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Jorge Paez of Mexico retained his International Boxing Federation featherweight championship with an unpopular 12-round split decision over Troy Dorsey of Dallas Sunday at the Las Vegas Hilton. The bout was close because of Paez' lack of effort as much as because of Dorsey's performance. Paez displayed his complete and impressive arsenal only twice - early in the second round when he knocked down Dorsey with a left to the head and late in the 11th. Paez spent the remainder of the time on the ropes counter punching.