Heres the funny part, PR just made DRL an offer and DRL said no since they want government vouchers so now PR bashes Shapiro, seems like PR is getting desperate ..... Doral has hired a celebrity economist to argue their case publicly, but the facts remain clear. Mr. Shapiro is misinformed as to the policy of the Commonwealth of Puerto Rico and its account payables. Mr. Shapiro fails to distinguish between a valid accounts payable of Puerto Rico and the tax related claim and dispute of one of its taxpayers. The Commonwealth has a policy and on‐going commitment to fulfill its contractual obligations and to defray its accounts payable as these become due.
I just found out the bank is going to have a sign that says we are closed, its going to happen on Sunday, but will be reopening soon
Red, I believe they will try to get them at a bargain price but chances are slim, now with BPOP selling all there U.S mainland banks, I don't think BPOP will be a profitable bank in PR unless the economy picks up.
Hello Don. BPOP is selling bank branches in Illinios, California and Northern Florida as they want to buy banks in New York and Southern Florida and Doral has banks in New York and Southern Florida and Doral said they would auction them off, those are prime bank areas and if BPOP wants those banks they will have to pay a premium, those guys on BPOP have it completely wrong thinking we are going to get great banks in New York and Southern Florida at fire side sales LOL, they will see who they are bidding against, here`s BPOP statement that have BPOP investors believing they will get them for cheap,,,, ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, According to Popular, it has entered into definitive agreements to divest its 41 regional branches including approximately $1.8 billion in loan and $2.1 billion in deposits in California, Illinois and Central Florida to three distinct buyers. The other two sale transactions are expected to be concluded by the end of this year.
Popular has undertaken this divestiture initiative to concentrate solely on the central markets of New York and South Florida. Moreover, the company looks forward to enhance business activities and optimize invested capital by streamlining its operations.
The PR government offer those vouchers at 39% usage which doral could sell, trouble was PR later wanted Doral to issue them but Doral said no we want the Government to issue them, Doral can sell Government tax voucher but not there own, Doral did the right thing.
and you invested in Doral for what reason? if DRL gets Government tax voucher, those alone are worth 279 million and that doesn't include the 250 million tax credit, putting this bank in a better shape then BPOP, the Tier 1 will be met easily and you getting the lowlife buchanan here to trash this stock is low.
Buchanan maybe you might check your own math out, don't forget all the forward splits to your calculations,,,, Splits: Dec 13, 1993 [2:1], Aug 29, 1997 [2:1], May 21, 1998 [2:1], Sep 16, 2002 [3:2], Dec 12, 2003 [3:2], but we cant expect that from someone who doesn't know math but comes on a board to give out half information.
First time they did vouchers with Doral the time frame they could use them was 15 years, no one will buy vouchers at premium price to be used over 15 years if these new ones are a 15 year time frame, and yes they are useless with the economy in terrible condition in PR, the great part of the whole thing is PR now recognizes they owe Doral and they will have to fulfill the contract after the court case is over.
The funny part is why would PR give Doral a new contract when PR`s whole entire issue was the old contract is null , but PR says here`s a new one LOL
Doral won this case, if PR made an offer of credit of 900 million which Doral cant use and PR knows that, then I understand Doral going to court, they prove they were in the right and PR proved they were in the wrong. good luck everyone
max a voucher is worth is 30 percent on the dollar, its a tax voucher, that's 210 million and no one will pay 210 million but if PR made a deal like that they know they just loss, total with voucher and tax credit is 295 million, that's more then what PR owes DRL, PR knows they cant use those vouchers and tax credits, now its court time and Doral won
tax vouchers are useless unless the economy was doing great, Doral needs cash for their Tier 1 not vouchers that the FDIC wont recognize. IF that agreement was made yesterday then Doral cannot accept it unless they find buyers for those vouchers, that's what they might be doing right not to except the deal but only if they find buyers.
Hello Trace to clear things up, Red is not Buchanan, Red also used the nickname of Mariaraybrenda on stocktwit of 2 different ladies we both know, he said he sold his position in DRL and when he says that I believe him, he isn't out to harm anyone he is just investing the way he believes, we all change our minds as different news comes out, I am still in with half my position, but with all the flipping I did on this stock I am not in a loss at all even if it goes to a penny, but I believe it will go back up, good luck
It is worth 0.02 times 400 which equals 8.00 a share,,,,, your words,,, 1 for 400 R-S total. Reverse splits raise the price, ,,,,,,, so with 400 times less shares the share price must be times by 400,,,,,,,,,,, you come on his board while we been flipping and making a killing but anyone here can check your posts and see you don't name one stock your invested in, your math scuks
Trace this is part of the 8K today ( 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. ) Now remember we had Congress write to the PR governor for answers regarding voiding out a legal contract. The lower courts know contracts cant be broken that easily, it takes fraud which isn't the case here, its the new terms that both parties that (probably) already agreed to, to be passed by the judge as final. good luck
2014-08-22 DRL Doral Financial Corp 175233those who shorted 620104those who went long 795337total between shorts and longs 22 percent shorted
I thought the same thing that we didn't sanction Sberbank unless Sherbank is an ADR set up by Duestch Bank then I can understand, will have to wait and see.