Puerto Rico to appeal ruling in Doral Financial Corp tax dispute
Oct 10 (Reuters) - Puerto Rico will pursue "all legal options available" to appeal a court ruling that favored Doral Financial Corp in a $229 million tax dispute, Treasury Secretary Melba Acosta Febo said on Friday.
In a statement, the Treasury Secretary said she disagreed with the ruling.
"The refund payment of over $200 million, which according to the 2012 agreement is to be paid in five installments over a five year period, will remain contested by the Commonwealth of Puerto Rico until appeal processes within the judiciary system are resolved."
She noted that "applicable law allows for longer payment plans for payment of judgments." (Reporting By Robin Respaut; Editing by Ken Wills)
© Thomson Reuters 2017 All rights reserved.