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Japanese Court Declares FEG Bankrupt

TanikawaThere has been a lot of talk over the last few years of FEG's financial problems, obviously the biggest being the scandal that erupted and led to the hiatus and sale of K-1. Caught in the crossfire of the whole ordeal was Golden Glory's Bas Boon, who is owed somewhere in the realm of $2 million by FEG and attempted to outright purchase K-1 before EMCOM purchased the rights to K-1 and formed K-1 Global Holdings. In a new interview with legendary Japanese journalist Tadashi Tanaka, Boon discusses the proceedings in Japan, as well as his suspicions over the current K-1 brand.

"At 5 pm on May 7, the Tokyo District Court issued an order declaring FEG bankrupt, and commenced proceedings to wind up the company. The court ruled that FEG is insolvent and has appointed a trustee to administer all outstanding debts of the company.

We estimate that FEG’s debts exceed $30 Million; Golden Glory is owed nearly $2 million, all of which is debts to fighters and trainers. The real tragedy is for the many incredibly talented athletes, production companies, venues, and other suppliers who were making an honest living providing services to K1.

As a creditor of FEG, Golden Glory hopes that this bankruptcy proceeding will also lead to an opportunity to shed light on the parties responsible for the company’s mismanagement and reveal what is really going on with the K-1 brand. We are especially concerned that some transactions will drain FEG of its remaining assets and goodwill and leave the creditors with nothing. It does cost a lot of money but we are confident that with the administrator from the court we will find assets from FEG/K-1 which can be used to pay some of the creditors.

It is a very long and costly process to file a petition for a foreigner in Japan."

Read the rest of the interview to see Boon's thoughts on EMCOM and K-1 Global Holdings here.

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Takumi vs Katsuki Sakaki 55kg #1 Contender’s Fight Added to Krush-EX 2012 Vol.3

Krush has just announced a few fights for its Krush-EX vol.3 event on June 17th. In a 55kg #1 contender’s bout for the right to face champ Shota Takiya, Team Dragon’s Takumi will take on Katsuki Sakaki. Takumi (11-2-0, 4 KO) is currently riding a 5-fight win streak, most recently dispatching KO-ICHI by 1st round KO at Krush.18. Sakaki (4-4-1, 4 KO) earned his spot in this fight with a 1st round KO upset of Ryuma Tobe at Krush.18. Tobe was probably brought in to be Takumi’s initial opponent for the #1 contender’s bout, but his loss to Sakaki put Sakaki in that position. The two fought back in 2010, with Takumi taking a decision win. I would favor Takumi to win again, but Sakaki has good power and showed he can stop a top fighter in Tobe. Regardless of who wins, he will be a big underdog to Takiya, who seems unstoppable at the moment. Takumi fought Takiya in the first round of the Krush 55kg tournament, losing by front kick KO.

Also added to the card are a pair of 55kg fights featuring J-Network Super Flyweight champion Yuki taking on SATOI and Team Dragon’s Namito Izawa taking on Shibuya Scramble’s Yuya Suzuki. Izawa headlined Krush-EX 2012 Vol.1 against Nobuchika Terado, but lost by decision.

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It's Showtime Champ Javier Hernandez Avenges Loss

The It's Showtime 61MAX World Champion, Javier Hernandez avenged a previous loss yesterday in Tenerife, Spain. 

Last month, Hernandez lost a very controversial fight to Ruben Almeida where he scored two knockdowns that weren't called. Hernandez had previously defeated Almeida in November, but that was in Spain. The fight last month was on Almeida's home turf, in Portugal.

Hernandez has had trouble finding fights but he was able to quickly return to the ring yesterday when he rematched a fighter who defeated him last April, Carlos "Chiquitin" Reyes. Reyes defeated Hernandez by decision last year, and went on to appear on It's Showtime's November card in Tenerife, where he was stopped on cuts by Sergio Wielzen. It's a great rebound win for Hernandez, as he goes into his It's Showtime title defense on July 21, also in Tenerife.

Also on the card, It's Showtime veteran Moises Ruibal was stopped on an injury by Francis Javier Jorge, the brother of another It's Showtime veteran, Loren Javier Jorge.

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Yuta Kubo vs Abdellah Ezbiri Added to Krush.19

Krush has announced that top 63kg fighter Yuta Kubo will be taking on French-Moroccan and WKN European Welterweight champ Abdallah Ezbiri in a 65kg fight at Krush.19 on June 8th. Kubo (32-4-1, 15 KO) has been in limbo the past year despite staking his claim at the top of the 63kg in Japan due to K-1’s absence. After winning last year’s K-1 -63kg Japan Tournament, Kubo has fought four straight foreigners with none of them providing much of a test, most recently stopping Charles Francois for the ISKA Light Welterweight title. He has won 9 straight, but until he faces a top competitor or is entered into a high-level tournament, it’s hard to get excited for Kubo’s fights. However, Ezbiri (27-4-0, 11 KO) may be Kubo’s toughest foreign test as he is on a hot streak at the moment, winning the WKN European title and the F-1 World MAX 65kg tournament last year, beating Tristan Benard, a former Kubo opponent, Vang Moua and Loris Audoui in the F-1 tournament.

Also added to the card are a 70kg fight between Team Dragon’s Masakazu Watanabe and Silver Wolf’s Yoichi Yamazaki, and a pair of 60kg fights. First, Junpei Aotsu, who lost in the first round of the recent Krush 60kg tournament, will be taking on Yuta Otaki, who won the reserve fight for that tournament. Lastly, another 60kg tournament 1st round drop-out, Yuzo Suzuki, will be taking on Shota Kobe.

These fights join the previously announced Naoki Ishikawa vs Kan Itabashi, the 60kg Tournament final between Katsuya Goto and Fumiya Osawa and an exciting 3rd leg WILDRUSH League fight between TaCa and Yukimitsu Takahashi. Despite the lack of name recognition on the card, it looks like it will produce some very entertaining fights.

EDIT: Team Dragon's Keiji Ozaki vs China's Ding Ning at 64kg was just added to this card

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