Fundesem exceeds all the steps it has taken to reach its goal so far. reopen business school. The last one was of great importance. bankruptcy manager’s opinionwho gave approval both of them viability plan by the organization and also payment plan. At this point, the last procedure and also the most decisive procedure remains, because Valencia Institute for Business Competitiveness (Ivace) supports the court-approved settlement proposal.
The said agreement is based on the agreement between Fundesem and Turkey. European Universitywho is willing 1.5 million contributions euros so that creditors can immediately collect 55% of the debt. 45% would be forgiven. From there, the foundation will implement the feasibility plan with the support of the university institution, which will enable it to reopen the business school with much greater capacity and without any financial burden.
The proposed deal has already been received at the end of November Approval of Commercial Court No. 1 Alicante, who also ruled the nature of the bankruptcy, which he saw as a coincidence, not detecting any signs of irregularity nor fraud in the management of the center’s managers.
Well, now the bankruptcy manager has shown himself. I support both the feasibility plan and the payment plan. In the first case, Fundesem’s two-part development approach is supported. a first conversion for a period of five yearsIt includes the time when Universidad Europea would work closely with the bankrupt organization. restructure and professionalize activitywill enable it to become a viable institution and for a second profitable growth Another five years during which the European University will continue to support itself.
In contrast, this feasibility plan three-way income. On the one hand, those who students those enrolled in graduate and postgraduate programs, on the other hand, programs It is carried out to meet the special educational needs of different economic and social actors in the region. The third way refers to one’s income. agreement with the European University, For an amount of 400,000 euros, 200,000 of which are related to the joint management of academic activities and spaces, the remainder with annual allocations for human resources and marketing campaigns. These contributions will add to the 1.5 million that the university institution will pay creditors.
In fact, the manager also supports the payment plan proposed by Fundesem, in which the creditors group will immediately collect 55% of the debt.
With this new guarantee, everything is now at the expense of more than half of the creditors’ approval, and therefore the position of Ivace, which monopolizes the largest part of the debt concluded by the Creditors, will be decisive in this sense. my fundasem. The time period given by the court for this decision is two months, so it will be necessary to wait for this period to end in order to find out whether the school has reopened or not.
The economy has doubts about the write-off and lease.
The Ministry of Economy, to which IVACE is affiliated, will review all reports regarding Fundesem’s deal proposal before deciding whether to support it. Minister himself, Rafa Climent, points out that the removal of 45% of the foundation’s debt from the very beginning must be approved by the Council, “so – he emphasizes – it’s not something we can decide from within our department.” . Climent points out that there are issues that need careful consideration, such as the fact that Fundesem is considering renting out the building where Ivace’s business school is located. “Explains that this cannot be done without the lessor’s permission”.