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In early 1998, Roy Jones, Jr. announced that he was relinquishing his WBC light heavyweight title. In response, the WBC ordered a bout between Graciano Rocchigiani from Germany and the former champion Michael Nunn to fill the vacancy, sanctioning it as a world championship match. On March 21, 1998, Rocchigiani won the fight and a WBC belt; in the subsequent WBC rankings, he was listed as "Light-Heavyweight World Champion."
Jones, however, had a change of heart and asked if the WBC would reinstate him as the champion. In a move that violated nearly a dozen of its own regulations, the WBC granted the reinstatement.[citation needed] Rocchigiani received a letter from the WBC advising that the publication of his name as champion was a typographical error, and he had never been the official titleholder.[citation needed]
Rocchigiani immediately filed a lawsuit against the WBC in a U.S. federal court, claiming that the organization's actions were both contrary to their own rules and injurious to his earning potential (due to diminished professional stature). On May 7, 2003, the judge ruled in Rocchigiani's favor, awarding him $30 million (U.S.) in damages and reinstating him as a former WBC champion (Rocchigiani had lost a bout since his WBC title match).
The following day, the WBC sought protection by filing for Chapter 11 bankruptcy (i.e., corporate debt restructuring) in Puerto Rico. The organization spent the next 13 months trying to negotiate a six-figure settlement with Rocchigiani, but the fighter at first rejected the proposal.
On June 11, 2004, the WBC announced it would enter Chapter 7 bankruptcy liquidation (i.e., business closing and total asset sell-off) proceedings, effectively ending its existence. This action prompted some in the boxing community to plead with Rocchigiani to settle the dispute, which he did in mid-July 2004. The WBC continues.
Now... not the same situation, but they did have a written commitment and a verbal from Sulaiman, who told them they'd get the fight.
If they do go through with suing them... what scenarios do you see playing out?
I think Cuello has this going for him:
organization's actions were both contrary to their own rules and injurious to his earning potential (due to diminished professional stature)
This is nothing really new here, but if they have a written commitment with them that doesn't really bode well with the WBC does it?
In early 1998, Roy Jones, Jr. announced that he was relinquishing his WBC light heavyweight title. In response, the WBC ordered a bout between Graciano Rocchigiani from Germany and the former champion Michael Nunn to fill the vacancy, sanctioning it as a world championship match. On March 21, 1998, Rocchigiani won the fight and a WBC belt; in the subsequent WBC rankings, he was listed as "Light-Heavyweight World Champion."
Jones, however, had a change of heart and asked if the WBC would reinstate him as the champion. In a move that violated nearly a dozen of its own regulations, the WBC granted the reinstatement.[citation needed] Rocchigiani received a letter from the WBC advising that the publication of his name as champion was a typographical error, and he had never been the official titleholder.[citation needed]
Rocchigiani immediately filed a lawsuit against the WBC in a U.S. federal court, claiming that the organization's actions were both contrary to their own rules and injurious to his earning potential (due to diminished professional stature). On May 7, 2003, the judge ruled in Rocchigiani's favor, awarding him $30 million (U.S.) in damages and reinstating him as a former WBC champion (Rocchigiani had lost a bout since his WBC title match).
The following day, the WBC sought protection by filing for Chapter 11 bankruptcy (i.e., corporate debt restructuring) in Puerto Rico. The organization spent the next 13 months trying to negotiate a six-figure settlement with Rocchigiani, but the fighter at first rejected the proposal.
On June 11, 2004, the WBC announced it would enter Chapter 7 bankruptcy liquidation (i.e., business closing and total asset sell-off) proceedings, effectively ending its existence. This action prompted some in the boxing community to plead with Rocchigiani to settle the dispute, which he did in mid-July 2004. The WBC continues.
Now... not the same situation, but they did have a written commitment and a verbal from Sulaiman, who told them they'd get the fight.
If they do go through with suing them... what scenarios do you see playing out?
I think Cuello has this going for him:
organization's actions were both contrary to their own rules and injurious to his earning potential (due to diminished professional stature)
This is nothing really new here, but if they have a written commitment with them that doesn't really bode well with the WBC does it?
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