Apap Bologna dodges questions over quarrel-dominated offshore PAC company

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The director of Electrogas, Paul Apap Bologna, refused this afternoon to answer questions put to him by members of Parliament’s public accounts committee about his offshore company.

The committee is currently discussing a report by the Auditor General on the Electrogas deal, which has been linked to the assassination of Daphne Caruana Galizia, given the alleged involvement of the former director and shareholder of the project, Yorgen Fenech.

Apap Bologna was recently revealed to be the ultimate beneficial owner of a Dubai-based company called Kittiwake. The company has been described as identical to Fenech’s 17 Black, with the two having been incorporated less than two months apart, in the same jurisdiction in 2015.

The session was dominated by quarrels between the government and opposition members of the committee, as well as between opposition members and Gianella De Marco – the lawyer for Apap Bologna – over procedural matters .

At the start of the session, Apap Bologna was asked to provide documents that he had promised to provide to the committee, but it was quickly pointed out that the documents presented were not those requested.

At last week’s meeting, Apap Bologna told the committee that a decision had been taken for Fenech to own 10% of the Maltese consortium’s shares in the project after a discussion with his father, the late George Fenech. However, Apap Bologna changed its story today, claiming it was wrong last week.

He said Fenech actually had a 10% stake in the consortium from the start and the shares were not transferred to him later. He said it was decided because Fenech had taken the lead in the project.

Apap Bologna also clarified that there had been a dilution of the consortium’s shares on two occasions, in both cases he said the reason was that he wanted to reduce his exposure, with the shares going to Tumas Energy and Gasan. Enterprises.

The committee asked Apap Bologna if he lied to it in last week’s session or if he lied in today’s session. He was also in a hurry to find out why it had been decided that Fenech would own 10% of GEM’s capital in a personal capacity, rather than transferring the shares to Tumas Energy.

Apap Bologna corrected the committee, pointing out that Fenech did not receive the shares, but rather bought them. The committee was not satisfied, continuing to explain to him why Fenech had to own shares in the company in a personal capacity. He promised to present the board with an agreement demonstrating this.

The session got quite heated at one point, with committee chairman Beppe Fenech Adami saying that if the power plant deal had not been done, Daphne Caruana Galizia would still be alive.

Government deputies insisted that the comment be recorded, arguing that Fenech Adami had violated the rights of Apap Bologna.

What do you think of Apap Bologna’s response?

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Yannick joined Lovin Malta in March 2021 after starting journalism in 2016. He is passionate about politics and the way our society is governed, and everything to do with numbers and charts. He loves dogs more than people.


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