Information;Judgment — ECLI:EU:T:2019:392
Date: 2019-06-06
Language of the case: English
Court formation: Sixth Chamber
Subject matter: European Investment Bank (EIB);External relations;Economic, financial and technical cooperation with third countries
Procedure: Arbitration clause - successful;Arbitration clause - application inadmissible

summary of the pleas in law on which the application is based — Application in the context of a loan agreement for any installments falling due and remaining unpaid after the date of the application — Hypothetical circumstances not yet established — Inadmissibility (Rules of Procedure of the General Court, Art. 76(d)) (see paras 32-36) Re: Action pursuant to Article 272 TFEU, seeking an order that the Syrian Arab Republic repay sums due under Electricity Distribution Project Loan Agreement No 20948, plus default interest. Operative part The Court: 1. Orders the Syrian Arab Republic to repay the European Union, represented by the European Investment Bank (EIB), the sum of EUR 52 657 141.77; 2. Declares that that sum is to bear default interest, on the principal amounts and on the contractual interest, calculated in accordance with the method laid down in Article 3.02 of Electricity Distribution Project loan agreement No 20948, entered into by the EIB and the Syrian Arab Republic on 5 February 2001 and amended by the letters of 3 October 2003, 28 February 2006, 9 May and 8 October 2007, 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.