The 10-year battle of billionaires Louis Bacon and Peter Nygard isn’t over yet.
A New York appellate court gave hedge funder Bacon’s $50 million defamation suit against his Bahamian next-door neighbor, Canadian fashion-mogul Nygard, a new life this week.
The two have been feuding in US and UK courts after a disagreement involving Nygard attempting to expand his property in affluent Lyford Cay.
Bacon then blasted music toward Nygard’s property, according to court papers.
That’s when the feud turned nasty. Bacon brought the current complaint against Nygard in 2015, accusing his adversary of masterminding a smear campaign that painted the 59-year-old investor as a racist, a drug trafficker and a Ku Klux Klan member.
A Manhattan judge tossed the suit in 2016 on grounds it should be tried in the Bahamas, where the alleged infractions occurred.
An appeal by Bacon later that year was turned aside.
In the most recent appeal, a panel of judges overturned the judge’s decision, ruling the court feared Bacon “would suffer hardship if required to litigate in the Bahamas, which has no jury trial right.”
It also noted both parties have “a substantial presence in New York” and the resources to remove “hardship” as a practical concern about the trial’s location.