62017TJ0540_INF
Judgment of the General Court (Sixth Chamber) of 6 June 2019 –EIB v Syria
(Case T‑540/17)
(Arbitration clause — Electricity Distribution Project Loan Agreement No 20948 — Non-performance of the agreement — Repayment of the sums advanced — Default interest — Procedure by default)
1.
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 paras 16, 17)
2.
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 — Subrogation of the European Union to the rights of the bank — Action brought by the Bank on behalf of the European Union — Admissibility — Action brought by the Bank in its own name — Inadmissibility — No interest in bringing proceedings
(Arts 256(1) and 272 TFEU)
(see paras 21-30)
3.
Judicial proceedings — Application initiating proceedings — Formal requirements — Identification of the subject-matter of the dispute — Brief 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 52657 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.