Argentine court extends suspension of Banco Nación's conversion into a corporation

The Federal Court of La Plata confirmed a six‑month extension of the precautionary measure that halts the conversion of Banco Nación, Argentina's state bank, into a sociedad anónima. The extension was ordered by Judge Alejo Ramos Padilla on 10 March, following the original order dated 13 March 2025, and it keeps the conversion decree (Decree 116/2025 issued by President Javier Milei) on hold. Appeals filed by the national government and by Banco Nación itself were rejected, with the judges citing jurisprudence that allows multiple extensions of a precaution when justified. The case originated from a filing by workers' lawyer Jerónimo Guerrero Iraola, supported by the Association Bancaria led by Sergio Palazzo, arguing that the conversion would undermine the bank’s public mandate and a broader modernization policy. The precautionary order remains in force while the substantive litigation proceeds.