30.10.2017   

EN

Official Journal of the European Union

C 369/33

Action brought on 30 August 2017 — EIB v Syria

(Case T-589/17)

(2017/C 369/46)

Language of the case: English

Parties

Applicant: European Investment Bank (represented by: P. Chamberlain, T. Gilliams, J. Shirran and F. de Borja Oxangoiti Briones agents, D. Arts, lawyer and T. Cusworth, solicitor)

Defendant: Syrian Arab Republic

Form of order sought

The applicant claims that the Court should impose on Syria the order:

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for payment of all sums due to it under Articles 3.01, 3.02, 4.01, 9.01 and 9.02 of the Aleppo — Tall Kojak Road Project Special Term Loan Agreement, comprising:

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820 451,35 euro, being the amount due to it as at 25 August 2017, which is all principal, interest and contractual default interest (accrued from the due date to 25 August 2017);

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further contractual default interest, accruing at the annual rate of 3,5 % (350 basis points), until payment is made;

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all applicable legal costs, charges and expenses arising in connection with the conclusion and execution of the Loan Agreement, including costs related to the present proceedings.

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In any event, for payment of the amount due to it for instalments which will fall due after the date of this application and for which Syria fails to make a payment, comprising:

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all principal and interest for each instalment;

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contractual default interest, accruing at the annual rate of 3,5 % (350 basis points), from the due date of each instalment until payment is made by Syria.

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For payment of all costs related to the present proceedings pursuant to Article 134(1) of the Rules of Procedure.

Pleas in law and main arguments

In support of the action, the applicant relies on one plea in law.

First and only plea in law, alleging that Syria is in default of its contractual obligations under Articles 3.01 and 4.01 of the Aleppo — Tall Kojak Road Project Special Term Loan Agreement to make payment of the instalments under the Aleppo — Tall Kojak Road Project Special Term Loan Agreement as they have fallen due, and under Article 3.02 of the Aleppo — Tall Kojak Road Project Special Term Loan Agreement to make payment of default interest on each of the instalments due and not paid, accruing at the annual rate therein. Consequently, Syria is obligated to pay all amounts due under Articles 3.01, 3.02, 4.01, 9.01 and 9.02 of the Aleppo — Tall Kojak Road Project Special Term Loan Agreement.