Marinate meat in ¼ cup sherry for at least 1 hour.
In a heavy frying pan over medium fire, heat ¼ cup of the oil until slightly smokey, then brown meat slightly.
Remove from pan and set aside. In a thick, medium pot with lid over low fire, heat the rest of the olive oil.
Saute garlic until light brown.
Add tomatoes and simmer for 5 minutes then add tomato sauce and simmer another 5 minutes.
Stir mixture every 2-3 minutes to prevent burning.
Add meat to tomato mixture and simmer for 5 minutes.
Add water or broth and simmer another 10 minutes.
Add liver spread, pimiento, olives and cheese and simmer until meat is tender.
If the mixture is too thick, add more broth or water.
( the time required to tenderize the meat depends a lot on the quality of the meat , so watch out that the liquid does not dry up.)
Season with hot sauce and salt to taste. Add remaining 2 tbsp sherry and simmer for 1 minute. Adjust seasonings to taste.