The Labor Courts of the City of Buenos Aires advance the updating of labor credits
Through Minute No. 2764 of September 12, 2022, the City of Buenos Aires Court of Labor Appeals (CNAT) decided to maintain the interest rates established in the CNTA Minutes No. 2601/14, 2630/16, and 2658/17, but with an annual capitalization as from the date the complaint is notified.
This is a monetary updating mechanism that seeks to: (i) maintain the value of labor credits in a context of high inflation, and (ii) unify the criteria for updating labor credits, to avoid the diverse criteria that had been applied recently.
The minute will cause a substantial increase in the labor credit amounts determined by final court rulings and some discussions about its application to each specific case.
This insight is a brief comment on legal news in Argentina; it does not purport to be an exhaustive analysis or to provide legal advice.