Louis Bacon Awarded $203 Million in Nygard Defamation Case (1)

Billionaire hedge fund founder Louis Bacon was awarded more than $203 million in a defamation case against the Finnish-Canadian fashion mogul Peter Nygard.

A special referee appointed by a New York judge has determined that Nygard owes $50 million to compensate Bacon for spreading lies about him, in the course of a long-running feud between the two former Bahamas neighbors. Nygard must pay an additional $100 million in punitive damages for making untrue statements “out of ill-will, spite, and malice,” the referee, retired federal judge Layn Phillips, said in an order Thursday.

“The overwhelming nature of the evidence ...