62022TJ0455_INF
Judgment of the General Court (Ninth Chamber) of 18 October 2023 –EIB v Syria
(Case T‑455/22) (
1
)
(Arbitration clause – Loan agreement concerning a water supply project in a third country – Non-performance of the agreement – Repayment of the sums advanced – Default interest – Procedure by default)
1.
Judicial proceedings – Action before the General Court – Application of the default procedure – Obligation of the Court to rule on the applicant’s pleas – Conditions – Failure of the defendant to respond within the prescribed time limit
(Rules of Procedure of the General Court, Art. 123(1))
(see paragraphs 13-16, 21, 27, 32, 33)
2.
Judicial proceedings – General Court seised under an arbitration clause – Loan agreement concluded between the European Investment Bank and Syria – Jurisdiction of the General Court defined by Articles 256 and 272 TFEU and the arbitration clause
(Arts 256(1) and 272 TFEU)
(see paragraphs 17, 19, 20)
3.
Judicial proceedings – General Court seised under an arbitration clause – Loan agreement concluded between the European Investment Bank and Syria – Breach by Syria of its contractual obligations – Action brought by the Bank on behalf of the European Union – Admissibility – Commission instructing the European Investment Bank to initiate recovery procedures on behalf the European Union
(Arts 256(1) and 272 TFEU)
(see paragraphs 23-26)
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 652 218.70 representing the principal amounts and the contractual and default interest due on 30 June 2022;
2.
Declares that the sum of EUR 559 287.10 comprising the principal amounts is to bear default interest at the annual rate of 3.5% from 30 June 2022 until the date that payment is made;
3.
Orders the Syrian Arab Republic to pay the costs.
(
1
)	OJ C 359, 19.9.2022.