Coward Wins Two Dismissals In Battle With Wife Ambrosiadou

Mar 23 2012 | 11:30am ET

Despite being forced to play on his estranged wife's home turf, IKOS Asset Management veteran Martin Coward has scored a pair of legal victories.

Neither of Coward's courtroom wins came on their merits. Instead, a Cypriot court has dismissed a pair of his wife's claims on technicalities, the Financial Times reports.

Most recently, the court junked Elena Ambrosiadou's bid to force coward to return $120 million he withdrew from family trusts, although the status of the money remains an inssue. Separately, Cyrpus' supreme court rejected Ambrosiadou's request to have Coward declared in contempt of court earlier this month, also on a technicality.

Ambrosiadou has accused Coward of violating a gag order issued by the Cypriot courts.

Ambrosiadou and Coward have filed a raft of litigation against one another all over Europe. The latter claims to own IKOS' algorithmic trading software, which he wrote, while the former says that the code is owned by IKOS, and that Coward has no stake in the hedge fund. Coward has admitted that he copied IKOS' software before leaving the firm.

IKOS has sought to prevent Coward from using its proprietary code at the hedge fund he plans to launch, called Dormouse. The dispute between the spouses, which began in 2009 when Coward quit after Ambrosiadou fired his research team, has seen litigation from Cyprus to London, as well as claims and counterclaims of spying, stealing and all manner of other misdeeds.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.