Two Significant Judicial Decisions Concerning Financial And Foreign Exchange Proceedings

A plenary from the Federal Court of Appeals and a judgment from the Argentine Supreme Court referred to the guarantee of trial within a reasonable period of time and its extension to all kinds of proceedings of a punitive nature.

On May 9, 2012, a majority vote of the Federal Court of Appeals in Administrative Litigation, in plenary session, in re "Navarrine, Roberto Hector et al. v. BCRA - Res. 208/05", concluded that Law No. 21,526 provides specific sanctions, which include express provisions concerning prescription (statute of limitations), that preempt the prescription regime of the Criminal Code. Since Article 42 of such law specifically regulates that matter with regard to offenses included within the Law, and taking into account the particularities of administrative law sanctions which disciplines an activity seeking the economic-financial common good and the optimal provision of these services, the prescription provisions of the Criminal Code do not apply. In