The City will appeal to justice by the judicial transfer of funds to the Nacion Bank

September 13, 2012
________________________________________________________

With the sanction of the Senate into law the transfer of judicial deposits of the Ciudad Bank to the Nacion Bank, the Buenos Aires deputy Mayor María Eugenia Vidal confirmed that the city will appeal to justice.

Vidal explained that they presented an injunction to stop the rule. “While the law provides for a gradual withdrawal of funds, 1,200 million per year, since it is enacted we are going to present in court to request an injunction to avoid the law is implemented.”

In addition, the City Bank president, Federico Sturzenegger, announced that it would conduct a “court filing.”

Following the enactment of the law, constitutional lawyer Alberto Garcia Lema, qualified representative of the organization said, “the preparation of the application is well advanced”.

Sources of Ciudad Bank said, ” We will present an appeal to the courts to try an interim injunction pending the resolution of the underlying issue, in which we stated that the law is unconstitutional transfer of funds because with the 1994 constitutional reform, judicial affairs were concerned as a faculty of the City Government and therefore the local Legislature and Congress can bring change.”