Friday 23 May 2014 15.03 A college catering for international students, which closed unexpectedly last month, has outstanding debts estimated at €1.4m.
The figure was given at a creditors' meeting, which is taking place in Dublin this afternoon.
The debts include deposits owed to students worth €58,000.
Teachers are also owed wages and the Irish Aviation Authority is owed €300,000. The IAA is the landlord of the building in which Eden was housed.
The director of the company, Fakir Hossain, declined to answer any questions on his way into the meeting.
Teachers and students are attending the meeting.
Eden College on Dublin's Burgh Quay is one of five international colleges to close in recent weeks.
Eden College also owes the Revenue Commissioners €60,000.
Employees are owed a total of €158,000.
Dublin City Council is owed more than €120,000.
A lawyer representing students told the meeting the amount of money owed to students has been grossly underestimated.
He said the real figure was around €390,000 and not the €58,000 mentioned in the Statement of Affairs.
Angry students told Mr Hussein that all the college's money came from students in the first place.
One student said he had wasted three years studying at Eden only to have to return to his own country with no qualification at all now.
"What is the price of my time?" he asked.
He said he had paid his latest fees just three weeks before he heard the college had closed.
A representative for Dublin City Council has told the meeting it estimates it is owed €220,000 and not €122,000.
The Revenue Commissioners has also indicated it is owed more than the €60,000 contained in the Statement of Affairs though they have declined to name the figure they believe is owed.
Meanwhile, the task force aimed at assisting students affected by closure of the colleges has met for the first time.
In a statement this afternoon, the Department of Education and Skills said the task force's first priority is to establish the number of genuine students affected by the closure of five private colleges in recent weeks, how many students have been accommodated in other colleges in the sector and what more can be done to assist the international students.
The task force will meet again next Tuesday where it is expected that options for students who have not yet been accommodated through other placements will be discussed.
The task force is made up of stakeholders such as Marketing English in Ireland, the Irish Council for International Students, the Irish Naturalisation and Immigration Service, Higher Education Colleges Association, Quality and Qualifications Ireland and others.
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