CELEX: 62006TJ0044
Language: en
Date: 2010-07-07
Title: Judgment of the General Court (Seventh Chamber) of 7 July 2010. # European Commission v Hellenic Ventures - Elliniki Etaireia Epicheirimatikis Protovoulias AE and Others. # 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. # Case T-44/06.

Judgment of the General Court (Seventh Chamber) of 7 July 2010 – Commission v Hellenic Ventures and Others
      (Case T-44/06)
      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
      1.                     Procedure – Referral to the General Court under an arbitration clause (Art. 238 EC) (see paras 47-49, 54-55)
      2.                     Budget of the European Communities – Community financial aid – Obligation of the beneficiary to comply with the conditions
            for granting the aid (Arts 238 EC and 274 EC) (see paras 85-89, 91, 94-96, 107-108, 113, 116)
      Re:
      
         
               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.