The Council of State has temporarily suspended, as a precautionary measure, the transformation of the popular banks into joint stock companies, an operation envisaged by the reform of the sector launched by the Renzi government. The judges therefore accepted the request presented by a group of shareholders.
The suspension, which in fact extends the one already decided previously, will be valid until the sentence on the merits, which will be issued after the hearing on 18 October next.
The provision of the administrative judges follows and adds to the de facto suspension already ordered by the milleproroghe decree, which had extended the terms for the transformation until 31 December of this year.
The only banks that have yet to turn into joint stock companies are Popolare Sondrio among the listed ones and Popolare Bari among the unlisted ones.
