Bloomberg reported FirstBank Puerto Rico called a court filing to be “false and misleading” by a bankrupt British Virgin Islands luxury resort owner saying a settlement had been reached over the bank’s claims.

According to Bloomberg , the resort owner, Scrub Island Development Group, filed a restructuring proposal March 19, 2014, in U.S. Bankruptcy Court in Tampa, FL, saying it had an agreement with FirstBank on the treatment of almost $120 million in claims.

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