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Nygard company signed $50M US loan security on Christmas Day

Peter Nygard also owes $1.6M to crisis-response firm; company wants Manitoba court to make him pay

A Manitoba company owned by fashion mogul Peter Nygard put up four of its properties, including its Winnipeg and Toronto headquarters, as security to borrow millions last Christmas.

In late 2019, Nygard Properties Ltd. arranged a debenture in the amount of $50 million US through a New York-based financial services firm, White Oak Commercial Finance LLC.

(White Oak Commercial Finance, LLC, 1155 Avenue OF The Americas FL 15, New YorkNY10036-2711  United States)

The debenture is the security for a loan agreement between various lenders and Nygard companies in both Canada and the U.S., according to the debenture documents.

In an initial statement to CBC News, Ken Frydman, a spokesperson for Nygard International, said the debenture is part of succession planning for Peter Nygard.

Alleged Nygard sex ring fuels raging Bahamas corruption scandal

NASSAU, Bahamas —The former retail shop in the largest regional mall is shuttered, the lavish oceanfront property is all but abandoned and Peter Nygard hasn’t been in the country for more than a year.

But the effects of Nygard’s alleged reign of abuse in the developing island nation live on in the women who say he raped them.

The Free Press has heard the stories of six Bahamian women this week who claim the Winnipeg fashion mogul, whose wealth is estimated at more than $900 million, sexually abused them. Five of the women were minors at the time of the alleged offences.

Nygard, 78, maintains his innocence. The allegations have not been proven in court.

Los Angeles PR firm hired private investigators to find and serve court papers to Peter Nygard


A California company suing Peter Nygard has gone to extraordinary lengths to track down the fashion mogul, even sending a “provocatively dressed” private investigator to his home in an effort to serve him with court documents.

In 2014, Nygard’s lawyers hired Los Angeles-based Sitrick and Company for consulting and public relations services during a bitter legal battle involving Nygard and his neighbour in the Bahamas, Louis Bacon. Sitrick has represented many controversial clients, including Harvey Weinstein.

Nygard paid the PR firm some of his bills, but not all.

To be continued…

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