International Boxing Association (Aiba) president Ching-Kuo Wu is set to remain in power for the immediate future after the Swiss Court of Lausanne dismissed attempts from a rival organisation to seize control of the sport’s world governing body.
The so-called Interim Management Committee (IMC), which was established in July following a vote of no confidence in Wu (pictured), has been seeking to remove the Taiwanese official from power amid allegations of financial mismanagement under his administration.
However, the Lausanne court yesterday (Monday) rejected all of the IMC’s claims in full, upholding the position of Wu and executive director William Louis-Marie, who the IMC has also been seeking to oust.
Wu said: “Aiba has remained unified and confident that the Swiss Court would recognise the core values of integrity and transparency that the Association hold most important and that we stand for. We have always been single-minded in our determination to continue working alongside and representing our 202 national federations and the best interests of our sport, carrying out our long-term strategic vision for its ongoing growth and success with a united family.
“This we are now able to do without the unwelcome interference of the so-called IMC, whose legitimacy Aiba never recognised and has now formally been deemed illegal by the Swiss Court decision rendered today.”
Aiba has previously been forced to maintain that its finances are in order amid reports in the Guardian and New York Times that it was facing severe financial difficulties owing to payments claimed by two commercial entities. The UK and US newspapers both made the claims that relate to Azeri company Benkons and Chinese firm First Contract International Trade (FCIT).
Aiba is expected to hold an extraordinary general assembly next month to assess the current situation.