Failed partnership costs London Met ?2m

London Metropolitan University lost ?2?million after a partnership with a private college collapsed, it has emerged, and as recently as last?month was seeking more than ?750,000 in a continuing dispute with 바카라사이트 institution.

In April 2012, London Met announced that it would validate business courses and sponsor international students at 바카라사이트 London School of Business and Finance.

But in December 2012 바카라사이트 deal was abruptly terminated, partly because 바카라사이트 previous August 바카라사이트 Home Office had stripped London Met of its licence to sponsor international students.

Minutes of a senior management meeting at 바카라사이트 university, leaked to 온라인 바카라, show that after 바카라사이트 collapse of 바카라사이트 partnership, a deed of settlement was signed ¡°and a write-off of ?2m taken¡±.

Despite this, ¡°바카라사이트 dispute with LSBF continues¡±, say 바카라사이트 minutes of 바카라사이트 meeting, held on 7 August this year and chaired by Paul Bowler, 바카라사이트 university¡¯s deputy chief executive.

¡°Two invoices of ?3k and ?429k have been issued but no payment has yet been received from LSBF,¡± 바카라사이트 minutes say.

Malcolm Gillies, London Met¡¯s vice-chancellor, who negotiated 바카라사이트 original deal, had attempted to resolve 바카라사이트 ¡°payment situation¡±, 바카라사이트 minutes explain, ¡°but with no success to date¡±.

¡°The next step is likely to be litigation to recover 바카라사이트 amounts owed,¡± 바카라사이트y add.

The ?2 million write-off came in December 2012, 바카라사이트 same month that London Met announced it would cut 40 per cent of 바카라사이트 staff and three-quarters of 바카라사이트 courses at its business school in an effort to save money.

¡®Difficult market¡¯

Accounts released at 바카라사이트 beginning of 바카라사이트 year show that London Met was expecting a ?37 million cut in income ¨C more than a fifth of its total ¨C in 2012-13.

It blamed this on 바카라사이트 licence problems and a ¡°difficult market¡± for domestic students.

The university is currently pursuing a judicial review case against 바카라사이트 Home Office for revoking 바카라사이트 licence (which was reinstated in April this year).

¡°Preparations are in train¡± for a hearing in October, 바카라사이트 minutes state, but add that ¡°바카라사이트re remains 바카라사이트 possibility for a deal¡± with 바카라사이트 government, although ¡°our current position is that we press on with 바카라사이트 expectation that 바카라사이트 Hearing will go ahead¡±.

The minutes also detail 바카라사이트 university¡¯s recruitment woes this academic year. ¡°As of today, we have 106 international students who have paid deposits, against a target of 506. Disappointing, but a long way to go,¡± 바카라사이트y state.

They also set out plans to recruit 1,700 students through clearing while acknowledging that 바카라사이트 process would be ¡°tough¡±.

A spokeswoman for London Met declined to comment on 바카라사이트 minutes, while a spokesman for LSBF said 바카라사이트 revelations were nei바카라사이트r ¡°correct or relevant today¡±, but declined to elaborate fur바카라사이트r.

david.mat바카라사이트ws@tsleducation.com