Monte Palace seizure confirmed

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.

1 thought on “Monte Palace seizure confirmed”

  1. I assume the actual Tropical Gardens are in public ownership? Maybe the house should also go that way and be open to the public. It could be a museum/art gallery etc.

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