Doral Financial CorporationNYSE
Mar. 12, 2015, 6:45 AM
- Doral Financial (NYSE:DRL) has filed for voluntary Chapter 11 bankruptcy protection, saying it intends to wind down its businesses, liquidate its assets, and seek approval for a liquidation plan.
- The financial services company listed assets of $50M-$100M and liabilities of $100M-$500M.
- Its subsidiaries - Doral Insurance Agency, Doral Recovery, and Doral Properties, have not filed for bankruptcy protection.
Feb. 27, 2015, 3:17 PM
Feb. 27, 2015, 9:15 AM
- Gainers: XIN +20%. CYCC +17%. SREV +16%. BLOX +16%. CYTX +13%. CLNE +12%. MNST +10%. ATOS +10%. SD +9%. SPLK +7%. MEET +6%. ARUN +6%. VIMC +6%. HZNP +6%.
- Losers: CVSL -42%. RESN -28%. MOSY -21%. WTW -18%. TUBE -17%. TBIO -14%. JCP -13%. DRL -13%. GENE -11%. OCN -8%. PBPB -8%. NBG -8%. NVAX -7%. FRO -5%.
Feb. 25, 2015, 10:33 AM
- Doral Financial (DRL -4.1%) discloses receipt of the Joint Report of Examination from the FDIC and Puerto Rico Office of the Commissioner for Financial Institutions, as well as a Prompt Corrective Action letter from the FDIC notifying it of being "critically undercapitalized," and subjecting the lender to a number of operating restrictions.
- SEC Form 8-K
Jan. 28, 2015, 10:10 AM
- The Federal Home Loan Bank will only allow Doral Financial (DRL -7.6%) to borrow funds overnight, rather than for 30 days.
- The FHLB reminds it cannot lend at all if so notified by the FDIC. The next scheduled check of Doral's status with the FDIC is Feb. 22, and it's not looking great as the bank has received a directive from the agency to boost its capital and/or merge with another lender.
- Source: SEC Form 8-K
Jan. 22, 2015, 4:11 PM
Jan. 20, 2015, 8:49 AM
Jan. 2, 2015, 1:57 PM
- The Puerto Rican government has indeed appealed Doral Financial's (DRL +3.8%) $229M tax victory, reports Bloomberg, which says the filing happened on Dec. 31. Doral owners had held out some hope the government would let the appeal deadline slide by, but a spokesman last week said an appeal would be filed.
- Doral is nicely higher today as maybe those who have studied the appeal don't find the legal arguments very strong.
- Previously: Puerto Rico to appeal Doral tax ruling (Dec. 30, 2014)
Dec. 30, 2014, 8:53 AM
- Doral Financial (NYSE:DRL) soared 27% yesterday on hope the Puerto Rican government would not appeal a $229M tax judgement in favor of the struggling bank.
- A spokesman for the Commonwealth's Government Development Bank, however, says an appeal will be filed this week.
- Shares are lower by 5.9% in very light premarket trading.
Dec. 23, 2014, 12:20 PM
Dec. 23, 2014, 11:14 AM
Dec. 23, 2014, 9:18 AM
Dec. 12, 2014, 12:46 PM
Nov. 5, 2014, 8:41 AM
- The Court of First Instance has denied the Puerto Rican Treasury's appeal of last month's verdict in favor of Doral Financial (NYSE:DRL). Treasury now has sixty days to appeal the ruling to the Court of Appeals of Puerto Rico.
- DRL +6.5% premarket
- Previously: Doral Financial wins Puerto Rico tax case; +50% premarket
Oct. 13, 2014, 12:46 PM
Oct. 13, 2014, 9:28 AM