Hungary’s Supreme Court Cancels Sale Of Former Gas Trader Emfesz
- 14 Feb 2012 8:00 AM
'The Kúria, Hungary’s supreme court, yesterday voided the 2009 sale of former gas trader Emfesz and declared that its sole owner is the Cyprus-registered Mabofi Holding. The court found that former Emfesz CEO István Góczi had no authorisation to sell the 100% ownership of Mabofi to Swiss registered RosGas on April 28, 2009. Góczi reportedly sold the company for $1.
Góczi commented that a court of arbitration in Moscow may rule in favour of RosGas, and said that would be binding on Hungary. The Moscow court ruling is expected in the middle of March.
The energy authority MEH suspended Emfesz’s gas trading licence in January 2011, after gas distribution co-ordinator FGSZ suspended its contract with Emfesz.
The MEH later revoked Emfesz’s trading licence."
Source: Hungary Around the Clock
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