Gasan denies being at dinner where Muscat was present prior to 2013 election

mark-gasan-daphne-caruana-galizia-2 reuters / miguela xuereb

Tista' taqra bil- Malti.

Electrogas shareholder Mark Gasan denied being present for a dinner which took place at Portomaso and for which Yorgen Fenech and then Opposition Leader Joseph Muscat were present for among others.

Gasan testified during the public inquiry tasked with looking into the assassination of investigative journalist Daphne Caruana Galizia.

During the inquiry he was questioned specifically by Jason Azzopardi on a dinner which took place three Fridays before the 2013 general election.

Gasan denied being present as Dr Azzopardi warned that there were eye witnesses.

In brief:

  • Gasan only understood that Fenech and Konrad Mizzi and Keith Schembri had a “friendly relationship” in 2014;
  • Gasan only saw a copy of the power point presentation by Apap Bologna after it was mentioned by Paul Borg Olivier when he testified during the public inquiry;
  • Gasan told the board of inquiry that he confronted Yorgen Fenech after he received questions about 17 Black in which the journalist told him that the Dubai-based company belonged to Fenech;
  • The witness told the board that he expected Fenech to rebut the claim;
  • In 2019, Yorgen Fenech was mostly abroad and GEM Holdings Board could not meet. In May of the same year, the other shareholders had a meeting with Ray Fenech. Following the meeting, Yorgen Fenech tendered his resignation in an email to Electrogas. Gasan did not accept to be Fenech’s replacement on the board;
  • Gasan told the board that both Apap Bologna and himself attended Electrogas board meetings.

During Gasan’s testimony, it also transpired that he had invited Muscat for his wedding.

16:51 On Wednesday at 2pm, Minister Jose Herrera and Paul Apap Bologna will be called to testify.

On Friday at 9.30 am, Minister Carmelo Abela will be called testify.
Monique Agius
16:50 Thank you for following this live blog.
Monique Agius
16:49 The questioning ends. Gasan steps off the stand.
Monique Agius
16:49 Following a last question from the board, Mark Gasan says he does not know anything about a meeting in Azerbaijan.
Monique Agius
16:44 Dr Azzopardi asks about a dinner on 15 February 2013 which took place at George Fenech's Portomaso residence for which Yorgen Fenech, George Fenech, Karmenu Vella and his son John, Mark Gasan and his father, as well as Joseph Muscat were present for.

Gasan denies, but Dr Azzopardi says there are eye witnesses.
Monique Agius
16:43 The initial estimated cost was €250 million. It shot up to €350 million by the request for proposal stage.
Monique Agius
16:41 Dr Azzopardi: During October 2013, were you aware that the EU announced that the gas pipeline between Malta and Sicily has qualified for funding. The question is were you aware of any discussions between members of Electrogas and government on this?

Gasan: No.
Monique Agius
16:40 "“We hope to have the project particulars finalized by March 2014,” said Buxton. After the start of construction, it will take another 18 months to get the floating storage unit (FSU) in place. By September 2015, delivery of the first LNG shipment is expected and the consortium should start seeing returns on its investment, he said."

Gasan says that return on its investment does not necessary mean physical profit.
Monique Agius
16:39 Dr Azzopardi reads out from: “Speaking to International Oil Daily, Gasol Chief Operating Officer Alan Buxton said the success of the project relied on the recent landslide victory of the Labor Party, which came to power in March.” – Energy Intel
[https://daphnecaruanagalizia.com/2013/10/speaking-to-international-oil-daily-gasol-chief-operating-officer-alan-buxton-said-the-success-of-the-project-relied-on-the-recent-landslide-victory-of-the-labor-party-which-came-to-power-in-march/]
Monique Agius
16:38 The witness says that possibly Apap Bologna and himself were showed different financial models.
Monique Agius
16:36 Gasan says that he does not recall having read it and adds that he was aware of Gasol's financial difficulties, however, Gasol was backed by SOCAR.
Monique Agius
16:35 Dr Azzopardi asks whether he read this article.
Monique Agius
16:34 Dr Azzopardi reads out from Caruana Galizia's Running Commentary: "30% shareholder in power station company is technically bankrupt" [Read more here: https://daphnecaruanagalizia.com/2015/07/30-shareholder-in-power-station-company-is-technically-bankrupt/ ]
Monique Agius
16:33 Dr Azzopardi takes over questioning.
Monique Agius
16:31 Dr Comodini Cachia asks the witness whether he questioned about the Mriehel high rise project following the revelations that Yorgen Fenech met the minister the day the policy was changed.

