Property tycoon Robert Tchenguiz is seeking up to £40m in damages from a spread-betting firm over losses he incurred on investments in FirstGroup.
Tchenguiz is embroiled in legal action against Entain, owner of Ladbrokes and Coral, and its former subsidiary Intertrader, which is suing him for £9m left unpaid on his spread-bet position on FirstGroup, after the company’s share price collapsed.
Tchenguiz has claimed Intertrader breached his agreement and accused Entain of wrongfully procuring the breaches. He is seeking compensation of £23m to £40m.
