Contractual interest on overdue payments starting after the date of the claims / Claims in principle well founded but excessive / Articles 1134 and 1135 of the French Civil Code /Starting point of interest

'Whereas Claimant, as concerns his main and additional claims which are both well founded in principle, obviously increased their amount inconsiderately and failed to provide the sellers immediately with all useful elements on this question;

As therefore the Defendants could legitimately oppose payment thereof;

Whereas [the contract] referred to by Claimant provides that the compensation finally awarded by the Tribunal shall bear interest at the rate of securitybased loans of the Bank of France, from the tenth day after the date of notification to the sellers of the claim under article ... [of the contract].

But as such an implementation would encourage sellers to submit well founded claims in principle (but excessive as to their amounts) without providing justification in due time, in order that the amount of interest accruing during the discussions and possible proceedings compensate the necessary reduction in such excessive amounts;

Whereas, under Article 1134 of the French Civil Code, which provides that the parties must carry out their obligations in good faith, and Article 1135, according to which parties to a contract are bound to what fairness would command in consideration of the nature of the obligation, the Claimant's claim must be rejected, not ex aequo et bono, which cannot apply here, but as a penalty based on contractual responsibility.

Therefore, interest at the rate of securitybased loans of the Bank of France will run on the above awarded compensation but only from the date of the service of the award made enforceable through confirmation by Court.'