Doral Rises After $229 Million Puerto Rico Tax Refund Win
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Doral Financial Corp., the holding company for Puerto Rico’s second-largest lender, rose as much as 50 percent in after-hours trading following a San Juan judge’s ruling that it’s entitled to a $229.9 million tax refund.
The Puerto Rico Department of Treasury will be required to refund the full amount over five years under the ruling yesterday by Superior Court Judge Laureana Perez Perez.