Gasan says that the allegations came out after Fenech's arrest.
Monique Agius
16:31 Gasan says he only met with Konrad Mizzi and Keith Schembri after the bid.
Monique Agius
16:30 Muscat was invited at Mark Gasan's wedding.
Monique Agius
16:29 Gasan says that he met Joseph Muscat "casually" before he became Prime Minister. He then paid a courtesy visit later.
Monique Agius
16:27 Dr Comodini Cachia refers to an email by Halpin dated 16 June 2017 and which was sent to Fenech, Mark Gasan, Ray Sladden among others.

In her email, Halpin informs them that Electrogas was drawing up a list of companies to include on their tenders.

She asks whether there was an arrangement that the Maltese companies would provide services.
Monique Agius
16:26 Asked whether the Gasan Group provided services to Electrogas, the witness says that they leased some cars from Gasan Groups.
Monique Agius
16:25 Gasan says that he was involved in the insurance business. He says that his family was not providing that insurance.
Monique Agius
16:25 ERA needed a €5.5 million guarantee which was later halved and an insurance policy.
Monique Agius
16:25 Gasan says that this email concerned an insurance policy.
Monique Agius
16:23 Dr Comodini Cachia asks about an email Mark Gasan sent on 28 December 2016 to Catherine Halpin and others regarding the IPPC guarantee, in which he asked Halpin how the meeting went and whether they had agreed in principle.
Monique Agius
16:19 There was another issue with ERA in relation to the permit you had obtained to bring in the FSU.

Dr Comodini Cachia reads out from 12 January 2017 email by Stephen Jorgensen to a list of people. She points out that the witness was involved later in the email exchanged. It concerned Electogas obligations with regards to the IPPC permit which was reduced from €5.5 million to €2.5 million.

Gasan says that he was not aware.
Monique Agius
16:17 Gasan is asked whether he was aware that the AG's advice was sought to bypass Parliament on the issue of excise tax.

He asks whether this was published in the media and says that he was not.
Monique Agius
16:16 Gasan says that he did not know the minister.
Monique Agius
16:15 Gasan says that he is going to explain.

He says that he did not meet the minister and the email followed the call he had with the CFO.
Monique Agius
16:12 Dr Comodini Cachia reads out an email from Electrogas leak dated 5 January 2017 to Catherine Halpin and the CFO (Peter).

"I was speaking to Peter earlier on that there are number of issues. Peter can you list the pending issues? Tactically we need to be aware of all the issues and devise a plan how to handle all and not handle each one as they come.

Do we skip Enemalta and go straight to the Minister?" she reads out.
Monique Agius
16:12 Gasan says that from the board meetings he attended this was not discussed.

From what the CFO had told him, that excise tax was payable by Enemalta.

"If that is incorrect, Electrogas should come out and clarify."
Monique Agius
16:11 "Electrogas needs to come out with a position on the issue," Gasan reiterates.
Monique Agius
16:10 "Since this issue has come out. I've been pushing Electrogas to address it. They need to come out and explain their position. Actually it is very frustrating," Gasan says.
Monique Agius
16:07 "In an email of July 2017 in which you are not copied in. One of the issues brought up is excise tax," Dr Comodini Cachia continues. She is reading from an email by Electrogas CFO.
Monique Agius
16:06 "The email conversation followed a conversation which I had with the CFO of Electrogas. He had told me that the excise tax should be paid by Enemalta and they were saying the opposite. I sent an email to resolve the issue. There was nothing untoward," he says.
Monique Agius
16:05 Dr Comodini Cachia says that the email clearly show he was negotiating the tax bill.
Monique Agius
16:05 "I'm seeing the replies, but this is something PwC did," Gasan says.
Monique Agius
16:02 Dr Comodini Cachia informs the witness that the emails in his hands is an exchange between Gasan and another person.
Monique Agius
16:01 He says that it was about a tripartite agreement about "some double tax agreements".
Monique Agius
15:59 In one of these emails you highlight that you had in issue with tax, Dr Comodini Cachia continues as she refers to an email from 14 December 2016.

She shows the email to Gasan.
Monique Agius
15:58 Gasan remarks that it was normal for running late when honouring payments, after Dr Comodini Cachia read out an email which was directly addressed to him.

