13
Nov
2019

Court awards Oquendo $800k, rules for Chagaev rematch

Square Ring / Hitz Boxing 23/05/2015

Digital Sports

Square Ring Promotions and Hitz Boxing announced today that District Court Judge Ronnie Abrams for the United States District Court for the Southern District of New York issued a 41-page final opinion and order in Oquendo vs. Terek Box Event (Case no. 14-cv-9835) awarding Oquendo damages and interest in excess of $800,000 against Chagaev’s promoter, Terek Box Event.

Also, a permanent injunction enjoining Terek from, among other things, “promoting or managing Ruslan Chagaev in any bout for the World Boxing Association (“WBA”) World Heavyweight Championship or in any bout at which his WBA championship would be at stake, other than such a bout between Fres Oquendo and Mr. Chagaev.”

On May 12, 2015, Chagaev participated in a press conference with Rafael Pianeta to announce a bout on July 11, 2015 at the GETEC Arena in Magdeburg, Germany for the WBA World Championship. On May 14, 2015, the Court issued an order for Terek to show cause why it should not be held in contempt of court for violating the Court’s preliminary injunction prohibiting Terek from promoting or managing Chagaev in a WBA title bout other than a rematch with Oquendo. The contempt of court proceedings are scheduled to be heard on June 4, 2015.

“We have provided a copy of the Court’s final decision to the WBA and its counsel and are awaiting the WBA’s public announcement on this matter,” said John Wirt, CEO of Square Ring Promotions. “The U.S. Federal Court has unambiguously spoken and issued a well-reasoned opinion in upholding Oquendo’s contract for a $1 million purse and his right to a rematch with Chagaev, and we are confident that the WBA will do the right thing and respect the Court’s decision on this matter.”

“I’m very happy that we now have a final court decision that shows what we have been telling the world for months,” said Bobby Hitz, President of Hitz Boxing. “Oquendo made sacrifices and went to Grozny when his wife and newborn baby were sick. He performed his end of the deal; now it is time for Chagaev and his promoter to honor the agreement and pay Oquendo his purse and give him the rematch he was promised. The WBA can no longer turn a blind eye and must now step in and bar the Chagaev vs. Pianeta fight.”

“First and foremost, I want to thank God for this great victory in my career through the courts and for finally getting justice,” said Fres Oquendo. “I’ve been hard at work training and getting ready for my rematch for the WBA title. Thanks to everyone and all my fans who have been so supportive of me and my family during all of this. And a very big thank you to my attorneys, Judd Burstein and Peter Schalk for believing in me and winning this case.”

“It’s been 10 years since Fres and I embarked on a journey to win the heavyweight championship of the world,” said Tom Tsatas, Oquendo’s long-time advisor. “We have been laughed at. Cheated. Ripped off. Knocked down. And we are still standing. We finally have people who believed in us, fought for us, and like us, are not quitters but rather champions of what’s right. This is a win for Fres, for the underdog, for the U.S., for the little guy, and for boxing. Never give up no matter who you’re up against. If God is with you, who can be against you?”

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