The Taiwanese, head of AIBA since 2006, is confident that the decision will be overturned because he claims that the correct procedures has not been followed.

The 70-year-old Wu claimed that the AIBA Disciplinary Commission do not have the power to suspend the President and only the Congress can take such action. 

He also claimed its chairman, American Tom Virgets, had a conflict of interests because of his association with Boxing Marketing Arm (BMA), set up to promote and sell rights for all AIBA products.

The Disciplinary Commission said its decision to suspend followed complaints on October 1 from 11 members of the AIBA Executive Committee who have opposed Wu since a meeting in Moscow in July. 

Wu was allegedly in breach of several disciplinary codes and statutes.

It then listed the four main complaints against him.

They were his attempt to dismiss opponents on the AIBA Executive Commission, taking commercial decisions without approval, misleading the media and National Federations about the organisation's finances and blocking an attempt to organise a vote of no confidence against him.

According to the Disciplinary Commission, AIBA is now CHF 15 million (£11.5 million/$15.5 million/€13 million) in debt "without any management or commercial reason" and has not been able to persuade auditors KPMG to sign off on its 2016 accounts.

Italy's Franco Falcinelli, head of the European Boxing Confederation, is expected to take over as Interim President. 

Wu has denied the findings of the AIBA Disciplinary Commission and predicted the suspension would not survive a legal challenge.

Last month the Swiss District Court rejected requests from the 11 members of the Executive Committee for urgent provisional measures to be taken over the running of AIBA.

"The latest internal political manoeuvrings display once again the flagrant disregard for the law after the decision of the Swiss Court to uphold my status as President," he told insidethegames.

"In clear breach of AIBA Statutes, I firmly believe that Mr Virgets’ actions will also be overruled by the Swiss Court. 

"The charges of financial mismanagement have already been thrown out, and given Mr Virgets’ position as a Board member of BMA so in complete conflict of interest with some elements of the claim, I am in no doubt that the judge will once again see the clear conflict of interest and decide in the best interest of AIBA."

In August the 11 members of the AIBA Executive Committee had tried unsuccessfully to suspend William Louis-Marie as executive director after they claimed he had tried to defend Wu illegally. 

Wu's lawyers will also claim that Virgets was conflicted because was a Board member of the BMA. 

Chinese businessman Wu Di, owner of the firm First Commitment International Trade Company, 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.

Earlier that month, AIBA had 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.