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Case T-541/17: Judgment of the General Court of 6 June 2019 — EIB v Syria (Arbitration clause — Electricity Transmission Project Loan Agreement No 20868 — Non-performance of the agreement — Repayment of the sums advanced — Default interest — Procedure by default)
ECLI:EU:UNKNOWN:62017TA0541
62017TA0541
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29.7.2019
Official Journal of the European Union
C 255/33
(Case T-541/17) (*)
(Arbitration clause - Electricity Transmission Project Loan Agreement No 20868 - Non-performance of the agreement - Repayment of the sums advanced - Default interest - Procedure by default)
(2019/C 255/42)
Language of the case: English
Parties
Applicant: European Investment Bank (represented 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
Re:
Action pursuant to Article 272 TFEU, seeking an order that the Syrian Arab Republic repay sums due under Electricity Transmission Project Loan Agreement No 20868, plus default interest.
Operative part of the judgment
The Court:
1.Orders the Syrian Arab Republic to repay the European Union, represented by the European Investment Bank (EIB) the sums of EUR 38 934 400,51 and 3 383 971,66 Swiss francs (CHF);
2.Declares that those sums are to bear default interest, in accordance with the method laid down in Article 3.02 of Electricity Transmission Project loan agreement No 20868, entered into by the EIB and the Syrian Arab Republic on 14 December 2000 and amended on 20 December 2004, on the principal amounts and on the contractual interest, from 9 August 2017 up to the date that payment is made;
3.Dismisses the action as to the remainder;
4.Orders the Syrian Arab Republic to pay the costs.
(*)
Language of the case: English.
(1)
OJ C 369, 30.10.2017.
* * *