LAUSANNE: The offices of amateur boxing’s ruling body AIBA reopened Wednesday (Thursday in Manila) after a week-long closure with embattled president Wu Ching-Kuo on site despite a push for his ouster by rival executives.
Wu’s executive committee has passed a motion of no-confidence against his leadership and have asked Swiss courts to approve a temporary administration, accusing the Taiwanese president of financial mismanagement.
A notice posted on the door of the organization’s headquarters in Lausanne, Switzerland last week announced that the office had been closed following the no-confidence vote.
“The staff and the president are back at work, especially to prepare for the World Championships in Hamburg”, Wu told AFP, referring to the competition set to take place in the German city from August 25 to September 2.
Wu has previously charged his rivals with trying to pull off “a military coup”.
AIBA’s executive committee meeting in Moscow last week passed the no confidence motion, claiming that the body was on the brink of bankruptcy.
Executive committee member and Wu rival Pat Fiacco of Canada told AFP on Tuesday that AIBA had racked up debts worth 15 million Swiss francs ($15 million, 13.1 million euros).
Fiacco said they wanted Swiss justice to take “provisional measures” until October or November when an AIBA board meeting will vote on the no-confidence motion.
Wu told AFP he had nothing to fear from the courts.
“We respect the Swiss justice system and we are waiting with confidence for the decision, because there is only one truth,” he said.
He claims the organization is on sound financial footing, with “over 10 million dollars” in the bank and no debt.
But Fiacco replied that Wu was taking into account future revenue from the International Olympic Committee and from host cities of upcoming world championships.