Canada / New York — Billionaire hedge fund manager Louis Bacon has won a major defamation lawsuit against former fashion mogul Peter Nygard in a New York court.
The judgment comes nearly a decade after Bacon first filed the case, accusing Nygard of spreading harmful lies about him.
Justice Richard Latin ruled in favour of Bacon on December 23, 2025, after finding that Nygard admitted he had no evidence to support his damaging statements.
The harmful claims accused Bacon of murder, drug trafficking, and links to the white supremacist Ku Klux Klan.
Long‑Running Dispute and Smear Campaign
Bacon, founder of Moore Capital Management, filed the lawsuit in 2015 amid a bitter feud with Nygard over their neighboring properties in the Bahamas.
The two had lived in an exclusive gated community, where disagreements over land and development sparked public accusations.
In his complaint, Bacon said Nygard orchestrated a malicious smear campaign.
Allegedly, Nygard used manipulated media, videos, and statements to damage Bacon’s reputation.
The defamatory statements included claims that Bacon was involved in illegal acts and extremist groups without any proof.
During the trial, Nygard conceded he had no factual basis for his accusations.
Justice Latin said Nygard’s admissions meant the defamation case clearly favoured Bacon.
Nygard’s lawyer has said the former fashion executive intends to appeal the ruling.
Nygard’s Past Legal Troubles
Peter Nygard once led Nygard International, a major fashion company based in Winnipeg that later went bankrupt after a series of scandals.
He is now serving an 11‑year prison sentence in Canada after a Toronto jury convicted him on four counts of sexual assault in 2023, related to incidents spanning decades.
Nygard has denied the allegations in both civil and criminal matters, even as courts dealt with various legal challenges in Canada and abroad.
Despite his legal battles, many of his past defamation claims have not succeeded.
Impact of the Decision
Legal experts say this ruling highlights the serious consequences of spreading harmful falsehoods, even between wealthy and powerful individuals.
Bacon’s victory reaffirms that defamation laws can hold influential figures accountable for damaging speech without evidence.
The case also brings renewed attention to Nygard’s legal and criminal history and reflects ongoing public scrutiny of his conduct.
As Nygard pursues an appeal, both sides are expected to continue fighting over the outcome.
