CGD Fund in Casimiro bankruptcy call

The real estate fund Fundimo, which is managed by the State-run bank Caixa Geral de Depósitos, has requested that entrepreneur Alfredo Casimiro should be officially declared bankrupt.

Casimiro, who was the main shareholder in the airport baggage handling company Groundforce, owes the fund €973 million from his removals and logistics company Urbanos.
According to Expresso, which quotes information on the portal Citius, CGD has made a legal request for Alfredo Casimiro to be declared bankrupt. The request was filed on 26 November at a Lisbon commercial court. Neither CGD nor Alfredo Casimiro were available to comment.
Expresso adds that according to Fundimo’s half-year financial report, Urbanos was one of the main debtors to the fund, with payments in arrears of €973,000.
In addition to being the main shareholder of Urbanos, Alfredo Casimiro controls Pasogal, a company that holds 50.01% of the Portuguese baggage handling company Groundforce.