Note - Litigation Romanian Court of Accounts – Chamber of Accounts Sibiu

During 2016 SNG ROMGAZ SA was audited by the Romanian Court of Accounts – Chamber of Accounts Sibiu. As a result of this audit a Decision of the Court of Accounts was issued which made Romgaz responsible for taking some measures related to the alleged irregularities found in the company’s activity. Romgaz made use of all means of appealing against the Court of Accounts decision.

At first instance the company’s request was partly accepted and by means of consequence partial annulment of the decisions of the Court of Accounts was ordered, including the alleged irregularity related to the gas sales activity. Afterwards, however, by means of appeal, even though Romgaz maintained its position in complying with all legal obligations, the court decided to partially cancel the decision of the court of first instance, reiterating the company’s obligation to comply with the Court of Accounts decision regarding the recovery of the alleged prejudice arisen from the supposedly faulty gas sales activity.  

Therefore Romgaz will act accordingly in good faith and it will comply with the Order of the Court of Appeal Alba Iulia, as well as with the obligations arisen from the Court of Accounts Decision, even though the company’s opinion is that the thorough and legal decision is the one ordered in the first court of instance. The company considers thorough the resolution of the first court of instance as this was ordered taking into consideration the company’s  legal arguments , as it was based on the a legal technical expertise applied in this case, expertise which confirmed the fact that there is no prejudice arisen from the gas sales activity.

Further information can be found in the Note below.