Release
AYY
For release on 9 Apr 2015
The main hearing of the property dispute between Aalto University Student Union (AYY) and KY Foundation will begin in Helsinki Court of Appeal on Monday, 13 Apr 2015.
”It is unfortunate that we have to continue to resolve the matter in the courtroom, but as the District Court stated, there were ambiguities relating to the donations. The Finnish legal system has not resolved similar cases in the past, so it is justified to pursue the matter,” comments President of AYY Board Niko Ferm.
The property dispute between AYY and KY Foundation began in 2010, when the Student Unions of the Helsinki School of Economics, Helsinki University of Technology and the University of Art and Design Helsinki merged into Aalto University Student Union. In connection with the merger, it became clear that the Student Union of the Helsinki School of Economics had transferred over 42 million euro of its property out of reach of the new student union to KY Foundation, which had been established through an intermediary.
Helsinki District Court issued a decision on the property dispute between AYY and KY Foundation on 28 Apr 2014. According to the District Court, AYY was in such a position that it had the right to request the donations to be nullified. The District Court also approved AYY’s views on the fact that the decisions of the Administrative Court were not relevant in this case. The decision also showed that KY had established KY Foundation by using an intermediary and the donations were shrouded in secrecy. The District Court did not, however, share AYY’s view that evidence on ambiguities regarding the donations is sufficient to nullify the donations.
Further information:
- President of AYY Board Niko Ferm, niko.ferm@ayy.fi, 050 520 9420
- Secretary General Janne Koskenniemi, janne.koskenniemi@ayy.fi, 050 520 9415
- ayy.fi/omaisuuskiista