MEXICO CITY, 13 June 2004 — Germany’s Graciano Rocchigiani, the former world light-heavyweight boxing champion, has sent the World Boxing Council (WBC) down for the count.
The global boxing sanctioning body, one of three most-regarded groups who decide world champions, declared bankruptcy here Friday after court proceedings upheld a $31 million award given to Rocchigiani.
“Rocky” claimed he was illegally stripped of the organization’s light heavyweight title in March of 1998. The WBC was forced into Chapter 7 bankruptcy liquidation proceedings Friday, a year after it filed for Chapter 11. The WBC hoped to persuade the court and jury that it was not liable or responsible for “the harm Rocchigiani alleged.”
“Sadly, and despite a vigorous defense, the WBC did not prevail,” WBC President Jose Sulaiman said.
He also claimed that the organization has done everything in its power to comply with the procedures and orders of the Federal Court in New York and Bankruptcy Court in Puerto Rico.
The WBC also was ordered to recognize Rocchigiani as champion from 1988-2000. Rocchigiani beat Michael Nunn for what was supposed to be a title that Roy Jones Jr., had relinquished. But in June, when Jones decided he wanted to keep the belt, the WBC opted to retain him as champion.
