On 22 Jan 2011, Aalto University Student Union (AYY) requested the National Board of Patents and Registration of Finland (PRH) to investigate whether the Foundation of Economics Students in Helsinki (KY Foundation) was established pursuant to law and good practice. In the decision issued on 21 Oct, PRH considered that the establishment was carried out pursuant to law and did not comment on issues that concerned AYY in the establishment process. KY Foundation was founded in 2008 on behalf of the Student Union of the School of Economics by the Senior Guild of the Student Union of School of Economics.

Before the merger of three student unions into AYY, the Student Union of the School of Economics transferred a large part of its property, more than 40 million euro, to KY Foundation. AYY continues to solve problems that were caused by this property donation. The Supreme Administrative Court is still considering AYY’s request to re-evaluate the decision concerning KY’s actual property donation, which was submitted at the end of 2010.

“The establishment of the foundation was legal but caused distrust among the Aalto community. A functioning community can only be formed when this distrust is corrected. The Student Union is now aiming at this goal”, states Chair of the AYY Board Saara Hyrkkö.

Further information:

Saara Hyrkkö, saara.hyrkko@ayy.fi, 040 719 7604
Chair of the Board
Aalto University Student Union