UK property bigwig’s quandary incenses pertinent market

It may be that the name of Paul Kemsley is not known in other countries but he is celebrated in the realm of United Kingdom. Paul Kemsley is, in point of fact, an English property developer, best known as a former Vice-Chairman of Premier League football club Tottenham Hotspur, who he left in October 2007. Kemsley is often seen on the UK Poker circuit, playing high stakes cash games. He has developed successful investments in various online betting operators including Party Gaming, Chinese-licensed Betex, and AIM-quoted Fun Technologies.

It’s natural that he remains always in news but at present he is there due to some confounded reasons. He is, at present, involved in a legal dispute with regard to an unpaid multimillion-pound spread betting bill (allegedly). This chapter has created an upheaval in the present circumstances when the nation is busy in facing the brunt of worldwide downturn. The dispute has come to the fore owing to an alleged debt with online betting company Spreadex. It has been learnt that papers have been served and Kemsley is defending the action.

Paul Kemsley is involved in another case as well. It’s the high court action with England and Chelsea midfielder Frank Lampard. Both of them are learnt to sue Vantage Capital Management over the expiration of a dollar foreign exchange position. According to them, the activities of VCM (Vantage Capital Management) resulted into the complete breakdown of communication and they, as a fallout, missed out on tens of thousands of pounds. However, VCM is not repentant and is defending the action.

What will be the result? It is not known yet. But Kemsley’s quandaries have led to strong debates in the pertinent market. It should be remembered that he is no commoner. His most spectacular deal involved a building in the heart of the City, which Kemsley and HBOS bought for £40m and sold for a £30m profit to a former Russian deputy finance minister, just five months later.