AIBA President C K Wu has said he has no reason to respond to recent letters sent to him by the Interim Management Committee ©AIBA

International Boxing Association (AIBA) President C K Wu has claimed he has no reason to respond to recent letters sent to him by the Interim Management Committee (IMC).

The group opposed to Wu have requested copies of a series of loan and investment agreements and called for an Extraordinary AIBA Executive Committee meeting to be held next month.

The IMC want to use the meeting to check preparations for the Extraordinary General Assembly, where the fate of the 70-year-old Taiwanese is due to be decided.

A total of 13 of 15 members of the ruling AIBA Executive Committee opposed Wu at a meeting in Moscow last month and set up the rival IMC in an attempt to bring about his removal.

An Extraordinary General Assembly is likely to be held in October in Lausanne at which national governing bodies - as statutes dictate - will decide on whether Wu retains his position.

The IMC claim this crucial meeting, however, will take place in Dubai on November 12 and would like a pre-meeting to be held in the same city on September 23.

They have sent a letter to Wu to this effect based on purposes such as fulfilling Executive Committee duties which they have not been able to accomplish and proving the Executive Committee's efforts to stabilise the current AIBA situation continuously.

The IMC have asked for confirmation from Wu by September 1 on the request, but the AIBA President has said he has no reason to reply, describing them as an illegal organisation.

"In the AIBA statutes, the IMC has never existed," he told insidethegames here during the 2017 AIBA World Championships.

"This is why there is a court case."

C K Wu is back in attendance at the 2017 AIBA World Championships in Hamburg having recently visited Tianjin with IOC President Thomas Bach for the National Games of China ©AIBA
C K Wu is back in attendance at the 2017 AIBA World Championships in Hamburg having recently visited Tianjin with IOC President Thomas Bach for the National Games of China ©AIBA

In another letter sent to Wu, the IMC have also requested copies of several agreements they claim he has signed.

Among them is the loan agreement with Azerbaijani company Benkons MMC, which is reportedly owed $10 million (£7.7 million/€8.4 million) by AIBA.

They are also asking for a copy of the investment agreement with Boxing Marketing Arm (BMA), set up to promote and sell rights for all AIBA products.

Chinese businessman Wu Di, owner of the firm First Commitment International Trade Company (FCIT), invested CHF19 million (£15.4 million/$19.9 million/€16.6 million) into BMA but filed paperwork on May 31 requesting that his money be returned.

In May, AIBA signed an exclusive global marketing agreement with Alisports, the sport division of Chinese e-commerce giants Alibaba, leading to BMA being closed.

AIBA claim this decision was taken by the BMA Board, including Wu Di.

The IMC have also asked for the investment agreement with FCIT in BMA and the agreement with Alisports.

They have requested that all the agreements are sent to all AIBA Executive Committee members by September 1 at the latest.

Wu claimed an e-platform had been opened for a two-week period to allow AIBA Executive Committee members to read all financial reports but that only one of them took the opportunity to do so.

"They know they have no reason [to request copies of the agreements]," Wu told insidethegames.

"They are trying to confuse the focus.

"Why should I respond?

"AIBA didn’t receive a penny - not a single penny came to AIBA.

"We have all the documents - we have the bank statements, everything.

"We are going to display these in the Extraordinary Congress, where all the Congress delegates will be open to check them.

"We are transparent.

"All the documents relating to finance, relating to the Chinese investor, relating to the Azerbaijan loan will be absolutely open - there is nothing to hide.

"They just want to have this now, using it to then write something against me.

"This is their tactics and we are not going to fall into this trap.

"We are patiently waiting for the judge to make the decision.

"That is the most important thing."

The IMC held a meeting here in Hamburg on Sunday ©World Boxing Press
The IMC held a meeting here in Hamburg on Sunday ©World Boxing Press

AIBA announced last week that the District Court of Lausanne has ruled to uphold the decision to revoke the position of Wales' Terry Smith, one of the leading figures behind the IMC, on its Executive Committee.

The original decision to withdraw his position had been contested by Smith, a challenge found groundless by the Court.

Last month, Smith, who had written to Wu and other senior members of AIBA to request answers to concerns raised by AIBA’s financial director Rob Garea, was removed from the Executive Committee.

In a letter to Executive Committee members, seen by The Guardian, Garea raised worries about AIBA’s spending.

Smith wrote in his letter to Wu that "the contents of the finance director’s letter to EC (Executive Committee) members have given me great concern for the future of AIBA because it implies there may be serious deficiencies or irregularities in finance and governance".

Wu responded by claiming he had commissioned a review to improve AIBA’s corporate governance.

He claimed Smith was removed from his position because he was no longer an honorary member of Welsh Boxing.

"They [the District Court] based it [their decision] on the AIBA statutes and the bylaws," Wu said.

"Terry Smith’s loss of the election in Wales meant no position for him.

"He cannot continue based on the AIBA statutes and the bylaws.

"I had to remove him.

"Then he went to the court and now he has lost.

"He is no longer an EC member.

"This is an indication that everybody should respect your own bylaws and your own statutes.

"I keep reminding them, don’t do anything against your own statutes.

"So we are patiently waiting until the middle of September to see the court decision.

 "Simple."