In January 2025 Fundashon Marshe found itself without a board of supervision and without a director, following the departure of both. The resulting gap in management was filled on an interim basis by Ing. Remy J.D. Ricardo, who took office on 21 January 2025 alongside a single sitting board member, with further appointments still to follow.

"The first task was not to plan, but to see clearly," says Ricardo. "We spent those first weeks mapping exactly where the foundation stood — the obligations, the arrears, the systems, the people. Only then could we say honestly what was possible."

That assessment was documented and formally communicated to the board and to the Ministry of Economic Development (MEO), together with a vision for the following three years covering both the short-term operational recovery and the longer-term strategic development of the foundation.

Digitalization and the rebuilding of the accounts

The recovery route began with two priorities: digitalizing the organization and putting the accounting on a defensible footing. This was not a routine exercise. Data had to be migrated and reconciled across separate systems — a legacy environment dating back to 2021 and the new platform adopted in 2025 — while the day-to-day operation continued without interruption.

The task became considerably heavier in April 2025, when a fire at the temporary office housing Fundashon Marshe destroyed a substantial part of the financial administration.

"Losing a large section of the administration to fire, in the middle of a reconstruction, is the kind of setback that ends projects," Ricardo notes. "It did not end this one. The team simply started again, with what was left and what could be recovered."

Working with a small team, the interim management produced the outstanding annual reports for 2022, 2023 and 2024 within a single year. After intensive review, the foundation's accountants approved all three. The findings recorded in those reports relate to periods preceding the current interim management.

In the second year of the mandate, the 2025 annual report was completed and received an approving ("GOOD") opinion from the accountant — four annual reports delivered in a period of eighteen months.

In parallel, all outstanding human-resources matters were addressed. Every member of staff now holds a new, properly executed employment contract.

"Resolving the HR file brought calm to the organization," says Ricardo. "You cannot ask a team to rebuild a foundation while their own position is uncertain. Once that was settled, the focus returned to the work."

Fundashon Marshe manages Plasa Bieu, Barquitos, Plasa di Arte, Marshe di Otrobanda (including Plaza Snack), Awasa and Marshe Rondo. Each location was analyzed and, in accordance with the management agreement with MEO, complete project dossiers were prepared and submitted:

• Plasa di Arte — an upgrade for the vendors, including sanitary facilities, a security post and lockers.
• Plasa Bieu — a full dossier covering the major maintenance requirements of the location.
• Marshe di Otrobanda — a dossier aimed at protecting the foundation's cultural property and legacy in Otrobanda, a project that must be started in time and with adequate funding if it is to succeed.

As touristic and cultural locations within Willemstad, these sites are also coordinated with the Curaçao Tourist Board. The dossiers are now with the Minister for funding and execution. Owing to the significant financial strain experienced in 2026, execution of the projects is currently on hold.

Fundashon Marshe is preparing the launch of its new branding, which will be accompanied by a number of announcements for vendors, tenants and visitors alike. In the relationship between the foundation and its tenants, a dedicated business portal will be introduced, with SENTOO as the principal payment method, strengthening the controllability of the foundation's finances and making it considerably easier to do business with Fundashon Marshe.

The opening of Marshe Rondo, the location that accounts for the largest share of the foundation's customers, is therefore both a beginning and a milestone.

"Marshe Rondo opens on a foundation that is now solid," Ricardo concludes. "No stone was left unturned and no effort was spared. What our vendors and our public will see is a market. What stands behind it is eighteen months of very deliberate repair work."