Current:Home > FinanceSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -BeyondWealth Learning
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
View
Date:2025-04-18 09:47:02
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! (51)
Related
- Trump wants to turn the clock on daylight saving time
- Pittsburgh Penguins' Sidney Crosby signs two-year contract extension
- Judge rules Robert F. Kennedy Jr.'s name will stay on Wisconsin ballot
- Horoscopes Today, September 14, 2024
- All That You Wanted to Know About She’s All That
- Kate Spade's Top 100 Under $100: $259 Bag for Just $49 Today Only, Plus Extra 20% Off Select Styles
- Florida sheriff's deputy airlifted after rollover crash with alleged drunk driver
- Giving away a fortune: What could Warren Buffett’s adult children support?
- Senate begins final push to expand Social Security benefits for millions of people
- Baby Reindeer’s Nava Mau Reveals the Biggest Celeb Fan of the Series
Ranking
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Giants' Heliot Ramos becomes first right-handed batter to hit homer into McCovey Cove
- MLB power rankings: Yankees, Aaron Judge get comfortable in AL East penthouse
- Low Boom, High Pollution? NASA Readies for Supersonic Test Flight
- Trump's 'stop
- Musk deletes post about Harris and Biden assassination after widespread criticism
- 2024 Emmys: Elizabeth Debicki Details Why She’s “Surprised” by Win for The Crown
- FACT FOCUS: A look at false claims made by Trump in California
Recommendation
Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
Jennifer Garner Pays Tribute to Ballerina Michaela DePrince After Her Death
Georgia keeps No. 1 spot ahead of Texas in NCAA Re-Rank 1-134 as Florida State tumbles
Louisville interim police chief will lead department in permanent role
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Baby Reindeer’s Nava Mau Reveals the Biggest Celeb Fan of the Series
The Reformation x Kacey Musgraves Collab Perfectly Captures the Singer's Aesthetic & We're Obsessed
An Iowa shootout leaves a fleeing suspect dead and 2 police officers injured