The beleaguered federation that governs international boxing may be headed for a major shake-up.
On Monday, the executive committee members of the organization — which is known as the A.I.B.A. — overwhelmingly approved a no-confidence motion against its president, Ching-kuo Wu of Taiwan, accusing him of mismanaging the federation’s finances.
The vote, taken at a tumultuous meeting in Moscow, was 12-2 in favor of the no-confidence motion, with one abstention.
Wu, who has led the A.I.B.A. since 2006, tried several times to block the no-confidence motion from coming to a vote.
The vote came days after one of the A.I.B.A.’s largest creditors, a company from Azerbaijan called Benkons, said it wanted the organization to immediately repay a $10 million loan, which is four years overdue. The loan is worth more than the A.I.B.A. has in cash on its books, according to financial documents seen by The New York Times. Last week, Benkons said if that the debt was not repaid in 30 days, it would sue the A.I.B.A. to recoup its money. Separately, an investor in the A.I.B.A.’s marketing subsidiary, B.M.A., has asked for the return of his investment, worth about $19.5 million.