Current:Home > NewsSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -Global Capital Summit
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
Algosensey View
Date:2025-04-08 06:02:16
Mike Lynch's widow could inherit his billion-dollar lawsuit.
Less than a month after the businessman died aboard the luxury yacht that sank off the coast off Sicily, Hewlett Packard Enterprises (HPE)—who filed a $6.5 billion claim against the former Autonomy CEO and Autonomy's former chief financial officer Sushovan Hussain in the U.K. in 2015—revealed it will continue to pursue damages of up to $4 billion from Lynch's estate, according to a statement from HPE that was obtained by E! News Sept. 4.
The decision to move forward with the legal case comes after Britain’s High Court ruled in 2022 that Hewlett Packard “had substantially succeeded in its civil fraud claims,” per the company's statement.
And Hewlett Packard—which accuse Lynch and Hussain in their lawsuit of fraudulently over-valuing Autonomy when selling it to the company for $11 billion in 2011—was confident that the judge's "decision regarding damages" will be issued "in due course."
However, the court's final decision has yet to be made, and Judge Robert Hildyard previously said he expected the amount Hewlett Packard will win in damages to be "substantially" less than what the company sought, per AP. (Lynch was also notably acquitted in a separate U.S. trial related to Autonomy's sale months before he boarded the Sicily yacht.)
Still, if Hewlett Packard wins the case, Lynch's wife Angela Bacares—who was rescued after the sinking that killed her husband and their 18-year-old daughter Hannah Lynch—could be the one stuck paying for the damages if she is the beneficiary of his estate.
E! News reached out to a rep for the Lynch family for comment but has not heard back.
Bacares, Lynch and their daughter were three of the 22 total people—12 guests and 10 crew members—aboard the 184-foot Bayesian yacht when it sank Aug. 19 off the coast of Sicily, Italy—an incident that maritime experts have described as anomalous.
The tragedy, which occurred due to harsh weather conditions, left five others dead in addition to Lynch and Hannah: cook Recaldo Thomas, spouses Christopher Morvillo and Neda Morvillo, as well as Morgan Stanley International Chairman Jonathan Bloomer and his wife Judy Bloomer.
Following the boat's sinking, the ship's captain, James Cutfield, became the subject of an investigation for manslaughter, his lawyer confirmed to NBC News. He has yet to be charged with any crime, and the investigation does not suggest that any charges will follow.
As for Bacares, her surviving daughter Esme Lynch has since spoken out about the immeasurable loss they feel over the deaths of Mike and Hannah.
"She is my little angel, my star," Esme said of her younger sister in an Aug. 25 statement to Sky News. "She had even more love to give endlessly to all her friends and passion to give to her incredible studies and goals."
(E! News and NBC News are both part of the NBCUniversal family.)
For the latest breaking news updates, click here to download the E! News AppveryGood! (239)
Related
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Padres make move to improve offense, acquiring batting champ Luis Arraez in trade with Marlins
- Treat your mom with P.F. Chang's Fortune Cookie Flower Bouquet for Mother's Day
- Vegas Golden Knights force Game 7 vs. Dallas Stars: Why each team could win
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Monster catfish named Scar reeled in by amateur fisherman may break a U.K. record
- 1 dead in Atlanta area apartment fire that forced residents to jump from balconies
- You’ll Be Down Bad For Taylor Swift’s Met Gala Looks Through The Years
- Tree trimmer dead after getting caught in wood chipper at Florida town hall
- Pro-Palestinian protests stretch on after arrests, police crackdowns: Latest updates
Ranking
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- I-95 in Connecticut reopens after flaming crash left it closed for days
- How many calories are in an apple? Nutrition facts for the favorite fruit.
- New 'The Acolyte' trailer for May the 4th, plus 'Star Wars' movies, TV shows in the works
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Hundreds rescued from Texas floods as forecast calls for more rain and rising water
- Behind the Scenes: How a Plastics Plant Has Plagued a Pennsylvania County
- Horoscopes Today, May 3, 2024
Recommendation
Bill Belichick's salary at North Carolina: School releases football coach's contract details
Where Nia Sioux Stands With Her Dance Moms Costars After Skipping Reunion
Academics and Lawmakers Slam an Industry-Funded Report by a Former Energy Secretary Promoting Natural Gas and LNG
Wayfair Way Day 2024: Save up to 60% off on Bedroom Furniture, Bedding, and Decor
Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
Mike Trout's GOAT path halted by injuries. Ken Griffey Jr. feels the Angels star's pain.
Anna Nicole Smith's Daughter Dannielynn Birkhead, 17, Debuts New Look at Kentucky Derby
NHL Stanley Cup playoffs 2024: Scores, schedule, times, TV for second-round games