Rompetrol Group Vicechairman Voluntarily Comes to Romanian Court

The Rompetrol Group NV (TRG) Vice Chairman, Philip Stephenson, will appear today at the Bucharest Tribunal for hearings regarding the proposal of preventative arrest put forth by the General Prosecutor’s Office of Romania (GPO).

Phil Stephenson showed up in court at his own free will even though, based on Romanian and international law, he had no legal obligation to be there. The prosecutors were timely and lawfully notified, following TRG’s takeover of the French company Dyneff, that his legal residence was no longer in Romania.

Phil Stephenson stated: „I came here today because I want to believe that ultimately the Romanian courts will follow the law and rules, and if so, I believe that my legal entitlement to „presumption of innocence” will be respected and that I will ultimately be proven innocent of all charges. To date, I have cooperated fully with this investigation and will continue to do so in the future in spite of the incredible abuses by the prosecutors, which we have attempted through all legal means to bring to a stop, unsuccessfully so far. However, going forward, I only insist that the prosecutors fully comply with all rules, procedures, and due process protections to which I am entitled, including those based on the Romania Constitution as well as all applicable domestic and international legislation. The prosecutors in no way complied with legal obligations, which include among others following proper channels for summoning someone for hearings and allowing a reasonable time before the scheduled appearance.”

By presenting himself without being legally required or summoned at his legal United States address in accordance with legislation, Phil Stephenson has proved once again that the prosecutor’s request for preventative arrest is groundless as he by no means represents a risk to flee from the investigation or a threat to public order. This action by the GPO is yet another example of abusive behavior and misconduct by the prosecutors, who for the past two years have waged a deliberate, orchestrated, and politically motivated fiscal and judicial harassment against Rompetrol and some of its managers. The GPO continues to take abusive measures in total disregard of domestic and international legislation and with no accountability to anyone but their political masters.

In spite of the many GPO abuses in this investigation, TRG and its management will continue to cooperate and are committed to vigorously defend their innocence, both in Romanian and in international courts, in order to overcome the political motivation which sustains this investigation. We trust Romanian courts will ultimately respect legislation and reach the correct decision, today and in the future, clearing TRG and its management of any wrongdoing.