A Swiss court rejected today 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.
"This decision maintains the status quo and AIBA will therefore keep functioning in full accordance with its statutes," it added, stressing that this meant Wu and his management team would remain in place.
According to a spokeswoman for the Lausanne court, Liliane Beuggert, a ruling in the case is not expected until September.
In the meantime, AIBA said it was focusing on organising the next World Boxing Championships in Hamburg from August 25 to September 2.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)