The West moderation team have never and will never promote players running their own duelling competitions. Not saying that you are not allowed to but it has, in 80% of cases, resulted in account bans because the people running them have gotten greedy and used this to advantage their own characters.
If you still feel you would like to run something like this and you are confident you will play fair, send support a ticket, my attention with your questions and I'll give you more insight on what can or cannot be done.