A former business associate of Sean "Diddy" Combs has struck out in his latest attempt to cash in on wild allegations that the rapper threatened him with a baseball bat.

An appeals court yesterday tossed out a Manhattan Supreme Court lawsuit filed by Kirk Burrowes — president of Combs' Bad Boy Entertainment for three years — siding with the hip-hop megastar.

Burrowes claimed Combs, a multimillionaire, attacked him in an attempt to get him to give up his stake in Bad Boy Entertainment

"The whole thing was a complete fabrication," said Combs' lawyer, Benjamin Brafman.

"We are gratified with the Appellate Division's unanimous decision. This is a perfect example of how vulnerable celebrities are to the filing of lawsuits that don't have any merit."

The appeals-court judges found that the allegations, dating to 1996, are too old for the case to go forward.

This isn't the first time Burrowes' claim failed to pass muster.

A Manhattan federal judge tossed a previous lawsuit by Burrowes against Combs, in 2003.