- Two men have fought for a decade over neighboring properties
- Feud pits hedge fund billionaires against clothing magnate
Billionaire fund manager Louis Bacon suffered another setback in his bitter, decade-long feud with Canadian clothing manufacturer Peter Nygard over their neighboring properties in the Bahamas.
Bacon, who runs the Moore Capital Management hedge fund, sued in New York state court last year, saying his neighbor forced him to flee the island nation because he feared for his family’s safety as the two fought over plans to expand Nygard’s property in the exclusive Lyford Cay. Nygard countersued, accusing Bacon of pursuing a vendetta to force him from his property.
An New York appeals court Thursday ruled against Bacon, upholding a trial judge’s dismissal of claims over most of 135 statements he said were part of a harassment campaign. Bacon took too long to file them, the court ruled, saying Bacon’s contention that he couldn’t discover Nygard’s identity because of fraud and misrepresentation was “utterly refuted” by two open letters he published.
Bacon “had sufficient knowledge to bring an action for more than a year” before he did so, the appeals court said.
Nygard in December bought full-page ads in two Bahamian newspapers calling for an end to the feud. The men have fought in courts from London to Los Angeles over matters including Nygard’s plans to expand his property and Bacon’s use of large speakers to drown out noise from Nygard’s parties.
Bacon’s attorney, Orin Snyder, didn’t immediately reply to a telephone message seeking comment on the appeals court ruling. Aaron Marks, a lawyer representing Nygard, didn’t
immediately respond to a voice-mail message seeking comment on the case.
The case is Bacon v. Nygard, 154399/2015, New York State Supreme Court, New York County (Manhattan).