"These are normal things," he reiterates.
Monique Agius
15:57 I was shocked, Gasan says.
Monique Agius
15:56 Gasan was informed of a breach in the system on 27 December 2017. The email was sent Catherine Halpin.
Monique Agius
15:55 After reading the email, Gasan says that this was a negotiation and was not showing a default.
Monique Agius
15:54 Dr Comodini Cachia asks whether there other financial difficulties.

The lawyer has emails from November 2016 until February 2017 in which Gasan himself was copied.
Monique Agius
15:52 "The way it was explained to us, is that Yorgen Fenech was going to be full time on this project," Gasan recalls.
Monique Agius
15:52 The witness is asked about the company which is owned solely by Fenech and what led the shareholders agree to a parallel shareholding by Fenech.
Monique Agius
15:51 Gasan confirms that he was reluctant to become an Electrogas director due to the allegations.
Monique Agius
15:49 Gasan says that three new directors joined GEM Holdings – Gasan's father, Apap Bologna's father and Ray Fenech. This would allow them to have quorum.
Monique Agius
15:49 Dr Comodini Cachia presses the witness on why they took six months.
Monique Agius
15:47 GEM Holdings took six months to find a replacement for Fenech.
Monique Agius
15:46 The witness says that while GEM Holdings had accepted Fenech's resignation they had to find a replacement.
Monique Agius
15:45 Gasan says that since he was in copy he replied that he did not want to replace Yorgen Fenech.
Monique Agius
15:44 Gasan says that Yorgen Fenech's one liner email was possibly the result of the meeting between Apap Bologna, Gasan Group and Ray Fenech.
Monique Agius
15:43 Judge Lofaro: Did he admit any wrongdoing?
Gasan: No.
Monique Agius
15:43 Recalling from memory, Gasan says that in his email Fenech informed the board that he was "moving on".
Monique Agius
15:41 In May 2019 after the discussion between Gasan and Ray Fenech, the latter had to speak to Yorgen Fenech.

Gasan says that immediately after this meeting, Fenech sent an email to the board of directors of Electrogas.
Monique Agius
15:41 The board says if he was a recipient, then yes.
Monique Agius
15:40 Gasan asks the board if he should the one presenting this email by Fenech.
Monique Agius
15:38 In November 2018 – the news breaks out that 17 Black belongs to Yorgen Fenech.

Fenech issued an email to all Electrogas shareholders denying the claims in the media.
Monique Agius
15:37 Dr Comodini Cachia presses the witness further.
Monique Agius
15:36 Gasan was "in constant contact with his uncle" after Yorgen Fenech was constantly away.
Monique Agius
15:35 "We felt that someone from GEM needed to be at Electrogas board meetings," he says.

Once again, Gasan reiterates that Paul Apap Bologna was present at Electrogas board meetings.
Monique Agius
15:33 Dr Comodini Cachia: Was this occasionally or frequently?
Gasan: Later on after 17 Black [November 2018], Paul and I were alternating on Electrogas board meetings
Monique Agius
15:33 Gasan insists that both he and Apap Bologna would attended board meetings when they were not directors. They would serve as alternates when Fenech was not present.
Monique Agius
15:32 Either Paul or I, would replaced GEM Holdings director at Electrogas board meetings, Gasan explains to the board.
Monique Agius
15:31 He told us he didn't, Dr Comodini Cachia says.
Monique Agius
15:31 Gasan confirms that Paul Apap Bologna attended Electrogas board meeting in his presence.
Monique Agius
15:30 Gasan says that he started involving himself more, explaining they got involved more in the costs. He confirms that he was attending board meetings of Electrogas as an observer.
Monique Agius
15:29 Until 2015 they intended to remain as passive investors. When it become clear that there were issues, Gasan Group decided to get involved more in the project to understand better.
Monique Agius
15:29 Gasan is asked again about their "passive" role.
Monique Agius
15:27 The main problem with the project was the cost overrun, Gasan says, adding that the main problem was financing this aspect of the project.
Monique Agius
15:25 Dr Comodini Cachia asks whether they entered into a security supply agreement and purchase agreement in case of a gas pipeline to safeguard themselves.
Monique Agius
15:24 Referred to Apap Bologna's statement that Electrogas would expect a profit at 2023, Gasan says that they were expecting a profit at the end of the decade.
Monique Agius
15:22 "The last financial model I've seen showed that the first profit would be made …" Gasan says mumbling something.
Monique Agius
15:22 The estimates on the deal were wrong, Gasan says, particularly when it came to costs.
Monique Agius
15:21 Gasan explains that there were substantial cost overrun when compared to the estimates.
Monique Agius
15:20 Gasan says that Electrogas submitted the bid and was awarded the deal.
Monique Agius
15:20 Chief Justice: Am I correct in understanding that as a company you considered to be a safe long-term investment?
Gasan: Initially yes.
Monique Agius
15:18 The expected return at the expression of interest stage was looking pretty good, Gasan says in a reply to a question by Dr Comodini Cachia on the expected return.
Monique Agius
15:18 PwC started presenting figures during the expression of interest period.
Monique Agius
15:16 "From what I was told, Gasol was financially supported by SOCAR," he says, adding that he was not aware of Gasol's financial difficulties.
Monique Agius
15:15 Gasan says that he believes that Gasol left the consortium in mid-2015.

