CELEX: 62006TJ0044
Arbitration clause
Action for the creation and development of seed-capital funds
Termination of the contract
Action against the members of a company
Inadmissibility
Reimbursement of advances
Interest

ACTION under Article 238 EC by which the Commission seeks an order that the defendants reimburse an advance paid under a contract
entitled ‘Seed Fund 601’, concluded between the Commission and the defendant company.
Operative part
The Court:
1.
Orders Hellenic Ventures – Elliniki Etairia Epikheirimatikis Protovoulias AE to pay the European Commission the sum of EUR 70 000,
together with late-payment interest calculated at the Belgian statutory rate from 25 April 1999 until payment in full of the
debt;
2.
Dismisses the remainder of the action;
3.
Orders Hellenic Ventures to pay the costs, with the exception of those incurred by Konstantinos Katsigiannis, Panagiotis Chronopoulos,
and Nikolaos Poulakos;
4.
Orders the Commission to pay the costs of Konstantinos Katsigiannis, Panagiotis Chronopoulos, and Nikolaos Poulakos.