Fundssem progress and the path to a potential reopening
Fundesem stands on the threshold of a major turning point after a sequence of strategic steps aimed at stabilizing its future. The organization is pursuing a court-approved settlement, with the Valencia Institute for Business Competitiveness (Ivace) backing the plan designed to resume operations and strengthen the school’s capacity. The latest actions reflect a coordinated effort to align a viability strategy with a concrete payment plan, signaling a decisive step toward reopening the business school under a healthier financial framework. [Citation: Ivace supports the court-approved settlement proposal for Fundesem, acknowledging the plan’s potential to restore operations.]
The settlement hinges on an agreement between Fundesem and a European partner, the European University, which has committed 1.5 million euros to creditors. In this arrangement, creditors would receive an immediate 55% of the outstanding debt, while the remaining 45% would be forgiven. With this support, the foundation would implement a feasibility plan and, aided by the university, reopen the school with a stronger, more sustainable structure and without placing an additional financial burden on the institution. [Citation: European University participates in the agreement to facilitate creditor settlement and institutional rebirth.]
The proposal has already garnered formal consideration from the Commercial Court No. 1 in Alicante, which assessed the arrangement at the end of November and determined that the bankruptcy process was a result of circumstances rather than irregularities, finding no signs of misconduct by the center’s management. This ruling paves the way for the next steps in the restructuring process. [Citation: Court review confirms absence of irregularity in leadership during the bankruptcy proceedings.]
Headquarters of Fundesem, the Alicante-based business school, has been a focal point of discussions surrounding the future of the institution and its governance. [Citation: Local reporting corroborates the central role of Fundesem’s Alicante campus in the restructuring dialogue.]
Now, the bankruptcy administrator has publicly endorsed both the feasibility plan and the proposed payment schedule. The two-part development approach envisions an initial five-year period of transformation, during which Universidad Europea would collaborate with the bankrupt organization to reorganize and professionalize its activities, making the school viable once again. A second five-year phase would follow, during which the European University would continue to provide support to sustain growth and ensure long-term profitability. [Citation: Administrator endorses a staged improvement plan.]
The feasibility plan outlines three main revenue streams. First, it accounts for current and prospective students enrolled in graduate and postgraduate programs. Second, it envisions programs designed to meet the educational needs of diverse regional economic and social actors. Third, it includes income from the existing agreement with the European University, which allocates 400,000 euros, with 200,000 tied to joint management of academic activities and facilities, and the remainder allocated for human resources and marketing campaigns. These contributions would augment the 1.5 million euro investment from the European University to satisfy creditor claims. [Citation: Financial structure combines student revenue, program expansion, and partner-supported costs.]
The initial creditor landscape and debt implications
The early creditor roster identifies Fundesem’s debt at approximately 2.7 million euros. The manager’s support for the payment plan suggests that creditors could recover 55% of the outstanding balance promptly, providing a clear pathway to near-term resolution. [Citation: Debt outline and proposed creditor recovery rate.]
The campaign to secure support hinges on Ivace’s pivotal role, given its central position in the debt composition. With Ivace holding a dominant share of the claims, the authority’s stance is likely to determine the final outcome. The court has set a two-month window for the involved parties to reach a decision, after which the status of the school—whether it will reopen—will become clearer. [Citation: Ivace’s influence and the court deadline shape the decision timeline.]
Economy officials are weighing the implications of debt write-offs and lease arrangements. The Ministry of Economy, under Ivace’s umbrella, plans to review all assessments related to Fundesem’s plan before deciding on official support. The minister, Rafa Climent, notes that the proposed 45% debt reduction requires council approval and cannot be decided unilaterally within the ministry. Considerations include whether Fundesem will rent out the building housing Ivace’s business school, a step that would require the lessor’s consent. [Citation: Government review and critical lease considerations influence the final stance.]