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Statement From Peter Nygard

Statement From Peter Nygard

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Published by torontostar
Canadian fashion tycoon responds to allegations about his Bahamas estate.
Canadian fashion tycoon responds to allegations about his Bahamas estate.

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Published by: torontostar on Jul 15, 2014
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This Press Release has been approved by Peter J Nygård, Nygård International
and Fillmore Riley LLP
- Press Release -
Recent media reports regarding efforts to re-build Nygard Cay have not been presented
accurately. Peter Nygard has been a champion of the Bahamas and specifically the preservation
of Simms Point and Jaws Beach for more than 30 years. Mr. Nygard fully supports protecting the
environment of the Bahamas. It is the natural beauty of the Island which led him to choose this
country for his home.
The current judicial review applications, which have been filed in court over the last 2 weeks, are
an attempt to change the government process. They present no new environmental
assessments. In 2010, Mr. Nygard made an application to the Government for permits regarding
the reconstruction of his private residence. Since filing for the permits Mr. Nygard has fully
cooperated during a long wait period of 4 years. The required environmental assessments have
been completed and are in the hands of the Government, including the most recent assessment
completed in February 2014. These assessments confirm that there has never been any adverse
environmental impact caused by Nygard activities.
There has been more than enough time to complete proper reviews and assessments and Mr.
Nygard has been more than patient. Oddly, it now appears Mr. Nygard's simple application for
permits has been hand selected and used improperly by "Save the Bays", an organization that is
the front for the very secretive Louis Bacon who is the owner of Moore Capital Management. As
Mr. Nygard's immediate neighbour in Lyford Cay, Mr. Bacon has orchestrated continual attacks
on Mr. Nygard for many years . Louis Bacon has always wanted Nygard Cay for himself and Mr.
Nygard has never been interested in selling his home. Over 10 years ago, Louis Bacon told Mr.
Nygard that he would "get it one way or another". Now "Save The Bays" is focusing on the re-
building of a private home while publicly stating their issue is the government process. This
tactic led by Louis Bacon is a complete farce and an improper manipulation of the public
process to acquire Nygard Cay.
The documents related to construction activities at Nygard Cay clearly show permission to build
on government land and the promise by the government of a lease of that property was obtained
in a letter from the Lands and Survey Director Mr. Garraway. Mr. Nygard simply wants to re-build
and restore his home following a devastating fire in 2009 that left 70% of the home in ruins.
These new judicial review claims are nothing more than on-going "legal stalling" tactics which
have been waged by Louis Bacon for more than 5 years now. The recent judicial review claims
have not included any new environmental assessments. In fact none has been provided by the
group who call themselves "Save the Bay" or by any other parties protesting
the government process. It is the legal duty of the Government to review the permit application
and it has completed its due diligence.
There have been false claims made that suggest the Nygard Cay property is to become a
medical facility. Mr. Nygard has confirmed on numerous occasions this is completely false. He
has no intent of building a stem cell facility on his property, and has made no application to use
his property in that manner. In fact, his application is to invest $50 Million dollars and employ
approximately 200 Bahamian people to simply complete the reconstruction of his private
Peter Nygard and many who are close to him are shocked at the allegations as he has always
been environmentally conscious. He advocates policies within his company to promote and
support several environmental programs. Peter Nygard specifically designed his home to
showcase the natural beauty of the Bahamas and to preserve its natural environment.
Nygard Cay has been one of the main attractions in the Bahamas over the last 30 years. It is
often called the 8th wonder of the world. Throughout the years, Mr. Nygard has shared his
property with many celebrities, dignitaries and members of the Lyford Cay community, such as
Sean Connery, George H.W. Bush, and members of various royal families. It has been a favorite
destination for weddings and anniversaries for Lyford Cay residents and local Bahamians. Nygard
Cay has been the host of Olympic and amateur sports training events and
celebrations and church socials.
Peter Nygard became a Bahamian in the early 80's. He is an environmentalist, a humanitarian
and has been described as the most philanthropic champion for the Bahamian people.
Currently, in addition to substantial donations, Peter Nygard has also given the full use of
his home to the Bahamian National Defense Force, who is working in partnership with
the Clifton Heritage Foundation in the running of a 6-week summer camp for 700 inner
city kids, which is being hosted presently at Nygard Cay.

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