Peter Nygard ordered to pay billionaire neighbor $203 million in damages after driveway feud escalated to accusations of arson and Ku Klux Klan links
A hedge fund billionaire has been awarded $203 million after a New York court ruled he was defamed by his former Bahamas neighbor Peter Nygard following a decade-long feud ignited by a shared driveway. , was ordered by a New York court-appointed judge to pay the biggest defamation settlement in the state's history to Moore Capital Management founder Louis Bacon after peddling several wild allegations.
Bacon complained that Nygard, who used a driveway owned by Bacon, held several disruptive parties at his residence, while Nygard accused Bacon of scuppering his redevelopment plans after a fire,This gradually escalated into increasingly vicious attacks by Canadian fashion mogul Nygard, with Bacon's lawyers saying he personally spent $15 million on a smear campaign against Bacon.
According to the FT, Judge former U.S. District Judge Layn Phillips said the"overwhelming" and"truly stunning" nature of the evidence brought forward warranted the record sum.
France Dernières Nouvelles, France Actualités
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