Madeira District Court confirms seizure
The news feed madeiraisland.news has picked up a story that the Madeira District Court yesterday confirmed the seizure of Monte Palace, belonging to the Berardo Foundation, which also makes headlines in today’s edition of the Diario. The seizure, previously reported here in more detail, was requested by the bank Caixa Geral de Depósitos and is owned by the now rather infamous Madeiran businessman Joe Berardo, through the Berardo Foundation and the Collections Association.
There is quite a long Wikipedia entry for Joe Berardo, detailing his dispute with CGD.
The seizure does not cover the tropical gardens, only the house, reported worth tens of millions.