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Poker Pro Andrew Feldman Loses High Court Debt Battle

UK Poker Pro Ordered To Pay £136,000 Spread Betting Debt To Rabbi

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Andrew Feldman loses high court battle over debtThe UK High Court today ordered poker pro Andrew Feldman to pay Simon Nissim £136,000 which the rabbi lost spread betting on behalf of Feldman according to Independent.co.uk.

He also ordered Feldman, who had taken the case to have a statutory demand for the money set aside, to pay £20,000 costs in the case.

Nissim argued that Feldman had agreed to indemnify him against any loses incurred as a result of the spread betting agreement but Feldman counter argued that Nissim placed too many bets (up to 77 in one session) and had acted outside the scope of their initial arrangement.

The judge ruled that, “The undisputed facts provide more than sufficient grounds upon which to conclude that Mr Feldman agreed to indemnify Mr Nissim and acknowledged that the amounts claimed by Mr Nissim fell within the scope of the agreed indemnity.”

“Mr Feldman suggests that if the net result had been a positive one (on spread betting), Mr Nissim would have claimed the bets for himself; but that because net losses were made, Mr Nissim ‘had retrospectively sought to allocate to me bets that he in fact made on his own behalf’.”

He dismissed this suggestion as “inherently unlikely” and awarded in favour of Nissim who now works in New York.