Before the merger of the Student Unions of the Helsinki School of Economics, Helsinki University of Technology (TKY) and the Student Union of the University of Art and Design Helsinki into Aalto University Student Union on 1 Jan 2010, the Student Union of the Helsinki School of Economics (KY) transferred approximately 42 million euro from its property to the foundation which it had established outside the student union. This property consisted of investments made with the membership fees earned over the decades and income from donations.
Two members of KY, both former TKY activists, appealed against the establishment of the foundation and the process by which it was carried out. The appeals were processed in the Administrative Court and some of them were also processed in the Supreme Administrative Court. KHO and HaO have rejected these appeals so far.
After the establishment of AYY on 1 Jan 2010, the Student Union began to investigate what happened to the property and finally decided to appeal to the Supreme Administrative Court against the decision rejecting the appeal. KHO made its decision without proper information on the value of the foundation property and the progress of the foundation process. This dissolution request is still being processed. Similarly, AYY requested the National Board of Patents and Registration to clarify whether the foundation was established in accordance with the Finnish law. Also, it is not yet clarified whether the donations were made in accordance with the civil law.
The description presented on this website concerning the operations of the Student Union of the School of Economics is entirely based on the Student Union’s own notes and financial information and it does not include speculation.
The website of the Association of Economics Students in Finland about the topic can be found here (in Finnish).