Doral Floats $11M Bankruptcy Sale For Insurance Wing

Law360, New York (April 2, 2015, 1:38 PM EDT) -- Puerto Rico's Doral Financial Corp. on Tuesday proposed selling off an insurance division at a bankruptcy auction anchored by Anglo-Puerto Rican Insurance Corp.’s $10.75 million stalking-horse offer, the first step toward repaying creditors since the lender’s collapse into liquidation.

Driven to bankruptcy last month by the loss of a $229 million tax claim against the Puerto Rican government, Doral filed papers in New York bankruptcy court outlining a proposed May 12 auction of Doral Insurance Agency LLC, which acted as an insurance agent for the debtor’s...
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Case Information

Case Title

Doral Financial Corporation


Case Number

1:15-bk-10573

Court

New York Southern

Nature of Suit

Date Filed

March 11, 2015

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