Consell’s plenary approved today The dismissal of Isa Castelló, Director General for the Public Sector and Heritage. The decision was taken by keeping a record of non-compliance with the creditors agreement that will ensure the continuity of the Fundesem business school and by refusing to sign this agreement, which was approved at the same general assembly today.
It was last February when the board of the Valencia Institute for Business Competitiveness (Ivace) approved that body’s participation in the business school’s proposal for a creditors agreement to get out of the bankruptcy situation in which it found itself. . A necessary decision to avoid liquidation of the center, thanks to an agreement reached with the European University of Valencia, which is willing to make a large initial outlay to pay off 55% of the debt and in return guarantee a range of annual income. To be able to use the facilities for landing in Alicante.
With the approval of this department under the Ministry of Economy; Ministry of Finance approval was also missing. And this is where a number of inconsistencies have emerged in recent weeks. A report by Isa Castelló opposes ratification of the deal, apparently as implying a 45% reduction.. Frictions have continued in recent weeks, to the point where Alicante Commercial Court No. 1 had to approve a 15-day extension to stick to the creditors’ agreement due to Generalitat’s delay to maturity. to confirm
With this measure, Consell had no choice but to fully honor the deal this week or next week. It was finally this Friday, with the signature of María José Mira, the regional secretary since Isa Castelló’s dismissal. Despite The official version is that he left the post for personal reasons.The fact is that sources consulted by this newspaper linked the decision to a series of inconsistencies that he had recently pursued directly with his circle, culminating in his refusal to ratify the deal.
Regarding the agreement, Consell approved the implementation of a 45% reduction of the debt equivalent to 606,476.50 euros. This asset of 1,347,725.55 Euros, which was contracted by Fundesem with Ivace, is included in the creditors agreement proposal submitted by this organization on 1 November in the Commercial Court of Alicante.
On February 8, Ivace’s board agreed to comply with the creditor agreement proposal expressed by Fundesem, as it is intended to be an opportunity for the asset to be viable and sustainable, with the feasibility plan accompanying it.
The proposal was also signed by the European University of Valencia (UEV). Thus, the commitment of the UEV contribute 1.5 million euros to reactivate the teaching activity from Fundesem.
In addition, due to the continuity of the Fundesem brand, the adoption of the contract accepted by Evace management is justified. Maintains a reference job training center for thousands of businessmen and professionals in the state of AlicanteTo continue to train the qualified personnel needed by Alicante’s productive fabric.