Billionaire hedge fund founder Louis Bacon’s $203 million defamation judgment against Finnish-Canadian fashion mogul Peter Nygard was thrown out because Nygard wasn’t properly served court papers while imprisoned for sexual assault.
The Moore Capital founder won his case by default last year after Nygard, Bacon’s former next-door neighbor in the exclusive beachfront community of Lyford Cay, Bahamas, failed to respond to the suit. A court-appointed referee found that Nygard had spread lies about Bacon “out of ill-will, spite, and malice” as part of a years-long feud.
Nygard, 83, is in prison after being convicted in