CELEX: 62017TA0589
Language: en
Date: 2019-06-06 00:00:00
Title: Case T-589/17: Judgment of the General Court of 6 June 2019 — EIB v Syria (Arbitration clause — Aleppo-Tall Kojak Road Project Loan Agreement No 60136 — Non-performance of the agreement — Repayment of the sums advanced — Default interest — Procedure by default)

19.8.2019   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 280/37
            
         
      Judgment of the General Court of 6 June 2019 — EIB v Syria
      (Case T-589/17) (1)
      
      (Arbitration clause - Aleppo-Tall Kojak Road Project Loan Agreement No 60136 - Non-performance of the agreement - Repayment of the sums advanced - Default interest - Procedure by default)
      (2019/C 280/52)
      Language of the case: English
      
         Parties
      
      
         Applicant: European Investment Bank (represented by: initially by P. Chamberlain, T. Gilliams, F. Oxangoiti Briones and J. Shirran, and subsequently by F. Oxangoiti Briones, J. Klein and J. Shirran, acting as Agents, and D. Arts, lawyer, and T. Cusworth, Solicitor)
      
         Defendant: Syrian Arab Republic
      
         Re:
      
      Action pursuant to Article 272 TFEU, seeking an order that the Syrian Arab Republic repay sums due under Aleppo-Tall Kojak Road Project Loan Agreement No 60136, plus default interest.
      
         Operative part of the judgment
      
      The Court:
      
                  1.
               
               
                  
                     Orders the Syrian Arab Republic to repay the European Investment Bank (EIB) the sum of EUR 820 451,25;
                  
               
            
                  2.
               
               
                  
                     Declares that that sum is to bear default interest, on the principle amounts, at the annual rate of 3.5%, from 25 August 2017 until the date that payment is made;
                  
               
            
                  3.
               
               
                  
                     Dismisses the action as to the remainder;
                  
               
            
                  4.
               
               
                  
                     Orders the Syrian Arab Republic to pay the costs
                  
               
            
         (1)  OJ C 369, 30.10.2017.