Court upholds ruling on Argentine deposit freeze

ARGENTINA - An Argentine federal appeals court has upheld a prior ruling that declared unconstitutional the deposit freeze in place since December last year, along with all subsequent measures based upon it, local press reported.

Although the government, central bank and local Banco Provincia plan to appeal the latest ruling before the supreme court, the economy ministry has recognized further legal action is likely to fail and has resolved to directly lobby the judges handling deposit lawsuit

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