The dispute over Ferretti’s governance has evolved from a shareholder confrontation into a full-scale legal battle. Azur a.s. has filed a lawsuit before the Court of Bologna pursuant to Articles 2377 and 2378 of the Italian Civil Code, requesting the declaration of nullity and/or annulment of the shareholders’ resolutions concerning the appointment of the new Board of Directors, the number of its members and the appointment of the Board of Statutory Auditors. At the same time, Azur has initiated precautionary proceedings seeking the immediate suspension of the effectiveness of those same resolutions.
The move comes shortly after the appeal filed by KKCG Maritime, which in recent days challenged the validity of the votes cast by Ferretti International Holding (FIH), arguing that the voting rights linked to Weichai should have been suspended under Italy’s Golden Power regulations. The confrontation between the group’s two main shareholder blocs has therefore progressively shifted from the financial and shareholders’ meeting arena to the strictly legal one, with both parties now challenging the same resolutions — albeit from opposite perspectives.
This is a scenario that risks increasing uncertainty around Ferretti at an already delicate moment for the international yachting industry. Geopolitical tensions, market volatility and growing caution among yacht owners and investors are already putting pressure on the sector. In the large yacht segment in particular, the perceived solidity of the builder often carries as much weight as the product itself: high-value custom and semi-custom projects are built on trust and continuity, and a prolonged corporate dispute can directly affect that trust.
Not surprisingly, the statement released today by Ferretti strongly emphasizes operational stability. The company stressed that its corporate bodies are “fully operational” and that production activities, customer relations, commercial initiatives and strategic projects are continuing regularly. The legal action brought by Azur, according to the statement released from Forlì just minutes ago, “has no impact whatsoever on the group’s operations,” with management remaining fully focused on implementing the industrial plan and creating long-term value for all shareholders.
The message is clear: whatever happens in the courtroom, Ferretti intends to continue building yachts — and governing itself. Whether this commitment will be enough to reassure the market will become clear over the coming months. The company confirmed that it will continue informing investors about developments in the matter in compliance with applicable regulations.