Novo Banco, an entity born in 2014 on the ashes of Banco Espirito Santo (BES), returns to the charge against Ignacio Silva Botas, the former economic vice president of Real Madrid during the presidency of Lorenzo Sanz between 1995 and 2000 and in the news spotlight in recent years as he became Richard Gere’s father-in-law after the American actor’s wedding with his daughter, Alejandra Silva.
Last September, the Court of First Instance number 31 of Madrid urged, in the framework of a foreclosure procedure, the auction of several of its properties to be able to settle said debt close to 24 million euros. That auction was canceled, therefore there were no bids and no property was sold Therefore, Novo Banco could not recover a single euro of that debt. As various sources explain to El Confidencial, an auction can be canceled if the debtor pays the debt or for exceptional reasons such as defects in publication or, for example, a state of alarm.
The last auction was canceled and now there will only be bids for three homes
Now, just six months later, the same court has called an auction again, although this time it leaves out several farms owned by Ignacio Silva Botas and one of his companies, Agropecuaria Madrigal, in Villarejo de Montalbán and Carpio de Tajo (Toledo), those with which it could have obtained the highest income, just over 24 million euros, and have canceled all the debt.
However, these farms are ultimately left out of the auction, which focuses on two houses located in the center of Madrid and one in the Madrid municipality of Pozuelo de Alarcón. The amount claimed remains the same —23,999,925.59 euros— and the auction value of the properties remains the same as well.
As El Confidencial has already advanced, the first of these properties is an attic house located at 43 Velázquez Street, which goes up for auction with a minimum bidding price of 1,245,450.46 euros. To be able to bid, it is necessary to make a deposit of 62,272 euros. The house in question was acquired in March 2007 by Ignacio Silva and has a surface area of almost 120 meters and the exclusive use of a terrace.
The house was mortgaged in favor, precisely, of Banco Espirito Santo and on this property there are, in addition, several preventive annotations of seizure. One in favor of a lawyer, Javier Guisasola Arnaiz, who claims 30,000 euros, plus 9,000 in costs, and another for almost 150,000 euros in favor of the community of owners of José Abascal 55 where, precisely, another of the assets subject is located however. Specific, a 200-meter flat located on the eighth floor of this building, up for auction for almost 2.7 million euros.
The judge also urged the auction of another 1,500-meter single-family home, in the Madrid municipality of Pozuelo de Alarcón, with an auction value of 6.45 million euros. Each of these homes is auctioned separately.
A loan of 27 million
The certificate of loads of the repossessed homes reveals that Ignacio Silva Botas requested a loan from Banco Espirito Santo amounting to 27 million euros and signed a guarantee or guarantee provision policy for a maximum of 7.5 million euros, with an indefinite maturity.
The entity granted this loan “with the character of a mortgage market hedging operation”, while Ignacio Silva offered to complete “his personal solidarity and unlimited liability” with the mortgage guarantee of several properties, among them, three farms owned by Agropecuaria Madrigal, which are precisely those that have now been left out of the auction. The appraisal value of all the properties that were placed as mortgage guarantee for that loan amounted to 41.3 million euros.
In total, the loan signed with Banco Espirito Santo obliged the businessman to return 34.5 million euros as the principal of the credit granted and two million, agreed for costs and expenses. That loan was valid for three years, although the parties expressly agreed that it could be extended for annual periods up to a maximum of five years.
That loan, whose non-payment now motivates the auction of several of Ignacio Silva’s properties, also obliged him to “have the farms insured against damage or fire“, as well as to carry out” the necessary works and repairs so that its value does not diminish. ”
Get at least 10.4 million
With the three homes, Novo Banco hopes to get at least 10.4 million euros. Insufficient amount to pay off the debt. In fact, it is not with these properties (Velázquez, José Abascal and Pozuelo) with which Novo Banco could have obtained higher income, but with the rustic properties that, unlike what happened in September, are out of the auction.
Those farms were Madrigal de Abajo, in the municipality of Carpio de Tajo and Villarejo de Montalbán – and that could be the family farm. Two plots of land, one of 687 hectares and the other of 581 hectares, owned by Agropecuaria Madrigal, the company of Ignacio Silva Botas. The first one went up for auction for 13.4 million euros and the other, for 10.75 million. The estate called El Quintillo, in Villarejo de Montalbán, with 177 hectares, which in September 2020 went up for auction for about three million euros, has also been left out.
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Novo Banco returns to the charge against Richard Gere’s father-in-law and his properties