CGD seizes the pension of a businessman who was one of the richest in Portugal. It has a debt of R$15 million

At issue is a debt of 14.7 million euros from a company owned by João Pereira Coutinho. Caixa will now retain 5738 of your pension of 8348 euros per month.

Caixa Geral de Depósitos (CGD) obtained judicial authorization to pawn part of João Pereira Coutinho’s retirementa businessman who became part of the group of the richest men in Portugal. According to the , the process aims to recover a debt of more than 14.7 million euros.

According to the ruling of the Lisbon Court of Appeal (TRL), dated May 21, Pereira Coutinho’s gross monthly pension, in the amount of 8,348 euros, became subject to a garnishment that retains 5738 euros per month. Around 2,610 euros per month are available to the entrepreneur, an amount equivalent to three national minimum wages.

The execution was filed by CGD in November 2024, after the default on a loan granted to Palome – Trading e Investimentos Internacionais, a company owned by Pereira Coutinho. The public bank demands payment of more than 14.7 million eurosplus around 735 thousand euros relating to expenses associated with the process.

The credit of 15 million euros granted to Palome was secured by several collateralincluding a mortgage on the island of Chapter, owned by the businessman in Angra dos Reis, Brazil, a pledge on shareholdings in two companies and a blank promissory note endorsed by Pereira Coutinho himself.

Despite the existence of these guarantees, CGD proceeded to seize the retirement pension and a property located in Carcavelos, valued for tax purposes at around 207 thousand euros. The businessman contested the decision, claiming that the assets already given as collateral would be sufficient to ensure payment of the debt.

However, the Court of Appeals rejected the arguments presented. The judges considered that, given the high amount owed, the amounts obtained through the seizure of the pension and property represent only a small part of the credit claimed by CGD. Therefore, they concluded that there was no disproportion in the measure adopted, maintaining the first instance decision.

Chapter Island, located in Angra dos Reis, became known in Portugal in 2003, when it received the then Prime Minister, Durão Barroso. With approximately 5.5 hectares, the property remains mortgaged to CGD.