Duarte Lima’s luxury apartment has been sold at auction for €2.035 million as part of an insolvency proceeding.
The two apartments, a T4 and a T6, have a total area of 501 m2 on the 11th floor of 1 da Rua Avenida Visconde Valmor, Avenidas Novas, Lisbon.
The buyer now has a T6 with 274m2, a T4 with 227m2 and a garage with two parking spaces.
The electronic auction, which started a little over a month ago, started with a base value of €1.96 million but ended up closing on Wednesday at over €2 million.
Additional of Lima's assets, art and furniture, have a starting price of €40,000. These included various watercolors, oil paintings, sculptures, sofas, tables, armchairs, lamps and an organ.
However, unlike the apartment sale, this auction closed without any bidding.
The insolvency proceedings against Duarte Lima was handed out by the Commercial Court of Lisbon to settle money owned to Parvalorem, Novo Banco and the estate of businessman Tomé Feteira.
Lima owes Parlalorem €20 million, an additional €10.9 million to Novo Banco and about €9 million to the estate of Tomé Feteira.
Duarte Lima was sentenced in November 2014, to ten years' imprisonment for the qualified fraud and money laundering in the BPN Homeland case involving a dodgy deal over land in the municipality of Oeiras where the Portuguese Institute of Oncology was to be built, with a loan from BPN.
The former MP went to the Lisbon Court of Appeal, which in April 2016 reduced his sentence to six years in prison.
Since then, Lima has whiled away his time by lodging appeal after appeal – he is a lawyer after all – in the hope he will avoid the discomfort of jail.
Lima also faces a murder trial in Brazil.
