|By PR Newswire||
|August 22, 2014 11:20 AM EDT||
SAN JUAN, Puerto Rico, Aug. 22, 2014 /PRNewswire/ -- In response to recent developments in the negotiations between Doral Financial Corporation and the Puerto Rico Treasury Department, Matthew D. McGill of Gibson, Dunn and Crutcher issued the following statement:
"Doral has not left the negotiations. The Treasury Department attempted on Thursday to introduce into the negotiations so-called "business points" conceived by its new outside counsel, Foley & Lardner, that were contrary to the provisions of the agreement reached and sworn to by the parties in front of Judge Perez-Perez of the Court of the First Instance. Foley & Lardner recently represented Doral in a related matter and that raises a conflict of interest. It has a duty of loyalty to its client, Doral, from acting adversely to Doral. For that reason, Doral sought guidance from Judge Perez-Perez as to how to proceed. Judge Perez-Perez ruled that the parties will continue negotiations today under her supervision, without the participation of Foley & Lardner, and according to the terms previously agreed by the parties."
Doral Financial Corporation is a bank holding company engaged in banking, mortgage banking and insurance agency activities through its wholly-owned subsidiaries Doral Bank, with operations on the mainland U.S. (New York metropolitan area and northwest region of Florida) and Puerto Rico. Doral Financial Corporation's common shares trade on the New York Stock Exchange under the symbol DRL. Additional information about the case of Doral Financial Corporation against the Government of Puerto Rico can be found at www.DoralPuertoRicoFacts.com.
SOURCE Doral Financial Corporation
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Feb. 13, 2016 11:15 PM EST Reads: 433
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Feb. 13, 2016 11:15 PM EST Reads: 314
Feb. 13, 2016 09:00 PM EST Reads: 257
Feb. 13, 2016 08:45 PM EST Reads: 400
Feb. 13, 2016 08:00 PM EST Reads: 149
Feb. 13, 2016 07:00 PM EST Reads: 418
Feb. 13, 2016 04:45 PM EST Reads: 207
Feb. 13, 2016 04:00 PM EST Reads: 513
Feb. 13, 2016 02:30 PM EST
Feb. 13, 2016 02:00 PM EST Reads: 259
Feb. 13, 2016 01:30 PM EST Reads: 288
Feb. 13, 2016 01:30 PM EST Reads: 148
Feb. 13, 2016 12:45 PM EST Reads: 475
Feb. 13, 2016 12:00 PM EST Reads: 474
Feb. 13, 2016 12:00 PM EST