Current:Home > StocksSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -MoneyMatrix
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
Robert Brown View
Date:2025-04-07 19:02:25
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! (9)
Related
- Tom Holland's New Venture Revealed
- Fantasy football Start ‘Em, Sit ‘Em: 16 players to start or sit in Week 2
- Nordstrom Rack Flash Sale: Score a $325 Trench Coat for $79 & Save Up to 78% on Hunter Outerwear & More
- New bodycam video shows police interviewing Apalachee school shooting suspect, father
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- 'Reverse winter': When summer is in full swing, Phoenix-area AC repair crews can be life savers
- Focusing only on your 401(k) or IRA? Why that may not be the best retirement move.
- 'Reverse winter': When summer is in full swing, Phoenix-area AC repair crews can be life savers
- Intel's stock did something it hasn't done since 2022
- What to know about the panic buttons used by staff members at Apalachee High School
Ranking
- South Korean president's party divided over defiant martial law speech
- When does 'Survivor' Season 47 start? Premiere date, cast, where to watch and stream
- Dallas juvenile detention center isolated kids and falsified documents, state investigation says
- Election in Georgia’s Fulton County to be observed by independent monitor
- Senate begins final push to expand Social Security benefits for millions of people
- 'Emily in Paris' Season 4 Part 2: Release date, cast, where to watch Emily's European holiday
- Kentucky attorney general offers prevention plan to combat drug abuse scourge
- Steamship that sunk in 1856 with 132 on board discovered in Atlantic, 200 miles from shore
Recommendation
Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
America's Got Talent‘s Grace VanderWaal Risks Wardrobe Malfunction in Backless Look at TIFF
Kamala Harris, gun owner, talks firearms at debate
'Happy Gilmore' sequel's cast: Adam Sandler, Bad Bunny, Travis Kelce, more confirmed
FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
Check Out All the Couples You Forgot Attended the MTV VMAs
Kamala Harris, gun owner, talks firearms at debate
Fantasy football defense/special teams rankings for Week 2: Beware the Cowboys