A court in the Bahamas has approved the sale of a wharf in downtown Nassau, Bahamas, connected to Peter Nygard, a controversial fashion mogul. The decision was made following a legal dispute over the ownership of the property. The sale of the Union Wharf property, located in the heart of the Caribbean capital, was allowed after a Bahamian Supreme Court justice dismissed a request for an injunction to halt the sale.
The injunction was filed by Carlton Martin, a Bahamian lawyer who previously represented Nygard and filed lawsuits against him for unpaid fees. The legal action came in the wake of Nygard’s arrest in Winnipeg in December 2020 on charges related to sex trafficking and racketeering. A previous ruling determined that Nygard owed Martin approximately $1.9 million, along with interest.
Despite Nygard not being listed as the owner of the wharf, an entity named Galaxy Group Ltd., reportedly owned by the Nygard Foundation, was the listed owner. The Nygard Foundation is a registered charity in Barbados specialized in stem cell research.
Union Wharf, situated on New Providence island, is distinct from Nygard Cay, Nygard’s lavish estate on the opposite end of the island. Nygard has faced legal troubles, including being found guilty of sexual assault in Ontario and sentenced to 11 years in prison. He is also facing charges in Manitoba and Montreal. Nygard has denied the allegations against him and is appealing his convictions.
The sale of Union Wharf was permitted to proceed by Justice Simone Fitzcharles, with a new buyer, Buena Vista Properties Nassau Ltd., identified as an offshore entity in the Bahamas corporate registry. The sale price was approximately $14.9 million. The court ordered Galaxy Group to retain the funds owed to Martin pending further verification of Nygard’s ownership of the property. An appeal court decision later increased the amount to be set aside to about $4.8 million.
Nygard, now 84 years old, remains in custody in Ontario and faces extradition to the U.S. on additional charges once his Canadian legal matters are resolved. He continues to maintain his innocence and is challenging the charges against him.
