Hedge Fund Billionaire Louis Bacon Is Fighting With His Neighbor In The Bahamas
The dispute between billionaires Peter Nygard and Louis Bacon over their adjacent Bahamas mansions is coming to a courthouse in New York City.
Bacon, hedge fund billionaire, is suing Canadian clothing magnate Nygard for allegedly engaging in "a long history of character assassination and numerous environmental misdeeds," related to Nygard's tropical estate, according to The New York Times.
Bacon claims Nygard has been "illegally and surreptitiously adding to the size of his compound to the detriment of the local environment," and even allegedly ignoring a government order in 2010 to limit building onto his 150,000-square-foot estate he calls "Nygard Cay."
Additionally, Bacon claims the eccentric playboy billionaire has commercialized his property, turning it into a party pad for celebrities. And to add insult to injury, he also says Nygard has been assassinating his character by hiring journalists to write articles that paint Bacon as a "murderer, drug trafficker and a member of the Ku Klux Klan."Meanwhile, Nygard's lawyer says in a statement: "Today's lawsuit is a continuation of Louis Bacon's malicious campaign against Peter Nygard with the objective of obtaining Mr. Nygard's Bahamian property (Nygard Cay), through illegal means, and to wrongfully continue to damage Mr. Nygard's businesses and reputation."
He plans on filing a countersuit.
Welcome to New York, boys.