Banco Ciudad to file injunction to ensure funds not moved

Banco Ciudad president Federico Sturzenegger assured that the entity will file an injunction to prevent court deposits from being moved to Banco Nación, in case the law is approved next week.

The City’s public bank thus plans to fight against the law stating that deposits from federal cases handled in City courts will be transferred to the Nación bank. The bill has been preliminary approved by the Senate and will be debated on the Lower House on Wednesday.

“We will file a cautionary measure to stop the effect of the law and to declare it anti-constitutional. Congress cannot legislate over those deposits, and if it did, it would violate the City’s autonomy principle, as stated in the Constitution,” Sturzenneger said in an interview.

“Before the City received its autonomous status, the Congress sometimes acted as City legislature. Thus, all those laws were transferred to the current City Legislature."

“This is part of the Government’s policy to harm the City for political reasons,” he added.