The seizure follows years of court actions between Nygard and his next-door neighbour, American billionaire hedge fund manager Louis Bacon. Nygard considers himself to be completely above the law in the Bahamas,” Smith said. “Louis Bacon has always wanted Nygard Cay for himself and Mr. Nygard has never been interested in selling his home,” a lawyer said in a 2014 statement. “We were created to deal with issues in the Clifton Bay area, and Mr. Nygard was one of the main culprits,” he said. “It really isn’t a little petty squabble between Mr. Nygard and Mr. Bacon.

Source: National Post October 01, 2018 09:56 UTC