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UK property tycoon faces lawsuit over spread bet bill

LONDON, England -- As reported by The Observer: "Property entrepreneur Paul Kemsley has become embroiled in a legal dispute over what is claimed to be an unpaid multimillion-pound spread betting bill. The action comes at a difficult time for Kemsley, whose UK property empire is under pressure as valuations tumble.

"One of the sector's most colourful characters, Kemsley's dispute has arisen over an alleged debt with online betting company Spreadex. Papers have been served and Kemsley is defending the action, which could be resolved next month..."

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