Tenth attempt to obtain written information on the 2024 accounts, the 2025 budget, and the 2026 forecast.

Despite numerous unanswered requests, we are now compelled to publish the most recent letter sent to the President of ASLIC, who has remained silent for several weeks.

Today, we all received an electronic invitation to the General Assembly, accompanied only by a list of agenda items, without any explanatory documents:

• No 2024/2025 accounts

• No forecast budget

• No explanatory notes or clear draft resolutions

 This total lack of transparency goes against good governance practices and deprives co-owners of essential information required to make informed decisions.

We remind everyone that providing preparatory documents for the General Assembly is a legal obligation and that any vote taken without these documents may be legally challenged.

 We will keep you informed of any developments following this action.

Copy of the letter sent

From Grégory BENTZ and Etienne VANGEEBERGEN

To the attention of Mr. Daniel BLOT, President of ASLIC

CC: Delegates of the Syndicate

Subject: Request for Financial Documentation and Compliance with Statutory Obligations

Dear Mr. President,

You have convened a Syndicate meeting on May 30 to decide on the revised 2025 budget for the “Entertainment” item, as well as the forecast budget for 2026.

This meeting follows the one held on May 12, 2025, during which you, along with the ASLIC accountant, presented the 2024 accounts, the updated 2025 budget, and the 2026 forecast.

We remind you that the May 12 meeting was not supported by any written documentation concerning ASLIC’s financial situation. The delegates had to rely solely on an oral presentation of the accounts, which does not ensure proper information nor the quality of the Syndicate’s work. You had committed to promptly sending these documents, but needless to say, nothing has been sent to the delegates to date.

We also remind you that under Article VI-8 of ASLIC’s statutes, it is the Syndicate’s responsibility to establish the annual and forecast budgets of ASLIC.

It is also the Syndicate’s sole responsibility to verify the accounts.

In practice, you have taken charge—on your own—of establishing the 2025 and 2026 budgets and have not allowed the Syndicate to carry out its duty of verifying the 2024 accounts.

These serious breaches of statutory rules are alone grounds to reject the 2024 accounts and invalidate the revised 2025 and forecast 2026 budgets.

Moreover, during the May 12, 2025 meeting, the following issues were reported:

• A significant overrun of certain budget items:

  • "Entertainment" increased from €40,000 to €79,000

  • Reception and travel expenses from €7,000 to €12,000

  • Legal fees from €35,000 to €54,688
    These overruns reflect a clear lack of budgetary control and an unsustainable increase in expenditures.

• Financial inconsistencies in the allocation of certain expenses.
  You seemed unable to clearly determine whether the salaries of entertainers were borne by ASLIC or by Coudalère Animations. These sums (€14,000) relating to the fiscal year ending December 31, 2024, should not be subject to such ambiguity.

• A loss of €8,000 on a deposit paid to a failing company for the purchase of a pergola.
  This financial loss, following a previous €21,000 insurance scam, illustrates a lack of professionalism by ASLIC management, which failed to verify the contractor’s solvency or file a claim with the company’s liquidator.

• An estimated €5,000 water loss from the pool.
  This again reflects poor technical management. Such a loss is inexcusable, especially in today’s water conservation context.

• A worrying increase in unpaid charges (€139,000 as of December 31, 2024, a 7% rise compared to 2023).
  ASLIC has not provided any effective solutions to address this issue.

• A suspected overbilling of photocopier rental services estimated at €27,000, with no clear explanation or corrective action from the provider.

These failures to comply with statutory rules, the mismanagement of ASLIC's finances, and the lack of transparency in reporting call for firm corrective action, in the interest of ASLIC and its members.

Therefore, we are formally requesting the following measures:

• A financial audit of the 2024 accounts

• A review of the updated and forecast budgets to identify responsibility for the budget overruns

• The immediate implementation of financial controls to secure ASLIC’s income and expenditure processes

• The creation of an operational unit to address unpaid charges (staff training, partnerships with a judicial officer, more aggressive procedures, and the possibility of monthly charge payments)

• A review of signature delegation procedures to secure future procurement and prevent further financial losses

• The immediate and full disclosure of all financial and accounting documents to all Syndicate delegates for verification

• A freeze on the revised 2025 budget pending a deeper audit of ASLIC’s accounts

• A reassessment of the 2026 budget based on the initial 2025 budget, pending the results of a full audit

Mr. President, you can no longer shirk your responsibilities as ASLIC’s president and financial officer. We now demand full transparency regarding ASLIC’s financial situation and effective action to curb the rise in costs that burden Cap Coudalère’s co-owners.

Let us remind you that ASLIC members have the right to be informed, and you have the duty to be accountable for your management.

For all these reasons, this letter is being made public.

Sincerely,

Grégory BENTZ and Etienne VANGEEBERGEN

Barcarès, May 19, 2025