Doral Financial soars after Supreme Court ruling

|About: Doral Financial Corporation (DRL)|By:, SA News Editor

"Now the burden is on government to demonstrate the basis for its decision to arbitrarily nullify its longstanding tax agreement with Doral (NYSE:DRL)," says the bank's counsel in a statement following the Supreme Court of Puerto Rico ordering the Court of First Instance to expedite an evidentiary hearing in Doral's suit against the government.

"While we are confident that our case will prevail in court, we hope that the government of Puerto Rico will take this opportunity to reconsider its ill-conceived decision to abandon its contractual obligation to Doral."

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