SAN JUAN, Puerto Rico, July 24, 2014 /PRNewswire-HISPANIC PR WIRE/ — Today, the Government of Puerto Rico continued its delay tactics to escape the burden of proving fraud or malfeasance in the case of Doral vs. Hacienda. The Hacienda motioned to delay the trial schedule in response the Puerto Rico Supreme Court’s ruling that the trial with Doral must happen on an expedited basis.

Doral counsel Matthew D. McGill, partner at Gibson, Dunn & Crutcher issued the following statement:

“The Puerto Rican government is becoming increasingly desperate as it attempts to avoid paying the bank a debt that has been acknowledged by successive administrations over the last eight years. The government continues leveling unfounded accusations against Doral and has engaged in delay tactics in and out of court because it knows that it cannot meet the burden of proof that the court has ordered. In the process, the government is sending a chilling message to potential investors considering Puerto Rico as a place to do business. The government has it within its power to undo this damage by negotiating a solution with Doral that is fair for all parties. Doral has accommodated both the court’s and the government’s requests at every turn. We are simply asking for the same treatment in return.”

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 the case of Doral Financial Corporation against the Government of Puerto Rico can be found at www.DoralPuertoRicoFacts.com.