Ricardo Oliveira left an inheritance of €23.77 million, but the deposited funds were limited to a small amount.
Ricardo Oliveira, the businessman known as the BPN millionaire, died a year ago and left behind, among other assets, a bank balance of 659 million euros. The value of the money deposited in the banks is reflected in the appeal filed by the four heiresses against the bankruptcy petition for the businessman's inheritance, which was filed by SLN Valor, the former owner of BPN, before the Lisbon Commercial Court. Oliveira owned a rare collection of 74 classic cars, all Mercedes-Benz, worth 50 million euros. The first hearing of the trial of the businessman's undivided inheritance was scheduled for early July, but was postponed until October.
The inheritance assets shown in the defence of the heirs, the ex-wife and the three daughters, have a total value of 23.77 million euros. In this asset, the sum of 659 euros deposited in the bank is the only cash asset.
Of the total inheritance, there are two main assets: €12.95 million of supplies and additional payments made by the businessman to companies; and €10.81 million related to contributions (shares) in companies. The assets are, according to the dispute, part of the list of assets included in the businessman's death report to the tax authorities. Among the inheritance assets, through the company RO – Car Clássico, are the seven classic cars that were not sold at the group's auction held in 2013 in London.
The dispute also indicates that the property has a debt of €2.83 million, which would include the debt claimed by the previous owner of BPN: SLN Valor is demanding payment of a debt of €1.98 million, resulting from a court ruling in 2009. The creditor tried to recover the debt through enforcement proceedings in 2013, but was unable to do so.
The inheritance defense argues that the value of the debt that SLN Valor is seeking is false and that your assets are much higher than the debt. For this reason, the defense claims that the inheritance is “not insolvent.”
Valuable collection sold at auction
The 74 vintage cars were put up for auction in London in 2013. The auctioneer estimated the proceeds at between €15 million and €21 million, but the collection was expected to fetch around €50 million, due to the rarity of the collection. Sixty-seven cars sold for more than €10 million.
Cars seized at the time of sale
At the time of the classic car auction, Parvalorem, a public entity that inherited assets from BPN, took over the group, due to an alleged debt owed by Ricardo Oliveira to BPN. Oliveira was acquitted in the BPN case and the debt was paid. The defense says the arrest caused the auction to fail.
“Wannabe internet buff. Future teen idol. Hardcore zombie guru. Gamer. Avid creator. Entrepreneur. Bacon ninja.”