Doral Financial granted court approval to extend exclusivity periods

By Mark Reccek

Bethlehem, Pa., Nov. 3 – Doral Financial Corp. received court authorization to extend its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

The company’s exclusive filing period was extended through Dec. 31 from Oct. 7 and the solicitation period through March 30 from Jan. 5.

As previously reported, Doral said the extensions are needed to afford the company additional time to finalize the liquidation of some remaining assets and to complete Chapter 11 plan negotiations.

Doral is a holding company based in San Juan, Puerto Rico. The company filed for bankruptcy on March 11, 2015 under Chapter 11 case number 15-10573.

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