The federal judge of La Plata, Alejo Ramos Padilla, issued a precautionary measure that temporarily halts the conversion of the Banco Nación into a joint-stock company, according to Decree of Necessity and Urgency (DNU) 116/2025.
This decision comes in the context of a previous ruling by the same judge regarding DNU 70/2023, where it was noted that any modification to the legal status of Banco Nación must go through a formal legislative process. However, the recent DNU 116/2025 ordered the transformation of the bank, which has generated controversy over a possible privatization.
Ramos Padilla justified the precautionary measure arguing that the situation poses serious circumstances that require an immediate response and warned that the conversion to a joint-stock company could pave the way for privatization. Although the decree does not explicitly mention this point, the judge expressed concern about the entry of private capital.
The current resolution is provisional, and the Federal Court of Appeals of La Plata must determine whether to uphold the initial decision of the judge. Meanwhile, the government must justify the public interest behind the measure, and both the State and Banco Nación must cease any action related to the conversion.
The case originates from a lawsuit by the Banking Association, led by Sergio Palazzo, close to Kirchnerism, which sought to invalidate Resolution 348 of the Board of Banco Nación that promoted privatization. The precautionary resolution by Ramos Padilla temporarily halts the process and establishes the need to justify the public interest in the matter.
