Tobias, IBO settle dispute

Top boxing promoter Nestor Tobias, owner of MTC Nestor 'Sunshine' Tobias Promotions, has agreed to pay the International Boxing Organisation (IBO) what he owed.Tobias was dragged to court by the boxing organisation after failing to pay a sanctioning fee of US$14 200 (about N$200 000 at today's exchange rate).The organisation also demanded interest of 20% per year, calculated from 10 June 2016. Namibian Sun is in possession of court documents revealing they parties have reached an out-of-court settlement and the case has thus been removed from the court roll.“The defendants acknowledge to be indebted to the plaintiff in the amount of US$12 200 (the outstanding amount). “The defendants shall make payment of the outstanding amount to the plaintiff in three equal instalments,” the document reads.The first instalment will be paid on or before 31 October.The second instalment will be paid on or before 30 November, while the third and final instalment will be settled on 28 February 2019. “The second defendant shall provide proof of payment to the plaintiff and its authorised representative. This shall be done by emailing proof of payments,” the court document said. Tobias and the IBO also agreed to carry their own legal costs in the matter. The boxing promoter and his company will also continue to engage in businesses with the IBO, relating to the promotion and sanctioning of boxing events and fights, without prejudice. If Tobias fails to comply with the terms of the settlement agreement, the IBO may immediately issue a right of execution against the promoter for the remaining balance.The IBO also reserves the right to institute any further necessary legal action against Tobias, without further notice. The IBO filed its case against Tobias after the two entities entered in an agreement to sanction an IBO fight between Paulus Ambunda and Moises Flores in 2016 in Windhoek.In May 2016, the IBO issued an invoice for the amount of USD15 200 to Tobias as the sanctioning fee for the fight between Ambunda and Flores.The IBO claimed that Tobias only made a once-off payment of US$1 000 to the organisation on 11 June 2016 and the fight was sanctioned, even with an amount of US$14 200 still outstanding. The IBO, therefore, demanded that Tobias pay the outstanding amount, but the boxing promoter failed to do this, resulting in a legal tussle between him and the organisation. Jesse Jackson Kauraisa

Tobias, IBO settle dispute

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Namibian Sun 2026-09-10

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Tobias, IBO settle dispute

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Namibian Sun 2026-09-10

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