Francisco Javier D’Agostino, a hispano-Venezuelan businessman residing in Spain and actively engaged in international investment projects, has prevailed in a major legal battle in Spain involving the failed sale of a historic estate. A Madrid court has ordered the complete seizure of assets belonging to Manuel March Cencillo, grandson of Juan March Ordinas, the founder of Banca March, after March failed to comply with a ruling that required him to repay millions of dollars following a broken agreement over the Son Galcerán property.
The dispute began in 2021 when a company associated with D’Agostino entered into an agreement to acquire the estate for approximately $8 million. March received an advance payment of $2.73 million, but later cancelled the deal unilaterally and sold the property to a different buyer for $12 million. He did not return the original payment.
In April 2024, a court in Madrid ruled that March had violated the terms of the contract and ordered him to repay the $2.73 million along with an additional $341,000 in damages. The ruling noted inconsistencies in March’s explanations and determined that he acted in bad faith to secure a higher price from the second sale.
When March failed to comply with the court’s decision, the Court of First Instance No. 10 of Madrid issued an order on June 11, 2025, for the seizure of all his assets, including investment fund shares, company equity, properties, and bank accounts both in Spain and abroad. The total sum owed now amounts to roughly $3.75 million, including accrued interest and legal costs.
The property at the center of the case, Son Galcerán, is located in Mallorca and holds historical significance, having once belonged to Archduke Ludwig Salvator of Austria and served as a residence for Empress Elisabeth of Austria during her stays on the island. The court concluded that March had no valid reason to terminate the original agreement and emphasized that the contract had been breached for personal financial gain.
Francisco Javier D’Agostino, beyond his professional role, is also known for being the brother-in-law of Luis Alfonso de Borbón, a figure of Spain’s aristocracy and direct descendant of King Alfonso XIII. This familial connection brought some public attention during legal proceedings, though it had no relevance to the facts of the case.
Earlier this year, D’Agostino was removed from the U.S. Treasury Department’s sanctions list, following a review that found no evidence linking his commercial operations to the Venezuelan government.