Doral Financial (DRL) is evaluating its legal options after Puerto Rico rejected the company's request for a $230 million refund of overpaid taxes.

The $8.5 billion-asset company disclosed in a regulatory filing Thursday that the territory's Treasury Department has responded to its request by declaring that a 2012 agreement "is null and that Doral has no right to a refund." Glen Wakeman, Doral's president and chief executive, had sent the agency a letter last week demanding immediate payment.

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