The Puerto Rico Department of Justice has petitioned the U.S. Supreme Court for certiorari, ruling the constitutional validity of the Public Corporation Debt Restructuring Act, which would allow the island’s public corporations to restructure their debts through an orderly process.
Doral Financial Corp. and Puerto Rico government officials were back in the public eye Tuesday, when both parties took to the media to defend their reasons for a collapse in court-ordered negotiations regarding a $229 million tax refund the former is claiming, and the latter rescinded.
Despite word that court-ordered talks between the government and Doral Financial Corp. had broken down late Friday, representatives from both parties confirmed negotiations are still on the fate of a $229 million tax refund the bank is claiming from the government.
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