Judgment of the General Court (Seventh Chamber) of 7 July 2010.#European Commission v Hellenic Ventures - Elliniki Etaireia Epicheirimatikis Protovoulias AE and Others.#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.#Case T-44/06.

Subject of the case

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

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.