The Zagreb County Court in September 2010 sentenced Kutle to two years and eight months in prison for wrongdoing. After the announcement of the verdict, he fled to Bosnia and Herzegovina.
The Sarajevo court said today that it would decide at a later date whether to grant the defence team's request for the retrial of Kutle or uphold the Croatian court's judgement.
Kutle's lawyer Damir Alagic told the media that the defence team presented documentation compiled by experts from the Economics Institute in Sarajevo and other expert documentation which he said challenged the ruling of the Zagreb court.
The lawyer insists that the prosecution and trial of his client was politically motivated.
Kutle, who attended the hearing at the Sarajevo court, declined to speak to the press.
Earlier this year, the Bosnian Justice Ministry received a request from the Zagreb County Court to enforce the sentence imposed on this businessman, in compliance with a bilateral agreement between Croatia and Bosnia and Herzegovina on mutual assistance in the enforcement of prison sentences.