Brevan Howard Counterclaim Should Be Dismissed, Chris Rokos Says
2014-08-26 12:16:44.114 GMT
By Lindsay Fortado
Aug. 26 (Bloomberg) -- Rokos, formerly one of hedge fund’s
top traders, says in court documents that clauses in his
partnership agreement allegedly preventing him from starting his
own fund until 2018 “are unenforceable as an unreasonable
direct restraint of trade”
* Obligations are “unreasonably harsh,” imposed when Rokos
“was at a commercial or negotiating disadvantage” to the
other partners, “in particular Alan Howard”
* Rokos comments in court documents filed in Jersey on Aug. 22
and made public today
* Rokos says if Brevan Howard hadn’t paid him $73m earlier
this year, firm “would have breached its obligation to make
the said payments” and couldn’t have lawfully withheld them
* NOTE: Brevan Howard May Seek Return of Up to $73 Million
Paid to Rokos NSN NAAIE56S972A <GO>
For Related News and Information:
Hedge-fund news: NI HEDGE <GO>
Hedge-fund rankings: HFND <GO>
To contact the reporter on this story:
Lindsay Fortado in London at +44-20-3216-4806 or
lfortado@bloomberg.net
To contact the editors responsible for this story:
Mark Bentley at +49-699-204-1262 or
mbentley3@bloomberg.net
2014-08-26 12:16:44.114 GMT
By Lindsay Fortado
Aug. 26 (Bloomberg) -- Rokos, formerly one of hedge fund’s
top traders, says in court documents that clauses in his
partnership agreement allegedly preventing him from starting his
own fund until 2018 “are unenforceable as an unreasonable
direct restraint of trade”
* Obligations are “unreasonably harsh,” imposed when Rokos
“was at a commercial or negotiating disadvantage” to the
other partners, “in particular Alan Howard”
* Rokos comments in court documents filed in Jersey on Aug. 22
and made public today
* Rokos says if Brevan Howard hadn’t paid him $73m earlier
this year, firm “would have breached its obligation to make
the said payments” and couldn’t have lawfully withheld them
* NOTE: Brevan Howard May Seek Return of Up to $73 Million
Paid to Rokos NSN NAAIE56S972A <GO>
For Related News and Information:
Hedge-fund news: NI HEDGE <GO>
Hedge-fund rankings: HFND <GO>
To contact the reporter on this story:
Lindsay Fortado in London at +44-20-3216-4806 or
lfortado@bloomberg.net
To contact the editors responsible for this story:
Mark Bentley at +49-699-204-1262 or
mbentley3@bloomberg.net