Why would anybody leave rent free accommodation?? Where has the € 5 million Gone?? Show me the Money USI!!! Financial Future of USI Secure After €5m Agreement with USIT Ireland 03/07/2002 By Emmet Oliver, Education Correspondent. The Union of Students in Ireland says its financial future has been secured after reaching agreement with the new owners of the travel company, USIT Ireland. Under the agreement, USI is to be paid €5 million over the next nine years by USIT Ireland, which is now owned by the venture capital company ION Equity. USI will also be paid a €381,000 lump sum as part of the deal. There was concern that the collapse of the USIT group of companies might also put USIs future in doubt. USIT Ireland at the time of the collapse owed USI several million euro in loan notes. Yesterday the USI president, Mr Colm Jordan, said the deal had rendered rumours of USIs demise both premature and inaccurate. Also as part of the deal, the organisation is to remain in its Grattan Street offices rent-free for the next nine years. Really 9 years rent free???
Posted on: Mon, 20 Oct 2014 07:27:58 +0000
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