In October 2016, the Fédération des Industries Nautiques (FIN) terminated the contract which, since 1998, had entrusted the Reed company with the organization of the Paris and Cannes boat shows. The FIN had brought, from this termination, an action before the Tribunal de Grande Instance (TGI) of Paris, in order to obtain the cancellation of a clause of this contract which provided that, in the event of termination, Reed would exploit the Cannes Yachting Festival until 2041.
Reed remains the organizer of the FIN show
While on January 8, 2019, the Paris TGI had ruled that the disputed clause of the contract was null and void, the magistrates of the Paris Court of Appeal reversed this judgment, leaving Reed the possibility of organizing the show until 2041.
At the same time, the Court, like the magistrates of first instance, rejected the counterclaim of REED which wished to be granted ownership of the Yachting Festival. This decision therefore definitively recognizes the full ownership of the Yachting Festival by the FIN.
For the coming weeks, the priority of the FIN is to do everything possible to ensure the smooth running of the next edition of the Cannes Yachting Festival.
“We take note of this decision which is, it is true, a real disappointment. But first we need to think about the future of Yachting Festival, the largest afloat boat show in Europe, and its exhibitors. It is a major international event eagerly awaited by all companies in our sector, especially after a year marred by the health crisis. Therefore, we hope to find with the organizer the best possible collaboration, to continue to develop our show, both for next September edition and for the future ”, said FIN.
The Cannes Yachting Festival will be held from September 7 to 12, 2021 in the Old Port of Cannes and Port Canto.
Photo Credit : A.Picot / NauticNews
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