Judgment of the General Court of 17 November 2021 – Anastassopoulos and Others v Council and Commission

(Case T-147/17) ¹

(Non-contractual liability – Economic and monetary policy – Restructuring of Greek public debt – Private sector involvement – Collective action clauses – Private creditors – Sufficiently serious breach of a rule of law intended to confer rights on individuals – Equal treatment – Natural and legal persons – Limitation periods – Whether European Union answerable for the measures at issue – Admissibility – Strict liability – Unusual and special damage)

Language of the case: French

Parties

Applicants: Nikolaos Anastassopoulos (Nea Erythraia, Greece), Aristeidis Anastassopoulos (Nea Erythraia), Alexia Anastassopoulos (Nea Erythraia), Maria-Myrto Anastassopoulos (Nea Erythraia), Sophie Velliou (Kifisia, Greece) (represented by: K. Floros, M. Meng-Papantoni and H. Tagaras, lawyers)

Defendants: Council of the European Union (represented by: K. Michoel, E. Chatziioakeimidou and J. Bauerschmidt, acting as Agents), European Commission (represented by: J.-P. Keppenne, L. Flynn and T. Maxian Rusche, acting as Agents)

Re:

Application based on Article 268 TFEU seeking damages for the harm allegedly suffered by the applicants as a result of the implementation of a mandatory exchange of State bonds in the context of the restructuring of Greek public debt in 2012, on account of the participation of private investors involving the application of collective action clauses, based on conduct or acts of the Eurogroup, its President, the Heads of State or Government of the euro area and the Commission relating thereto.

Operative part of the judgment

The Court:

Dismisses the action;

Orders Mr. Nikolaos Anastassopoulos, Mr. Aristeidis Anastassopoulos, Ms Alexia Anastassopoulos, Ms Maria-Myrto Anastassopoulos and Ms Sophie Velliou to pay the costs.

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¹ OJ C 202, 26.6.2017.