In October 2016, Fédération des Industries Nautiques (FIN - the French Marine Leisure Industry Federation) terminated the contract under which REED had been entrusted with organising the Paris and Cannes boat shows since 1998. Immediately afterwards, FIN brought an action before the Tribunal de Grande Instance de Paris, since one of the contract's clauses provided that, in the event of cancellation, REED would continue to run the Cannes Yachting Festival until 2041.

On 8 January 2019, the court granted FIN's applications. In particular, it ruled that the disputed clause was null and void and that the contract had been cancelled with effect from 20 December 2016. Further, the Tribunal de Grande Instance rejected REED's request to be recognised as the owner of the Cannes Yachting Festival.

REED appealed against this decision. The associated appeal hearing took place on 21 January 2021 in the presence of Yves Lyon-Caen, FIN's president, and Fabien Métayer, FIN's executive director; whereby the date on which the court will hand down its decision was set as 15 April 2021.

"This decision, which is expected in mid-April, is of crucial importance to the boating industry. Whatever happens now for the French Marine Leisure Industry Federation, our primary objective will be to ensure that the next edition of the show is a success. We count on the professionalism of all stakeholders involved to act in the best interests of exhibitors and the City of Cannes, as soon as the decision is announced," said Yves Lyon-Caen.

Source FIN