Seeking Alpha

Doral higher after court decision

  • The Puerto Rican Court of First Instance rules it lacks jurisdiction to determine whether Doral Financial (DRL) is entitled to a $229M tax refund from the Commonwealth, but the Court does say Treasury's annulment of an agreement between it and Doral is not a final decision, but instead only a preliminary action subject to administrative challenge.
  • The annulled agreement between Treasury and Doral had called for the $229M tax refund.
  • Shares +1.7% premarket
  • SEC Form 8-K
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