Doral Financial soars after Supreme Court ruling


"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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Comments (3)
  • Ocean Man
    , contributor
    Comments (647) | Send Message
     
    I don't think I'd call it soaring when a stock moves from $4 to $5 after a drop from $25.
    23 Jul 2014, 09:10 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11174) | Send Message
     
    Wasn't Doral supposed to be bankrupt by now?

     

    Smooth sailing ahead?
    23 Jul 2014, 09:27 AM Reply Like
  • joelkatz
    , contributor
    Comments (566) | Send Message
     
    I commend 1980XLS for his success in picking this right as well!
    23 Jul 2014, 02:28 PM Reply Like
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