In the 11th hour we were advised that Gasol will not remain in the project, Gasan says.
Monique Agius
15:15 Gasol features on the power point. He says that he believes that Paul Apap Bologna had a contact at Gasol.
Monique Agius
15:13 She asks about the similarities between the power station and the power point presentation.
Monique Agius
15:12 Gasan explains that he saw the power point presentation after Borg Olivier's testimony when he heard about it and asked for it.
Monique Agius
15:11 Dr Comodini Cachia starts questioning the witness.
Monique Agius
15:10 Gasan confirms that he was invited at the party at Portomaso celebrating the financial closure and the extension of the bank guarantee.
Monique Agius
15:10 Gasan says the group are committed to not making a profit from the deal.
Monique Agius
15:08 Gasan says that they felt they had to come out and state it publicly when the links between the power station project and the assassination.
Monique Agius
15:08 Gasan says that Gasan Group has been trying to seek an exit from Electrogas for a while.

"Probably since 17 Black," he says.
Monique Agius
15:07 "From inception we made it clear that we were a passive investor," Gasan says, explaining that this was why he did not take up the post as a director.
Monique Agius
15:06 Gasan says that Ray Fenech informed them that Yorgen Fenech had resigned all of his positions.
Monique Agius
15:05 In November 2019 a GEM boarding meeting was held for which Ray Fenech was present but not Yorgen Fenech.
Monique Agius
15:05 Gasan refused and Apap Bologna was appointed instead.
Monique Agius
15:03 In May 2019, Yorgen Fenech saw the minutes of the meeting between Ray Fenech and Gasan; and sent an email to Electrogas informing them that he was resigning and appointing Gasan in his stead.
Monique Agius
15:03 Gasan says that Fenech wanted to resign in May 2019.
Monique Agius
15:02 Siemens Group tried to have Fenech removed from Electrogas, the board says.
Monique Agius
15:01 "I can't see what action I could have taken," he says.

Gasan insists that at that point, it was just allegations adding there was no legal action which could have been taken.
Monique Agius
15:00 Judge Lofaro presses Gasan on what possible course of action they considered against Fenech and whether they considered involving their lawyers.

Gasan replies: to do what?
Monique Agius
14:59 In May, they had a meeting with Ray Fenech since Yorgen Fenech was appointed director at GEM Holding by Tumas Group.
Monique Agius
14:58 Judge Lofaro asks what action could they have taken because almost twelve months had passed.
Monique Agius
14:58 The witness says at the time he was not aware of the link between 17 Black and Daphne Caruana Galizia's assassination.
Monique Agius
14:57 Gasan explains that they got Ray Fenech (Yorgen's uncle) involved.

He says that Ray Fenech was also very concerned.
Monique Agius
14:57 "We were trying to hold meetings to discuss the issue," Gasan says, explaining it was impossible to hold a meeting if one of three directors were missing.
Monique Agius
14:55 In January 2019, Yorgen Fenech was hardly around because he was traveling a lot, Gasan recalls, saying they tried to call a board meeting of GEM Holdings.

The board meetings required all three directors present.
Monique Agius
14:55 He says that Gasan Group was very concerned.
Monique Agius
14:55 There is stark evidence that 17 Black was his, he confirms.
Monique Agius
14:53 Judge Mallia: When did you find out that Yorgen was lying?
Gasan: That is a very hard question. Publicly the company seems his. He has not denied it.
Monique Agius
14:53 Chief Justice Emeritus asks why did Fenech sought legal advice in London.

