Former owner of luxury car dealership in Cannes must pay over a million euros
On June 9, 2026, the commercial tribunal of Cannes found the former director of the company Flat Sport Chrono guilty of serious management violations, obliging him to pay part of the company’s debt in the amount of 234,000 euros.
Judicial decision
On June 9, 2026, the commercial tribunal of Cannes ruled that the former director of Flat Sport Chrono, Eduard Tear, is personally responsible for reimbursing part of the company’s debts, which specialised in selling premium cars. The company’s total liabilities exceed 1 million euros.
Three management violations
The court identified three key management mistakes:
- Continuation of unprofitable activities despite obvious insolvency
- Lack of full accountability - financial statements were not provided
- Unjustified financial transactions: in 2024-2025, the director received 110,000 euros, including 25,000 euros in January 2024 with a negative balance of the company.
Reaction of the parties
“The director embezzled significant amounts, depriving the company of funds to settle with creditors,” said the creditor’s lawyer, Jean-Philippe Maslen. The defence claimed that the crisis was caused by employee theft, but the court rejected this argument.
Next steps
The final amount of compensation will be determined after reviewing all creditor claims. For now, only a minimum reimbursement of 234,000 euros has been appointed. Numerous clients and partners are still awaiting the return of their funds.
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