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On behalf of the WBC Board of Governors, World Boxing Council President Jose Sulaiman has announced that he and Graciano Rocchigiani signed a final settlement of their case on August 20, and on August 24, the Chapter 7 bankruptcy filed by the WBC in Puerto Rico was officially terminated.
Sulaiman said: "We got up from the canvas just few seconds before we were knocked out, after enduring maybe the most trying and dramatic moments of an organization managed by people and institutions that receive no income from boxing. Instead of founding another organization, we decided to make an enormous effort so the popular and prestigious green and gold belt will continue to be the most cherished award any boxer can receive.