Judgment of the Court (Grand Chamber) of 16 December 2020 – Council of the European Union v Dr. K. Chrysostomides & Co. LLC and Others, European Union, European Commission, European Central Bank (ECB), Euro Group (C-597/18 P), Council of the European Union v Eleni Pavlikka Bourdouvali and Others, European Union, European Commission, European Central Bank (ECB), Euro Group (C-598/18 P), Dr. K. Chrysostomides & Co. LLC and Others (C-603/18 P), Eleni Pavlikka Bourdouvali and Others (C-604/18 P) v European Union, Council of the European Union, European Commission, European Central Bank (ECB), Euro Group

(Joined Cases C-597/18 P, C-598/18 P, C-603/18 P and C-604/18 P) 1

(Appeals – Economic and monetary policy – Stability support programme for the Republic of Cyprus – Restructuring of Cypriot debt – Decision of the Governing Council of the European Central Bank (ECB) relating to emergency liquidity assistance following a request from the Central Bank of the Republic of Cyprus – Euro Group statements of 25 March, 12 April, 13 May and 13 September 2013 – Decision 2013/236/EU – Memorandum of understanding on specific economic policy conditionality concluded between the Republic of Cyprus and the European Stability Mechanism (ESM) – Right to property – Principle of the protection of legitimate expectations – Equal treatment – Non-contractual liability of the European Union)

Language of the case: English

Parties

(Case C-597/18 P)

Appellant: Council of the European Union (represented by A. de Gregorio Merino, I. Gurov and E. Chatziioakeimidou, acting as Agents)

Other parties to the proceedings: Dr. K. Chrysostomides & Co. LLC, Agroton plc, Joanna Andreou, Kyriaki Andreou, Bundeena Holding plc, Henrietta Jindra Burton, C & O Service & Investment Ltd, C.G. Christofides Industrial Ltd, Phidias Christodoulou, Georgia Phanou-Christodoulou, Christakis Christofides, represented by his executor, Theano Chrysafi, Andreas Chrysafis, Dionysios Chrysostomides, Eleni K. Chrysostomides, Eleni D. Chrysostomides, D & C Construction and Development Ltd, Chrystalla Dekatris, Constantinos Dekatris, Dr. K. Chrysostomides and Co., Emily Dragoumi, Parthenopi Dragoumi, James Droushiotis, Eastvale Finance Ltd, Nicos Eliades, Tereza Eliades, Goodway Alliance Ltd, Christos Hadjimarkos, Johnson Cyprus Employees Provident Fund, Kalia Georgiou LLC, Komposit Ltd, Platon M. Kyriakides, L.kcar Intermetal and Synthetic Ltd, Lois Builders Ltd, Athena Mavronicola-Droushiotis, Medialgeria Monitoring and Consultancy Ltd, Neita International Inc., Sophia Nicolatos, Paris & Barcelona Ltd, Louiza Patsiou, Probus Mare Marine Ltd, Provident Fund of the Employees of Osel Ltd, R.A.M. Oil Cyprus Ltd, Steelway Alliance Ltd, Tameio Pronoias Prosopikou Genikon, The Cyprus Phassouri Estates Ltd, The Prnses Ltd, Christos Tsimon, Nafsika Tsimon, Unienergy Holdings Ltd, Julia Justine Jane Woods (represented by P. Tridimas, Barrister), European Union (represented by the European Commission), European Commission (represented by L. Flynn, J.-P. Keppenne and T. Maxian Rusche, acting as Agents), European Central Bank (ECB) (represented initially by M.O. Szablewska and K. Laurinavičius, acting as Agents, and H.-G. Kamann, Rechtsanwalt, and subsequently by K. Laurinavičius, G. Várhelyi and O. Heinz, acting as Agents, and H.-G. Kamann, Rechtsanwalt), Euro Group (represented by the Council of the European Union)

Intervener in support of the appellant: Republic of Finland (represented by S. Hartikainen and J. Heliskoski, acting as Agents)

(Case C-598/18 P)

Appellant: Council of the European Union (represented by A. de Gregorio Merino, I. Gurov and E. Chatziioakeimidou, acting as Agents)

