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Valentina R., lawyer
(Case T-590/17) (<span class="super note-tag">1</span>)
(Arbitration clause - Water Supply Sweida Region Loan Agreement No 80212 - Non-performance of the agreement - Repayment of the sums advanced - Default interest - Procedure by default)
(2019/C 280/53)
Language of the case: English
Applicant: European Investment Bank (represented by: initially by P. Chamberlain, T. Gilliams, F. Oxangoiti Briones and J. Shirran, and subsequently by F. Oxangoiti Briones, J. Klein and J. Shirran, acting as Agents, and D. Arts, lawyer, and T. Cusworth, Solicitor)
Defendant: Syrian Arab Republic
Action pursuant to Article 272 TFEU, seeking an order that the Syrian Arab Republic repay sums due under Water Supply Sweida Region Loan Agreement No 80212, plus default interest.
The Court:
1.Orders the Syrian Arab Republic to repay the European Union, represented by the European Investment Bank (EIB), the sum of EUR 726 942,81;
2.Declares that that sum is to bear default interest, on the principle amounts and on the contractual interest, at the annual rate of 3.5%, from 25 August 2017 until the date that payment is made;
3.Dismisses the action as to the remainder;
4.Orders the Syrian Arab Republic to pay the costs.
(<span class="note"> <a id="ntr1-C_2019280EN.01003801-E0001" href="#ntc1-C_2019280EN.01003801-E0001">*1</a> </span>) OJ C 369, 30.10.2017.