13 February 2013

Mabofi, a Group DF company, finally registered as the sole shareholder of Emfesz Ltd.

In an order issued February 11, 2013, the Registration Court in Hungary registered Mabofi as the sole shareholder of Emfesz Ltd.


This decision follows the ruling of the Hungarian Supreme Court, which last year confirmed that [former] Emfesz director István Góczi did not have the proper authorization to sell Mabofi’s 100% ownership share in Emfesz to the Swiss-registered company, Rosgas. Goczi purported to sell Emfesz to Rosgas in April 2009 for $1 and, to this day, the ownership of Rosgas remains unknown. As a result of this fraudulent sale, Emfesz, once the largest independent gas distributor in Hungary, lost its gas licenses and is now on the brink of insolvency.


Commenting on the ruling, Robert Shetler-Jones, Member of Group DF Supervisory Council, said: “We feel vindicated that after a protracted legal battle the Group’s ownership of Emfesz has been regained. We will take all the steps necessary to recover the assets of Emfesz, formerly a major gas trader and supplier in Hungary, and initiate the necessary criminal proceedings against the persons involved in the purported sale.”