Recognition procedure initiated in the case of MOL Group Chairman-CEO concluded
The so-called recognition procedure initiated in the case of Zsolt Hernádi has been concluded. In accordance with EU rules, it must be examined whether a judgment rendered in another Member State is compatible with Hungarian law and the fundamental legal principles of the EU.
In its final ruling issued on 18 March, the Budapest Metropolitan Court decided that Hungary will not take into account or recognize the final convictions issued by Croatian courts against Zsolt Hernádi, Chairman-CEO of the MOL Group.
The reasoning behind the Court’s decision details the violations of law that seriously infringed upon Zsolt Hernádi’s fundamental human rights in these Croatian proceedings, specifically and in detail highlighting the violation of the fundamental human right to an impartial and fair trial and the severe restriction of his right to a defense.
Following the findings of the ICSID and UNCITRAL Arbitral Tribunals that corruption had not been proven, and following INTERPOL’s decision to lift the warrant, today’s court ruling marks another significant milestone in redressing the long series of injustices suffered by the Chairman and CEO, as well as MOL, at the hands of Croatia.