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

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

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.