He says that he can't say because he was just repeating what he had been told.
Monique Agius
14:51 Fenech had gone through each allegation and denied it with the board.

Fenech had told them that he was looking at lawyers in London to sue journalists. This did not happen.
Monique Agius
14:50 He says after review that there were no transactions between 17 Black and GEM Holdings or Electrogas.
Monique Agius
14:50 Fenech did not deny it.
Monique Agius
14:48 Two weeks later, Gasan called Fenech again, who insisted that he did not own 17 Black.
Monique Agius
14:47 The witness says that he did not ask Fenech whether 17 Black was his or not. He expected Fenech to rebut the claim.

"I was in shock," he says.

Two weeks later the story came out.
Monique Agius
14:46 Gasan says that he received questions about 17 Black from a journalist. After replying to the journalist, he called Yorgen Fenech and told him: "Sort it out. I'm assuming it's not true."
Monique Agius
14:45 Judge Lofaro presses the witness on the involvement of Nexia BT in Panama Papers and whether the consortium discussed this at a board meeting.

He replies: "no".
Monique Agius
14:44 "Panama Papers were shocking. But there were no links with Electrogas," he says.
Monique Agius
14:43 He says that they sought quotations and Nexia BT was substantially cheaper.
Monique Agius
14:42 Nexia BT was the auditor of GEM holding.
Monique Agius
14:42 Gasan says that he met Brian Tonna from Nexia BT socially and there was no business with him.
Monique Agius
14:41 He says Electrogas paid the government 11 million euro for the guarantee, adding that it is incorrect to assume that the government guarantee benefited Electrogas.

"I cannot see how it favoured Electrogas, we were charged for it," he says.
Monique Agius
14:38 Asked whether he was concerned about the NAO report, Gasan says:

"In my opinion, the NAO levelled criticism at the government, which in my opinion sometimes was fair. The issue was one of a state aid. The government guarantee should have never happened. It should have been cleared before. The government guarantee somehow benefitted Electrogas."
Monique Agius
14:37 Gasan says that Gasan Group does not have commercial ties with Kasco group.
Monique Agius
14:36 Gasan says that he met Konrad Mizzi at the official opening of the power station in 2017.

He does not know whether his father met Mizzi or Schembri.

He says that he had no lunches or dinners with Muscat.
Monique Agius
14:36 Gasan says that he met Keith Schembri much later after the election.
Monique Agius
14:35 "He was friendly with Konrad Mizzi and Keith Schembri," Gasan says about Yorgen Fenech in 2014.

Gasan insists that he only became aware of Fenech's close connection with the Labour Party after the general election.
Monique Agius
14:34 "My understanding that not all Electrogas agreements were closed off after the 2013 Election and the contract closed off," Gasan says.
Monique Agius
14:33 Lenders were pushing for an extension, he says.
Monique Agius
14:32 The government guarantee was expiring in August 2017, Gasan recalls. He says that there were a couple of options – extend the government guarantee until the final agreements were concluded.

"I believe there were two agreements pending," he says.
Monique Agius
14:31 "In 2017, the construction of the power plant was reaching its end," he explains.
Monique Agius
14:30 Judge Mallia asks the witness for what was his reaction when the consortium was informed that Electrogas was defaulting by BOV.
Monique Agius
14:29 He says that he was not involved in the discussion.

"At the point in time there was the Electrogas company and three directors handled it," he says.
Monique Agius
14:29 Gasan says that the bank guarantee came much later and had to do with state aid.
Monique Agius
14:29 Chief Justice Said Pullicino asks about the bank guarantee.
Monique Agius
14:28 Gasan Group was a passive investor, he reiterates.
Monique Agius
14:26 Gasan says that for them this was investment, while the manufacturer would be a shareholder. He is replying to a question by Judge Lofaro on the lack of experience.
Monique Agius
14:25 "Basically Yorgen was extremely interested in this project. George Fenech was excited about it," he says.

Sometime before the election, Gasan, Fenech, and Apap Bologna.
Monique Agius
14:25 Eleven of the eighteen bidders were selected for the second stage, Gasan says.
Monique Agius
14:24 Gasan says that he does not know why it took them so long.
Monique Agius
14:23 Siemens only committed to the consortium at the eleventh hour, he says.

