Ended in 1971 apparently, but presumably a court assembled to cast judgement both on the quality of the throwing and wearing pies, and to loudly denounce those abominable "pies" some pubs serve which are naught more than a casserole with a puff pastry lid, the perpetrators of which should be pilloried in public and pelted with the slop of their own creations!
Why can't saturation hall continue the tradition? Gather as many of the models from the past year as possible and have a court of Pie? Have it streamed live to a group of "jurors". You can buy a place on the jury for like 30 40 bucks or whatever and a place in the gallery for like 20 bucks.