MOL Magyar Olaj es Gázipari : Yet another international tribunal, this time in Switzerland, has ruled that Croatia targeted MOL's Chairman-CEO with false allegations

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In the same decision, the tribunal rejected MOL's compensation claim, creating a precedent that sends a serious message to future foreign investors. MOL's compensation claim arose out of Croatia's breach of the First Amendment to the Gas Master Agreement (FAGMA), which had been approved by the Kosor government to remedy Croatia's previous breach of the 2009 Gas Master Agreement (GMA). MOL relied on the government's official approval to continue investing in the country. The tribunal, however, determined that the FAGMA's royalty provision was contrary to mandatory Croatian law, despite the fact that the agreement had been fully vetted and approved by the Croatian state at the time. As a responsible and law-abiding international company, MOL will, of course, fully comply with all its obligations arising from the decision in accordance with the law.

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