Media Teleconference Today: Doral Financial Corporation Wins Appeal on Lawsuit Against Hacienda, Announces Media Update Call with Chief Legal Counsel

SAN JUAN, Puerto Rico, July 2, 2014 /PRNewswire/ -- Doral Financial Corporation Lead Legal Counsel Matt McGill of Gibson, Dunn & Crutcher will hold a media teleconference call on Wednesday, July 2, 2014, at 12:30pm EDT to provide an update on the Doral case against the Government of Puerto Rico.

On Tuesday, July 1, the Court of Appeals of Puerto Rico unanimously ruled that the Court of First Instance of Puerto Rico erred when it ruled that it lacked jurisdiction to hear Doral's case against the Hacienda. In its decision, the Court of Appeals stated that the Supreme Court has recognized the urgency of this matter on two occasions, and ordered the Court of First Instance to hold an evidentiary hearing in which the Treasury Department will have the burden to prove the alleged fraud, malfeasance or misrepresentation of material facts that would constitute a valid basis for the Treasury Department to set aside the Closing Agreement.

To join the legal update call, please RSVP to Miriam Warren at [email protected]. The coordinates are as follows: 866-952-1906 or 785-424-1826; Conference ID: Doral.

For more information on the case, follow @DoralPRFacts on Twitter. A copy of the July 1, 2014 Form 8K can be found at www.doralpuertoricofacts.com.

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 Doral Financial Corporation can  be found at www.doralpuertoricofacts.com.

SOURCE Doral Financial Corporation