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MOL rep tells court amended agreement protects Croatia's rights in INA

ZAGREB, May 10 (Hina) - Witness Ilona Fodor, a MOL employee who participated in negotiations between the Hungarian oil company and the Croatian government on amending the shareholders' agreement on the ownership structure in INA, told the Zagreb County Court on Thursday that with the 2009 amendments Croatia ensured better protection of its ownership rights in the INA oil and gas group.

I think that Croatia achieved better protection of its controlling rights than was the case with the 2003 agreement, said Fodor, who testified as a defence witness for former Croatian Prime Minister Ivo Sanader, who is charged with receiving 10 million euros in bribes from MOL to ensure it a dominant position in INA through the amendment of the shareholders' agreement.

According to the witness, the provisions of the initial agreement stipulated that after the expiry of a five-year deadline Croatia could not influence MOL's plans to sell its stock in the Croatian company. The amended agreement, which was signed by MOL and the Sanader cabinet, envisaged that Croatia would have pre-emption rights in INA, she said.

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