GLORY kickboxing files for bankruptcy, removes top executives

[Loriquero]

What about Bellator Kickboxing? Is it doing okay?

Practically dead.

 

[Crash Lance]

Practically dead.

That's too bad.

 

[Broadcast]

So what is the new team now?

 

[Broadcast]

Report: GLORY Dutch Affiliated Declared Bankrupt!

https://kickboxingz.com/report-glory-dutch-affiliate-declared-bankrupt

This insolvency or whatever, for a while will be like a black spot on Glory history. They must recover big in about 2 years, in order to attract again investors outside the crew of Andurand. It may affect their sponsorships also, I don"t know, it depends.

Time for the former It"s Showtime guys to work miracles. Well, Timmers was only connected, but let"s see. He is young and can ask for advices.

 

[Kanka]

What's happening with the signed Glory fighters right now? Arethey allowed to fight for other organizations?

 

[Broadcast]

What's happening with the signed Glory fighters right now? Arethey allowed to fight for other organizations?

I doubt so. And from what I understood they must honor some of the running contracts, fighters that will be released after if they don"t change the mind of the matchmakers...

 

[Deleted member 580830]

One FC is the future of kickboxing, or at least it will keep the sport alive. We will see.

 

[Kanka]

I doubt so. And from what I understood they must honor some of the running contracts, fighters that will be released after if they don"t change the mind of the matchmakers...

That sucks if they can't have an income because they're stuck with Glory. Petchpanomrung just uploaded a video where he is training in a boxing gym, maybe he will have a boxing match

 

[Snubnoze707]

Does anyone know for certain that people are still locked into their contracts? I mean those contracts were made before they went into receivership. If they are still stuck that is BS because Glory used receivership to get out of contracts and owed money to a whole bunch of people. They would also be locking people into contracts without being able to provide them with fights. Even their proposed events are missing undercards, so theirs no way they can satisfy the needs of their fighters.

 

[wtu85]

I am not familiar with the dutch/american insolvency law, however I presume that it is similar to the Romanian provisions. If this is the case, the contractors cannot end an agreement just because the other party is in insolvency procedure. They can, however unilaterally terminate the contract if the insolvent company does not pay them their fees according to the provisions of the agreement. I presume that the judicial administrator offered some sort of remedies to the fighters and as such, addendums were added to the current agreements reflecting the current circumstances. Otherwise I can not explain myself how on earth almost all fighters remained and even new ones were contracted like Catinas. It is clear that there is some sort of money still flowing. Maybe a new company took over some agreements (Scott Rudman`s London company maybe???).