Judgment of the General Court of 7 October 2010 - Commission v Gal-Or
(Arbitration clause - Contract for financial assistance concluded under a specific research and technological development programme in the field of non-nuclear energy - Failure to comply with the contract - Reimbursement of advance payments - Default interest - Default procedure)
Language of the case: English
Parties
Applicant: European Commission (represented by: A.-M. Rouchaud-Joët and F. Mirza, Agents, by B. Katan and M. van der Woude, lawyers, and subsequently by B. Katan)
Defendant: Benjamin Gal-Or (Jupiter, Florida, United States)
Re:
Action on the basis of an arbitration clause, seeking an order that Mr Gal-Or reimburse the amount of EUR 205 611 advanced to him by the Commission in the context of contract IN/0042/97, together with default interest, and for payment of default interest on the amount of EUR 9 231.25, which is the amount of the costs incurred in an action brought by Mr Gal-Or against the Commission before the courts in the Netherlands.
Operative part of the judgment
The Court:
Orders Mr Benjamin Gal-Or to pay to the European Commission the principal amount owing of EUR 205 611, together with interest at the rate of:
2.75% from 2 March 2003;
2.50% from 7 March 2003;
2.00% from 6 June 2003;
2.25% from 6 December 2005;
2.50% from 8 March 2006;
2.75% from 15 June 2006;
3.00% from 9 August 2006;
3.25% from 11 October 2006;
3.50% from 13 December 2006;
3.75% from 14 March 2007;
4.00% from 13 June 2007;
4.25% from 9 July 2008;
3.75% from 15 October 2008;
3.25% from 12 November 2008;
2.50% from 10 December 2008;
2.00% from 21 January 2009;
1.50% from 11 March 2009;
1.25% from 8 April 2009;
1.00% from 13 May 2009;
Dismisses the action as to the remainder;
Orders Mr Gal-Or to pay the costs.
____________1 - OJ C 141, 20.6.2009.