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20 May 2013

High Court judge criticises evidence given by tycoons in divorce proceedings

Two hedge fund tycoons whose marriage “turned toxic” were accused by a judge yesterday of giving “tainted” evidence in their battle over the spoils of their failed relationship, reports TheIndependent.
Martin Coward and Elena Ambrosiadou made their fortunes after creating the hugely successful IKOS investment business but their marriage fell apart and the bitterness between them has spawned more than 60 court cases.

Previously Ms Ambrosiadou, who in 2004 was named the UK’s highest paid woman, accused Dr Coward, a mathematician, of using a nanny to track her movements. He in turn claimed she bugged and spied on him.

In the latest episode of their break-up saga they were accused in London’s High Court by Mrs Justice Asplin of allowing their “obvious and deep animosity” towards each other to affect their candour. “It was quite clear that they are both highly intelligent and astute individuals,” said Mrs Justice Asplin.  

“Unfortunately, their approach to giving evidence was tainted by their obvious and deep animosity and the extremely close correlation between their business and their personal affairs.” Mrs Justice Asplin had been asked to rule on whether Dr Coward or IKOS, where Ms Ambrosiadou was chief executive, owned the rights to the software that helped propel the investment business to success.

Read the full story here.