During the bankruptcy administration process, a new extension deadline was chosen to preserve the commitment to the creditors’ agreement. The situation centers on Alicante’s business ecosystem, where the Generalitat has shown patience while the process advances. Ivace, despite being a creditor, has already agreed to participate in the plan for payments and the operational adjustments proposed by the center’s managers. The extension still requires clearance from the autonomous department and the tax offices, and the proposal will be submitted for a plenary vote.
In principle, the continuation appears straightforward, yet the proposal could not be added to the agenda at the Valencia Executive Committee’s last meeting. Consequently, it cannot be approved before the court-imposed deadline expires on March 1. After the first extension, Ivace had already allowed a vote to proceed.
The body convened on February 8, and the proposal was unanimously accepted. The discussion involved Fundesem’s leadership and the plan to settle 55% of the debt, amounting to a 1.5 million euro contribution that would be provided by a European university partner, along with a concession on the remaining balance.
Fundesem’s headquarters are located in Alicante, a detail underscoring the local significance of the plan. The proposal requires the Generalitat’s adhesion, given Ivace’s role as the primary creditor with roughly 1.6% of the total 2.7 million euros in liabilities. The debt stems from the nonpayment of rent for the Fundesem premises on Deportistas Hermanos Torres street in Alicante, a site built on municipally owned land to house the Generalitat’s business school.
The foundation’s feasibility plan envisions an alliance with Universidad Europea, potentially using the facilities to offer up to four degrees in the socio-sanitary field. If realized, this arrangement would anchor the campus in Alicante and hand day-to-day management of the private central business school to the private operator, with an estimated annual income of around 400,000 euros.
While there was initial skepticism from the ministry about transferring public property to a private university center — a concern that surfaced when Fundesem first refused to pursue the competition last July — the balance shifted as the institution advocating savings gained weight. The overarching aim is to ensure the school’s continuity and prevent the asset from being lost to inactivity, while aligning the project with regional priorities and public accountability.
In this framework, the proposed recovery plan emphasizes financial discipline, clear governance, and the strategic use of assets to sustain higher education in the region. Stakeholders are watching closely to see whether the plan can secure the required approvals, maintain staff and student interests, and deliver a stable path forward for Fundesem’s mission. The outcome will likely influence similar collaborations between public authorities and private educational operators in the area, shaping how local institutions respond to financial stress while preserving public access to high-quality training.