The defunct parent of Puerto Rico’s failed Doral Bank is asking a judge for more time to stay in control of its bankruptcy case as it works with its unsecured creditors on a reorganization plan, the Wall Street Journal reported today. This is the second time since November that Doral Financial Corp. is requesting an extension of its exclusivity period. Doral won approval in November from Bankruptcy Judge Shelley C. Chapman to have through Dec. 31, 2015, to file a plan to pay back its creditors. But on Thursday, the day of the deadline, Doral said that it needed more time for its liquidation and to file its plan, especially since it has been working with its creditors on preserving an annual $59 million tax benefit. The bank said in court papers that it anticipates filing a plan by the end of the month but is looking to keep control through Feb. 29.