Other parties to the proceedings: Eleni Pavlikka Bourdouvali, Georgios Bourdouvalis, Nikolina Bourdouvali, Coal Energy Trading Ltd, Christos Christofi, Elisavet Christofi, Athanasia Chrysostomou, Sofoklis Chrysostomou, Clearlining Ltd, Alan Dimant, Dodoni Ependyseis Chartofylakou Dimosia Etaireia Ltd, Dtek Holdings Ltd, Dtek Trading Ltd, Elma Holdings pcl, Elma Properties & Investments pcl, Agrippinoulla Fragkoudi, Dimitrios Fragkoudis, Frontal Investments Ltd, Costas Gavrielides, Eleni Harou, Theodora Hasapopoullou, Gladys Iasonos, Georgios Iasonos, Jupiter Portfolio Investments pcl, George Karkousi, Lend & Seaserve Ltd, Liberty Life Insurance pcl, Michail P. Michailidis Ltd, Michalakis Michaelides, Rena Michael Michaelidou, Akis Micromatis, Erginos Micromatis, Harinos Micromatis, Alvinos Micromatis, Plotinos Micromatis, Nertera Investments Ltd, Andros Nicolaides, Melina Nicolaides, Ero Nicolaidou, Aris Panagiotopoulos, Nikolitsa Panagiotopoulou, Lambros Panayiotides, Ersi Papaefthymiou, Kostas Papaefthymiou, Restful Time Co., Alexandros Rodopoulos, Seatec Marine Services Ltd, Sofoklis Chrisostomou & Yioí Ltd, Marinos C. Soteriou, Sparotin Ltd, Miranda Tanou, Myria Tanou (represented by P. Tridimas, Barrister, and K. Chrysostomides, dikigoros), European Union (represented by the European Commission), European Commission (represented by L. Flynn, J.-P. Keppenne and T. Maxian Rusche, acting as Agents), European Central Bank (ECB) (represented by M.O. Szablewska and K. Laurinavičius, acting as Agents, and H.-G. Kamann, Rechtsanwalt), Euro Group (represented by the Council of the European Union)

Intervener in support of the appellant: Republic of Finland (represented by S. Hartikainen and J. Heliskoski, acting as Agents)

(Cases C-603/18 P and C-604/18 P)

Appellants: Dr. K. Chrysostomides & Co. LLC, Agroton plc, Joanna Andreou, Kyriaki Andreou, Henrietta Jindra Burton, C & O Service & Investment Ltd, C.G. Christofides Industrial Ltd, Christakis Christofides, represented by his executor, Theano Chrysafi, Andreas Chrysafis, Dionysios Chrysostomides, Eleni K. Chrysostomides, Eleni D. Chrysostomides, D & C Construction and Development Ltd, Chrystalla Dekatris, Constantinos Dekatris, Dr. K. Chrysostomides and Co., Emily Dragoumi, Parthenopi Dragoumi, Eastvale Finance Ltd, Nicos Eliades, Tereza Eliades, Goodway Alliance Ltd, Christos Hadjimarkos, Johnson Cyprus Employees Provident Fund, L.kcar Intermetal and Synthetic Ltd, Lois Builders Ltd, Medialgeria Monitoring and Consultancy Ltd, Neita International Inc., Paris & Barcelona Ltd, Provident Fund of the Employees of Osel Ltd, R.A.M. Oil Cyprus Ltd, Steelway Alliance Ltd, Tameio Pronoias Prosopikou Genikon, The Cyprus Phassouri Estates Ltd, Christos Tsimon, Nafsika Tsimon, Julia Justine Jane Woods (represented by P. Tridimas, Barrister (C 603/18 P)), Eleni Pavlikka Bourdouvali, Georgios Bourdouvalis, Nikolina Bourdouvali, Christos Christofi, Elisavet Christofi, Clearlining Ltd, Dtek Holding Ltd, Dtek Trading Ltd, Agrippinoulla Fragkoudi, Dimitrios Fragkoudis, Frontal Investments Ltd, Costas Gavrielides, Eleni Harou, Theodora Hasapopoullou, Gladys Iasonos, Georgios Iasonos, George Karkousi, Lend & Seaserve Ltd, Michail P. Michailidis Ltd, Michalakis Michaelides, Rena Michael Michaelidou, Andros Nicolaides, Melina Nicolaides, Ero Nicolaidou, Aris Panagiotopoulos, Nikolitsa Panagiotopoulou, Alexandros Rodopoulos, Seatec Marine Services Ltd, Marinos C. Soteriou (represented by P. Tridimas, Barrister, and K. Chrysostomides, dikigoros (C 604/18 P))

