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Court Sets August 13 Deadline for Kirchner to Deposit AR$684.99 Billion or Face Asset Seizure

Prosecutors seek to redirect the AR$684.99 billion to fund schools, hospitals, infrastructure, housing

Overview

  • The Federal Oral Court 2 ordered Cristina Kirchner and eight co-defendants to lodge AR$684.99 billion within ten business days or face seizure and auction of embargoed assets.
  • Judges rejected the defense’s AR$42 billion damage estimate and affirmed the official valuation based on expert appraisal.
  • At an exchange rate of AR$1,172 per US dollar, the restitution sum equals approximately US$530 million.
  • Prosecutors Diego Luciani and Sergio Mola urged that recovered funds be allocated to public works, including schools, hospitals and housing.
  • Concurrent enforcement in the ‘Ruta del Dinero K’ case against Lázaro Báez and Austral Construcciones’ bankruptcy proceedings could delay asset execution.