The Fundesem agreement proposal marks a pivotal moment for the Alicante business school as creditors show strong support for a restructuring plan. With participation from more than 85% of creditors, the plan meets the threshold needed to advance. The bankruptcy administrator has submitted the results to the court with a view to approving a roadmap that aims to reopen the school and restore its viability after its financial difficulties last year.
The proposed payment plan puts forward a substantial concession: a 45% discount on the outstanding debt, with the remaining 55% to be settled through contributions by European University. This approach drew the backing of 133 creditors, representing 85.33% of the 2.2 million euros in ordinary debt owed by the center, which had led to its bankruptcy declaration in July. The level of creditor confidence helps pave the way for a structured path back to activity and financial stability.
The Generalitat is the standout creditor in the group. It became particularly prominent due to a long-standing rent dispute connected to a building the school has occupied. The municipal plot on Deportistas Hermanos Torres street in Alicante, and the related rental arrears, have been central to the negotiations as public authorities seek to recover the value of the space used by Fundesem.
Following a period of deliberation, March 10 brought a decisive moment when the Consell agreed to consider the plan in a plenary session. The decision would enable Fundesem to donate 606,000 euros while also allowing the possibility of recovering 741,000 euros for public coffers. The ruling would also authorize signing a new lease agreement that would permit the school to continue operating on the current site, with a portion of the property to be leased to the European University for collaborative use.
Fundesem’s viability plan emphasizes a clear split of responsibilities: the 45% debt write-down, the remaining 55% covered by European University contributions, and the use of the premises under new terms. The European University has proposed a contribution of 1.5 million euros and will also assume a share of the annual rent in exchange for shared use of facilities. This arrangement is designed to support the centre’s operation while enabling joint programs in health-related education and other fields relevant to regional industry needs. In return for participating in the agreement, the European University would gain daily oversight of the school to coordinate the delivery of master’s programs in economics and other professional training demanded by local companies, with the aim of boosting regional workforce development.
Other notable creditors have joined the offer, including Sabadell Bank and several companies that are pursuing compensation in the vicinity of 151,000 euros. The involvement of these entities, along with prominent local business figures such as the Perán family, which owns Pikolinos, underscores a collective interest in sustaining the center’s educational mission and ensuring an orderly transition rather than a disorderly wind-down. The consensus among creditors signals a shared belief that Fundesem can return to operation under new governance and funding arrangements that align with public and private sector needs in the region.
In parallel with the restructuring, the plan contemplates ongoing cooperation with the European University on the delivery of degree programs in health and related disciplines. The collaboration would include hosting master’s programs, internships, and applied research opportunities that benefit students, employers, and the broader regional economy. The proposed arrangements aim to maintain uninterrupted educational services while restoring financial health and credibility for the institution in two key markets: Canada and the United States, where similar programs attract interest from international students and professional audiences seeking high-quality business education in Europe and beyond.
Overall, the strategy focuses on reconciling debt, preserving the school’s campus and workforce, and maintaining continuity of education through strategic partnerships. The outcome depends on court approval and the successful execution of lease and funding terms that will secure Fundesem’s future as a viable educational hub in Alicante and a bridge to international cooperation with European partners.
Fundesem’s situation illustrates how creditor cooperation, public-sector involvement, and cross-institutional collaboration can converge to rescue a regional business school. The plan seeks to balance debt relief with responsible governance and sustained investment in academic programs that meet the needs of local and regional employers while offering potential opportunities for students in North America to engage with European education networks. The overall objective remains clear: to reopen the school, stabilize its finances, and expand its educational reach with the support of strategic partners and committed creditors.
Fundesem building and campus facilities continue to symbolize the core asset around which the negotiations revolve, with the potential for renewed leases and cooperative use arrangements that align public and private interests. The ongoing discussions reflect a broader commitment to preserving higher education access, supporting regional economic development, and fostering transatlantic educational exchanges that benefit students and workers across Canada, the United States, and Europe.
Note: The information above reflects ongoing legal and financial proceedings and is intended for informational purposes only. All decisions remain subject to court rulings and formal agreements between Fundesem, its creditors, and collaborating institutions.