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. |