Judgment of the General Court (Ninth Chamber) of 18 October 2023 –EIB v Syria (Case T‑469/22)
Grade B
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Not the law itself: Judgment
Address https://gelex.eu/eli/EU/judgment/62022TJ0469_INF@2023-10-18/en
1. Judicial proceedingsAction before the General CourtApplication of the default procedureObligation of the Court to rule on the applicant’s pleasConditionsFailure of the defendant to respond within the prescribed time limit (Rules of Procedure of the General Court, Art. 123(1)) (see paragraphs 16-19, 24, 35, 40, 41)
2. Judicial proceedingsGeneral Court seised under an arbitration clauseLoan agreement concluded between the European Investment Bank and SyriaJurisdiction of the General Court defined by Articles 256 and 272 TFEU and the arbitration clause (Arts 256(1) and 272 TFEU) (see paragraphs 20, 22, 23)
3. Judicial proceedingsGeneral Court seised under an arbitration clauseLoan agreement concluded between the European Investment Bank and SyriaBreach by Syria of its contractual obligationsSubrogation of the European Union to the rights of the bankAction brought by the Bank on behalf of the European UnionAdmissibility (Arts 256(1) and 272 TFEU; Rome Convention of 19 June 1980, Art. 13(1)) (see paragraphs 26, 27, 29-34)
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 28 777 508.71 representing the principal amounts and the contractual and default interest due on 30 June 2022;
2. Declares that the sum of EUR 27 388 963.40 comprising the principal amounts is to bear default interest, calculated in accordance with the method laid down in Article 3.02 of Loan Agreement No 20948 concerning a project for the reinforcement of the electricity distribution system in Syria, entered into by the EIB and the Syrian Arab Republic on 5 February 2001 and amended by letters of 3 October 2003, 28 February 2006, 9 May and 8 October 2007, from 30 June 2022 until the date that payment is made;
3. Orders the Syrian Arab Republic to pay the costs.