AGL 40.10 Decreased By ▼ -0.90 (-2.2%)
AIRLINK 127.80 Decreased By ▼ -0.34 (-0.27%)
BOP 6.60 Decreased By ▼ -0.10 (-1.49%)
CNERGY 4.60 Increased By ▲ 0.08 (1.77%)
DCL 8.58 Decreased By ▼ -0.03 (-0.35%)
DFML 41.40 Increased By ▲ 0.31 (0.75%)
DGKC 86.50 Decreased By ▼ -0.63 (-0.72%)
FCCL 32.13 Decreased By ▼ -1.26 (-3.77%)
FFBL 65.40 Decreased By ▼ -0.01 (-0.02%)
FFL 10.27 Decreased By ▼ -0.20 (-1.91%)
HUBC 110.60 Decreased By ▼ -0.03 (-0.03%)
HUMNL 14.70 Decreased By ▼ -0.60 (-3.92%)
KEL 5.15 Increased By ▲ 0.17 (3.41%)
KOSM 7.15 Decreased By ▼ -0.28 (-3.77%)
MLCF 41.69 Decreased By ▼ -1.30 (-3.02%)
NBP 60.20 Decreased By ▼ -0.22 (-0.36%)
OGDC 194.48 Decreased By ▼ -3.16 (-1.6%)
PAEL 27.95 Decreased By ▼ -1.06 (-3.65%)
PIBTL 7.98 Decreased By ▼ -0.28 (-3.39%)
PPL 150.52 Decreased By ▼ -3.64 (-2.36%)
PRL 27.08 Increased By ▲ 2.08 (8.32%)
PTC 16.08 Decreased By ▼ -0.01 (-0.06%)
SEARL 78.20 Decreased By ▼ -0.25 (-0.32%)
TELE 7.42 Increased By ▲ 0.05 (0.68%)
TOMCL 35.70 Decreased By ▼ -0.39 (-1.08%)
TPLP 7.90 Decreased By ▼ -0.17 (-2.11%)
TREET 15.87 Decreased By ▼ -0.09 (-0.56%)
TRG 52.70 Decreased By ▼ -0.66 (-1.24%)
UNITY 26.65 Decreased By ▼ -0.06 (-0.22%)
WTL 1.28 Increased By ▲ 0.01 (0.79%)
BR100 9,920 Decreased By -52.1 (-0.52%)
BR30 30,751 Decreased By -346.3 (-1.11%)
KSE100 93,225 Decreased By -423.8 (-0.45%)
KSE30 28,885 Decreased By -132.9 (-0.46%)

A Swiss court rejected Monday an urgent provisional management shakeup at amateur boxing's ruling body AIBA, ruling the push to oust embattled president Wu Ching-Kuo could wait for a proper hearing. "The Swiss court has announced today (Monday) its decision to reject the requests for urgent provisional measures," AIBA said in a statement. "The court has decided that the condition of extreme urgency was not fulfilled."
Wu's executive committee has passed a motion of no-confidence against his leadership and had asked Swiss courts to approve a temporary administration, accusing the Taiwanese president of financial mismanagement. AIBA's executive committee meeting in Moscow last month passed the no-confidence motion, claiming that the body was on the brink of bankruptcy. The organisation's headquarters in Lausanne, Switzerland were closed for a week following the no-confidence vote, before reopening on August 2. Executive committee member and Wu rival Pat Fiacco of Canada told AFP last week 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 has meanwhile charged his rivals with trying to pull off "a military coup", and insists the organisation is on sound financial footing. According to Monday's statement, the Lausanne court saw no reason to rush through emergency measures.
"A hearing is scheduled on 17 August 2017, at the occasion of which the parties and their legal counsels will be heard. A decision on provisional measures will then be rendered by the court," it said.

Comments

Comments are closed.