"There was a potential that the consortium would not put in an expression of interest. Had Siemens not confirmed," he says.
Monique Agius
14:22 Gasol had their joint venture with SOCAR and and a 50% stake holder.
Monique Agius
14:22 The expression of interest was not a long document, he says.
Monique Agius
14:21 The expression of interest was launched towards the beginning of April 2013 and was closed six weeks later, he recalls.
Monique Agius
14:20 At that point, the 18-year long agreement looked interesting, he says.
Monique Agius
14:20 Madame Justice Lofaro asks about the feasibility study.
Monique Agius
14:20 Chief Justice Emeritus Said Pullicino presses him. However, Gasan insists that the group only pushed through with their involvement in March 2013.
Monique Agius
14:19 "We wanted to invest," he insists.
Monique Agius
14:19 Gasan Group was looking at a long-term investment, he says.
Monique Agius
14:17 He explains that at the time their equity share was thought of €5 million.
Monique Agius
14:17 Gasan thought of the project as a passive investment.
Monique Agius
14:16 They discussed bringing PwC on board.

"I believe Fenech had already signed a letter of engagement with PwC to assess the feasibility of the project," Gasan says.
Monique Agius
14:15 The witness says that they discussed the logistics with Fenech.
Monique Agius
14:15 Gasan explains that after the internal discussion, they sought further clarification from George Fenech.
Monique Agius
14:14 Gasan is shown the presentation by Apap Bologna, with the witness replying that he only saw it recently and was possibly shown to his father at the time.
Monique Agius
14:13 "My father and I had a discussion about that. We had a property development with Tumas Group in Marsascala. The project was very successful. It involved Ray Fenech, George Fenech, my father and I," Gasan says.
Monique Agius
14:12 Chief Justice Emeritus Said Pullicino asks whether he was aware that Fenech and Apap Bologna had gone to PL and what was their reaction.

"I'm not aware of that," he replies.
Monique Agius
14:11 Gasan says that he was not aware of any discussions with the PL at the time when it was still in Opposition, he replies to a question by Chief Justice Emeritus.
Monique Agius
14:11 They approached us to see if we were interested, Gasan recalls.

"This was subject to PL coming into power," he says.
Monique Agius
14:10 This was around February 2013.
Monique Agius
14:09 Asked about when the PN were approached, Gasan says that Apap Bologna had approached his father and it was just an idea.
Monique Agius
14:08 George Fenech had pitched the idea to us, he explains, adding that Partit Laburista had this idea for energy generation of a gas-fired power station.
Monique Agius
14:08 Gasan explains that in 2013 they were approached by late George Fenech (Yorgen's father). They had met on something else.
Monique Agius
14:07 Paul Apap Bologna is Gasan's cousin-in-law.
Monique Agius
14:07 He says that he did not have any experience in the generation of electricity and Electrogas is his first experience.
Monique Agius
14:06 He studied in the U.K. and returned in 2003. He started off in property and branched into other ventures.
Monique Agius
14:05 Judge Mallia asks the witness to give a brief background on his professional career.
Monique Agius
14:04 Gasan requests to testify in English.
Monique Agius
14:03 Mark Gasan takes the witness stand.
Monique Agius
14:03 We are in session.
Monique Agius
13:55 Good afternoon and welcome to Newsbook.com.mt live blog. We're live from courtroom
Monique Agius

Fellow shareholder Paul Apap Bologna who took the witness stand on Friday, will be summoned at a later stage to submit more evidence.

In September, the Gasan family released a public statement saying that it was seeking exit from the Electrogas consortium, saying it did not want to be linked to the controversy surrounding the power station project.

Gasan Enterprises has 11.72% shareholding in the power station project which has been plagued by allegations of corruption and linked to the assassination of the journalist. GEM holdings which is made up of the Gasan family along with the Fenech family of Tumas Group and Apap Bologna family own 33% shareholding in the project.

Siemens and Azerbaijan’s state energy SOCAR each own 33% shareholding.

Last year, Yorgen Fenech was arrested and charged with being an accomplice in the murder of Caruana Galizia.

The Board of Inquiry is composed Judge Emeritus Michael Mallia, who is chairing the inquiry board, and two other board members, Chief Justice Emeritus Joseph Said Pullicino and Judge Abigail Lofaro.

Lawyers Jason Azzopardi, Therese Comodini Cachia and Andrew Borg Cardona are appearing for the family.