This week the bankruptcy administrator began circulating documents that outline the financial situation surrounding Fundesem. The case centers on the foundation’s debts to creditors, including the Valencia Institute of Business Competitiveness Ivace and the broader obligations tied to unpaid government charges. Fundesem was established to support the operation of the center in recent years and to coordinate its activities with public and private partners.
The initial balance sheet presents a total debt figure of 2,730,000 euros. A substantial portion of this amount mirrors the foundation’s obligation to Ivace, the state body overseeing sustainable economic initiatives. Ivace is located on Calle Deportistas Hermanos Torres in Alicante, and the figure shows 1,633,000 euros owed to the education administrator. The autonomous structure, under the Ministry of Sustainable Economy, is expected to play a crucial role in approving the plan of action prepared by Fundesem.
The next largest creditor is Fundesem Business School SL, a company created by Fundesem to facilitate the commercialization of its graduate and postgraduate programs. This entity is owed more than 320,000 euros. The remaining balance is spread across a number of smaller creditors, including students, faculty, suppliers, and various partner companies that have training agreements with the center. In total, about 2.3 million euros are categorized as ordinary debts, while 331,272 euros attributed to the SL subsidiary are considered subordinate, and 63,000 euros, involving employment loans and Social Security obligations, are treated as privileged debts.
In official statements, the leadership at Fundesem has indicated a willingness to pursue a vitality plan that would partner with the European University. The plan contemplates contributing 1,250,000 euros in cash to pay down a large portion of the debt, along with an annual 400,000 euro canon in exchange for access to the facilities of the business school. The board of trustees has approved this plan, which requires negotiation with Ivace, the building owner, and Alicante City Council, which owns the land on which the property sits. This proposed arrangement hinges on obtaining concessions from both public authorities and the private partner involved in the project. The financial reality remains that the foundation faces limited liquidity beyond the proposed cash contribution and lease-like terms, and current asset valuations have placed assets at a modest level, with initial estimates barely surpassing 59,000 euros.
The situation has prompted a formal review of the foundation’s assets and liabilities. Fundesem has requested a formal assessment from the bankruptcy administrator to clarify which assets can be recovered and how they can be used to satisfy creditors. The emphasis remains on identifying available resources and negotiating terms that could lead to a sustainable resolution for the foundation, the partner university, and the municipal authorities involved. Primary attention is being paid to how the proposed plan would influence ongoing training programs and the center’s ability to honor existing commitments to students and staff. A careful balance is being sought between satisfying creditors and preserving the educational mission of Fundesem as the process unfolds. In parallel, the European University has signaled its interest in advancing an agreement that would support the center while addressing a substantial portion of the debt burden. The final outcome will depend on negotiations among Fundesem, Ivace, and local government authorities, as well as the European University’s capacity to deliver the financial terms required by all parties. The process continues to unfold with ongoing scrutiny from the courts and the stakeholders involved. The focus remains on achieving a workable resolution that can ensure the center’s future viability while meeting legitimate creditor claims and safeguarding the educational landscape in the region.
In the accounting records presented by the bankruptcy administrator, the case includes a creditor list with a total debt valued at 659,000 euros for Fundesem Business School SL. This amount largely reflects obligations owed to teachers, students, and partner companies with training contracts during the final phase of the center’s operations. The asset inventory amounts to about 341,000 euros, but much of that value consists of obligations to be collected by the foundation, meaning the tangible value may not be as high as it appears. Following requests from Fundesem officials, the presiding judge has moved to liquidate Fundesem Business School SL, redirecting attention toward recovering resources for the foundation itself. The case underscores the challenges of separating the foundation’s obligations from those of its affiliated entities and highlights the importance of orderly asset realization and creditor protection as the process progresses. The overarching objective remains to secure a viable path forward for Fundesem while ensuring fair treatment of all parties involved, including employees, students, and partner institutions. The court’s actions indicate a focus on stabilizing the foundation’s position and pursuing arrangements that could support a restart or restructuring under creditor supervision, should that option prove feasible in the coming months. Attribution: court records and official filings related to the Fundesem proceedings.