Uncertainty about the future of Fundesem will continue a little longer. Commercial Court No. 1 of Alicante The deadline for creditors to comply with the settlement offer has been extended by one month. submitted by the business school to tackle bankruptcy, a term that expires this week.
The decision was made upon the request of Fundesem’s bankruptcy manager, PKF Tasdik Bankruptcy. Valencia Institute for Business Competitiveness (Ivace) has time to collect government bodies Deciding on the offer is something that is expected to happen in the coming weeks. The regional body under the Ministry of Sustainable Economy, is the key to the whole process, because he owns more than 50% of the debt, the deal cannot continue without his approval. Specifically, Ivace requests up to 1.6m euros from business school for late rentA building constructed by Generalitat on municipally owned land. This represents 60% of the 2.7 million debt Fundesem carried, which caused it to suspend payments.
Business school recommendation Instant payment of up to 55% of the debtthanks to the injection 1.5 million € who is willing to European University In exchange for Fundesem’s ability to use its facilities to land in Alicante, he would like to teach various degrees in socio-health there, as well as collaborate on postgraduate degrees and business education courses offered by the Alicante business school. Discount will be applied for the remaining 45%.
In this sense, it will not actually be Ivace who should be allowed to stick with the payment plan, because by including some substantial discounts, the decision must be accepted at the entire Consell level, Rafa Climent, as the head of economy, had predicted a few months ago.
However, what directly depends on the regional body and its committee, viability planand more specifically, Fundesem’s subcontracting part of the facilities It occupies this private university.
They give a guarantee from the ministry. keep analyzing the situation and that no decision has yet been made, although they are confident that they will be able to implement it in a short time.
fundamental filed for voluntary bankruptcy in July of last year, exactly after Ivace rejected the feasibility plan it presented to him, and this was already going through this partnership with the European University of Valencia. Despite this, from the business school they think that securing their future survival is the best alternative, so after the declaration of bankruptcy they reformulated the approach with the inclusion of the first injection of 1.5 million euros with no refund. The university center pays part of the debt. The initial deadline to seek creditors’ approval expired this week, but the judge agreed to extend the deadline to give Ivace time to make a decision.
Source: Informacion
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