Doral Financial Corp. (DRLCQ)

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Here is the latest from an 8K this morning:


As previously disclosed, Doral Financial Corporation (the "Company") and certain of its subsidiaries (collectively with the Company, "Doral") have filed a lawsuit (the "Lawsuit") against the Commonwealth of Puerto Rico (the "Commonwealth"), the Puerto Rico Department of the Treasury (the "Treasury Department") and the Secretary of the Treasury Department, Hon. Melba Acosta Febo, in her official capacity, as defendants, in the Court of First Instance of Puerto Rico (the "Court of First Instance") seeking to enforce the Closing Agreement dated March 26, 2012 between Doral and the Treasury Department (the "2012 Closing Agreement") and to collect the $229 million owed to Doral under the 2012 Closing Agreement.

There have been a number of decisions and developments relating to this case, as previously described by the Company in several Current Reports on Form 8-K filed with the Securities and Exchange Commission (the "SEC"). Most recently, Doral and the Treasury Department entered into court-supervised negotiations to settle all claims by Doral with regards to the subject matter of the Lawsuit and initially had ten (10) business days from August 8, 2014 to finalize the terms of a settlement agreement. On August 22, 2014, Doral and the Treasury Department agreed to extend the negotiations until Monday, August 25, 2014 when the parties are to appear before the Court of First Instance. Although there is a proposed framework for settlement, the final settlement is still being negotiated by the parties and remains subject to approval by the Court of First Instance.