Other parties to the proceedings: European Union (represented by the European Commission), Council of the European Union (represented by E. Chatziioakeimidou, A. de Gregorio Merino and I. Gurov, acting as Agents), European Commission (represented by L. Flynn, J.-P. Keppenne and T. Maxian Rusche, acting as Agents), European Central Bank (ECB) (represented by M.O. Szablewska and K. Laurinavičius, acting as Agents, and H.-G. Kamann, Rechtsanwalt), Euro Group (represented by the Council of the European Union)

Intervener in support of the Council of the European Union: Republic of Finland (represented by S. Hartikainen and J. Heliskoski, acting as Agents)

Operative part of the judgment

The Court:

Sets aside the judgments of the General Court of the European Union of 13 July 2018, K. Chrysostomides & Co. and Others v Council and Others (T-680/13, EU:T:2018:486), and of 13 July 2018, Bourdouvali and Others v Council and Others (T-786/14, not published, EU:T:2018:487), inasmuch as they dismiss the pleas of inadmissibility raised by the Council of the European Union in so far as those pleas relate to the actions, brought in those cases, directed against the Euro Group and Article 2(6)(b) of Council Decision 2013/236/EU of 25 April 2013 addressed to Cyprus on specific measures to restore financial stability and sustainable growth;

Declares that the actions brought at first instance in Cases T-680/13 and T-786/14 are inadmissible in so far as they are directed against the Euro Group and Article 2(6)(b) of Decision 2013/236;

Dismisses the main appeals brought in Cases C-603/18 P and C-604/18;

Orders Dr. K. Chrysostomides & Co. LLC, Agroton plc, Ms Joanna Andreou, Ms Kyriaki Andreou, Bundeena Holding plc, Ms Henrietta Jindra Burton, C & O Service & Investment Ltd, C.G. Christofides Industrial Ltd, Mr Phidias Christodoulou, Ms Georgia Phanou-Christodoulou, Mr Christakis Christofides, Ms Theano Chrysafi, Mr Andreas Chrysafis, Mr Dionysios Chrysostomides, Ms Eleni K. Chrysostomides, Ms Eleni D. Chrysostomides, D & C Construction and Development Ltd, Ms Chrystalla Dekatris, Mr Constantinos Dekatris, Dr. K. Chrysostomides and Co., Ms Emily Dragoumi, Ms Parthenopi Dragoumi, Mr James Droushiotis, Eastvale Finance Ltd, Mr Nicos Eliades, Ms Tereza Eliades, Goodway Alliance Ltd, Mr Christos Hadjimarkos, Johnson Cyprus Employees Provident Fund, Kalia Georgiou LLC, Komposit Ltd, Mr Platon M. Kyriakides, L.kcar Intermetal and Synthetic Ltd, Lois Builders Ltd, Ms Athena Mavronicola-Droushiotis, Medialgeria Monitoring and Consultancy Ltd, Neita International Inc., Ms Sophia Nicolatos, Paris & Barcelona Ltd, Ms Louiza Patsiou, Probus Mare Marine Ltd, Provident Fund of the Employees of Osel Ltd, R.A.M. Oil Cyprus Ltd, Steelway Alliance Ltd, Tameio Pronoias Prosopikou Genikon, The Cyprus Phassouri Estates Ltd, The Prnses Ltd, Mr Christos Tsimon, Ms Nafsika Tsimon, Unienergy Holdings Ltd and Ms Julia Justine Jane Woods, and also Ms Eleni Pavlikka Bourdouvali, Mr Georgios Bourdouvalis, Ms Nikolina Bourdouvali, Coal Energy Trading Ltd, Mr Christos Christofi, Ms Elisavet Christofi, Ms Athanasia Chrysostomou, Mr Sofoklis Chrysostomou, Clearlining Ltd, Mr Alan Dimant, Dodoni Ependyseis Chartofylakou Dimosia Etaireia Ltd, Dtek Holding Ltd, Dtek Trading Ltd, Elma Holdings pcl, Elma Properties & Investments pcl, Ms Agrippinoulla Fragkoudi, Mr Dimitrios Fragkoudis, Frontal Investments Ltd, Mr Costas Gavrielides, Ms Eleni Harou, Ms Theodora Hasapopoullou, Ms Gladys Iasonos, Mr Georgios Iasonos, Jupiter Portfolio Investments pcl, Mr George Karkousi, Lend & Seaserve Ltd, Liberty Life Insurance pcl, Michail P. Michailidis Ltd, Mr Michalakis Michaelides, Ms Rena Michael Michaelidou, Mr Akis Micromatis, Mr Erginos Micromatis, Mr Harinos Micromatis, Mr Alvinos Micromatis, Mr Plotinos Micromatis, Nertera Investments Ltd, Mr Andros Nicolaides, Ms Melina Nicolaides, Ms Ero Nicolaidou, Mr Aris Panagiotopoulos, Ms Nikolitsa Panagiotopoulou, Mr Lambros Panayiotides, Ms Ersi Papaefthymiou, Mr Kostas Papaefthymiou, Restful Time Co., Mr Alexandros Rodopoulos, Seatec Marine Services Ltd, Sofoklis Chrisostomou & Yioí Ltd, Mr Marinos C. Soteriou, Sparotin Ltd, Ms Miranda Tanou and Ms Myria Tanou, to bear their own costs and to pay those incurred by the Council of the European Union and the European Commission relating both to the proceedings at first instance and to the proceedings connected with the appeals in Cases C-597/18 P and C-598/18 P;

