Fundesem agreement proposal and creditor support for a restart of the Alicante business school
In a critical move for Fundesem, creditors have shown strong commitment as the contract participation period neared its end. With the majority of votes already secured, the court-facing administrator has moved to present the roadmap to reopen and restore viability for the Alicante business school. A threshold of half of the debt was required for approval, and the latest results meet that benchmark, paving the way for a formal court agreement and the next steps toward stabilization.
The proposed payment plan from Fundesem’s leadership centers on a debt haircut and a staged settlement. Specifically, debt forgiveness amounts to a 45 percent reduction, while the remaining 55 percent would be settled through a contribution backed by the European University. This plan received backing from 133 creditors, representing 85.33 percent of the total ordinary debt estimated at around 2.2 million. This broad creditor support was a decisive factor in the bankruptcy declaration registered last July.
The Generalitat stands out among the major creditors, particularly due to a commitment connected to the school’s headquarters. A building on a municipal plot was financed by the district administration, but rent arrears had accumulated, impacting the facility on Deportistas Hermanos Torres street in Alicante. After a period of waiting, a March 10 decision finally allowed the plenary session to move forward. It was green-lighted to proceed with the plan, which would see Fundesem contribute 606,000 euros while enabling the recovery of an additional 741,000 euros into public coffers. The approval also permits signing a new lease for the property, ensuring Fundesem can continue to operate there and continue renting space to the European University.
Fundesem’s building remains a focal point of the negotiations and the broader recovery strategy. The case has drawn attention from other significant creditors, including Sabadell Bank, which holds a claim for roughly 151,000 euros. Also contributing is the Perán family firm behind Pikolinos, which supports the centre’s continuity and resilience through its participation in the restructuring talks.
European University’s role looms large in the plan. The institution has signaled a willingness to inject funds to support Fundesem’s viability. A proposed injection of 1.2 million euros is intended to address outstanding debts and create a platform for ongoing collaboration. The plan envisions the European University taking a more active role in governance and daily operations of the school, particularly in facilitating the delivery of health-related programs alongside engineering and business offerings. The arrangement would also include a practical framework for shared use of facilities and the joint development of master’s degrees and other professional programs aligned with regional business needs.
Overall, the viability strategy focuses on a substantial debt reduction, a major investor contribution, and a redefined lease and facility-use model. The outcome could help preserve Fundesem’s educational mission while enabling continued collaboration with the European University. With the support of public and private partners, the school aims to restore financial stability and resume its mission of delivering applied business education in the Costa Blanca region.
Note: The agreement reflects creditor alignment with a broader plan to stabilize the center, safeguard jobs, and sustain local education initiatives. The plan is being monitored by the bankruptcy administrator and the court as part of the formal process to reopen and operate with a viable financial structure. Attribution: (Source: Generalitat and European University governance records; creditor statements and regional economic reports.)