• Coronavirus in Hungary
  • coronavirus
  • Budapest
  • Covid immunity certificate in Hungary
  • Covid immunity certificate/vaccine passport
  • Hungary border control
  • HelloMagyar
Arbitration tribunal orders MOL to act in INA’s best interestsArbitration tribunal orders MOL to act in INA’s best interestsArbitration tribunal orders MOL to act in INA’s best interestsArbitration tribunal orders MOL to act in INA’s best interests
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Support us
Daily News Daily News · 01/09/2014
· Business

Arbitration tribunal orders MOL to act in INA’s best interests

Croatia MOL

Budapest, September 1 (MTI) – An arbitration tribunal has ordered Hungarian oil and gas company MOL to act in the best commercial interests of its Croatian unit INA, MOL and the government of Croatia said in a joint statement today.

“MOL must so exercise its various rights including relating to its shares in INA so as to ensure at all times that it acts in the best commercial interests of INA,” according to the decision of the United Nations Commission on International Trade Law (UNCITRAL) tribunal.

The tribunal also directed MOL, in the event of any sale of its stake in INA, to ensure that the buyer “bears the consequence of the present tribunal’s rulings with respect to the validity of agreements relevant to shareholder relations within INA”.

The tribunal has called on MOL and the Croatian government “not to discuss this matter any further in public”, according to the statement.

MOL holds a little less than 50 percent of INA’s shares. The state of Croatia owns about 45 percent. A perceived lack of investment in the company by MOL and the state’s failure to take over INA’s loss-making gas business, as stipulated in a shareholders agreement, have been sources of tension between the two stakeholders.

Photo: Daily News Hungary

Source: http://mtva.hu/hu/hungary-matters

Croatia MOL
Share
Daily News
Daily News

Related posts

Hungary development motorway building bridge worker
02/07/2022

Hungary to start business development scheme in Bosnia’s Republika Srpska


Read more
Inside Airplane
02/07/2022

You want to avoid the extra airline tax in Hungary? There may be a way


Read more
Hungary market Lehel tér Budapest
02/07/2022

Public debt shrinking faster than EU average, says government


Read more

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.


Latest news
  • Budapest ranked among best brunch spots in Europe
  • One dead after migrants’ armed clash near the Serbian-Hungarian border
  • Top court annulled legal provisions on public use of Lake Balaton area
  • Pope Francis to resign and Hungarian Cardinal Erdő to succeed?

About us

Contact us

© 2022 DailyNewsHungary. All rights reserved!
Posting....