Orders Dr. K. Chrysostomides & Co. LLC, Agroton plc, Ms Joanna Andreou, Ms Kyriaki Andreou, Ms Henrietta Jindra Burton, C & O Service & Investment Ltd, C.G. Christofides Industrial Ltd, Mr Christakis Christofides, Ms Theano Chrysafi, Mr Andreas Chrysafis, Mr Dionysios Chrysostomides, Ms Eleni K. Chrysostomides, Ms Eleni D. Chrysostomides, D & C Construction and Development Ltd, Ms Chrystalla Dekatris, Mr Constantinos Dekatris, Dr. K. Chrysostomides and Co., Ms Emily Dragoumi, Ms Parthenopi Dragoumi, Eastvale Finance Ltd, Mr Nicos Eliades, Ms Tereza Eliades, Goodway Alliance Ltd, Mr Christos Hadjimarkos, Johnson Cyprus Employees Provident Fund, L.kcar Intermetal and Synthetic Ltd, Lois Builders Ltd, Medialgeria Monitoring and Consultancy Ltd, Neita International Inc., Paris & Barcelona Ltd, Provident Fund of the Employees of Osel Ltd, R.A.M. Oil Cyprus Ltd, Steelway Alliance Ltd, Tameio Pronoias Prosopikou Genikon, The Cyprus Phassouri Estates Ltd, Mr Christos Tsimon, Ms Nafsika Tsimon and Ms Julia Justine Jane Woods, and also Ms Eleni Pavlikka Bourdouvali, Mr Georgios Bourdouvalis, Ms Nikolina Bourdouvali, Mr Christos Christofi, Ms Elisavet Christofi, Clearlining Ltd, Dtek Holding Ltd, Dtek Trading Ltd, Ms Agrippinoulla Fragkoudi, Mr Dimitrios Fragkoudis, Frontal Investments Ltd, Mr Costas Gavrielides, Ms Eleni Harou, Ms Theodora Hasapopoullou, Ms Gladys Iasonos, Mr Georgios Iasonos, Mr George Karkousi, Lend & Seaserve Ltd, Michail P. Michailidis Ltd, Mr Michalakis Michaelides, Ms Rena Michael Michaelidou, Mr Andros Nicolaides, Ms Melina Nicolaides, Ms Ero Nicolaidou, Mr Aris Panagiotopoulos, Ms Nikolitsa Panagiotopoulou, Mr Alexandros Rodopoulos, Seatec Marine Services Ltd and Mr Marinos C. Soteriou, to bear their own costs and to pay those incurred by the Council of the European Union, the European Commission and the European Central Bank (ECB) relating both to the proceedings at first instance and to the proceedings connected with the appeals in Cases C-603/18 P and C-604/18 P;

Orders the Republic of Finland to bear its own costs incurred in the context of the present appeals.

____________

1 OJ C 427, 26.11.2018.