The former high-flying politician and current murder suspect, Duarte Lima, has been declared insolvent by a Lisbon court.
The refusal of Duarte Lima's creditors this April to allow him flexibility has led to his insolvency, owing €31.7 million to a variety of creditors including State-owned Novo Banco and Parvalorem.
"In the District of Lisbon, Lisbon - Central Instance - 1st Sec.Comércio - J3 of Lisbon, on December 16, 2016, at 3:36 pm, a judgment was issued declaring the insolvency of the debtor: Domingos Duarte Lima" reads a note published on the Citius website, dated 21st of December.
From the publication date of Lima’s insolvency, he has 30 days before collection procedures can start.
Lima, a former MP and party leader, has been accused in Brazil of murdering heiress Rosalina Ribeiro and transferring €5.2 in funds she had controlled to his Swiss bank account. The former parliamentary leader of the PSD was acting as Ribeiro’s lawyer in a case that involved the estate of Portuguese millionaire Lucio Feiteira who died in 2000.
Lima now owes Novo Banco €10.9 million, with Parvalorem lodging a claim of €20.7 million.
Loan security of a Chinese porcelain collection is one of the examples of Lima’s assets but he is about to suffer the indignity of having any remaining property, bank accounts and goods, seized, just like if he was a normal citizen.
Lima’s attempt in April to foist his company Dulivira onto his creditors sensibly was refused as it went bust two months later.
Menawhile, his appeal against a 10-year jail term for qualified fraud and money-laundering in Portugal, is being prepared.