The seizure of a significant part of João Pereira Coutinho’s retirement once again placed the businessman’s name at the center of current affairs. The case is related to a debt of more than 14.7 million euros claimed by Caixa Geral de Depósitos (CGD), in a process that led the courts to authorize the monthly retention of a substantial part of the income of the former businessman, who was among the richest men in Portugal.
According to , the measure is the result of the default on financing granted to a company owned by João Pereira Coutinho.
A debt of millions
According to information provided by the newspaper, CGD initiated an execution in November 2024 to recover a credit of more than 14.7 million euros, plus around 735,000 euros relating to expenses associated with the process. The origin of the debt is a loan granted to Palome – Trading e Investimentos Internacionais, the businessman’s company.
A ruling by the Lisbon Court of Appeal, dated May 21, determined that João Pereira Coutinho’s gross monthly pension, worth 8,348 euros, is subject to a monthly seizure of 5,738 euros. In practice, the entrepreneur now has around R$2,610 per month, an amount corresponding to approximately three national minimum wages.
Guarantees did not prevent the decision
The financing granted by CGD was supported by several guarantees. Among them were a mortgage on the island of Chapter, located in Angra dos Reis, in Brazil, shareholdings in companies and even a promissory note guaranteed by the businessman himself. Despite this, the newspaper writes, the public bank decided to move forward with additional executive measures to reinforce credit recovery.
In addition to the pension seizure, a property located in Carcavelos was also covered, whose asset value is around 207 thousand euros. João Pereira Coutinho contested the decision, arguing that the assets already provided as collateral would be sufficient to ensure payment of the debt and that the new seizure would be unnecessary.
Court upheld the attachment
The arguments presented by the businessman did not convince the Appeal judges. According to the same source, the court concluded that the values resulting from the seizure of the pension and property represent only a small portion of the total amount claimed by CGD.
The judges understood, therefore, that there is no disproportion between the debt and the measures adopted. The decision confirmed the understanding of the first instance and allowed the maintenance of the monthly attachment on the businessman’s retirement.
Known property of the Portuguese
Among the assets associated with the process is the Chapter Island, a property of around 5.5 hectares located in Angra dos Reis. The place gained notoriety in Portugal in the early 2000s, when it received a visit from then Prime Minister Durão Barroso.
According to Correio da Manhã, the property remains mortgaged to Caixa Geral de Depósitos, integrating the set of guarantees initially presented within the scope of the loan granted to João Pereira Coutinho’s company.
Impact of the decision
The court decision represents yet another development in a high-value financial process that involves one of the business figures who, for years, was part of the highest levels of the largest national fortunes. Although the existence of real guarantees was one of the central arguments of the defense, the courts considered that the size of the debt justified the maintenance of the executive measures.
With this decision, CGD will withhold more than two thirds of the businessman’s pension monthly while the credit recovery process is underway, in a case that continues to be monitored by Portuguese justice.
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