Current:Home > FinanceSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -Apex Capital Strategies
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
View
Date:2025-04-18 22:36:48
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! (3119)
Related
- Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
- Are Macaulay Culkin and Brenda Song Married? Why Her Ring Finger Is Raising Eyebrows
- 102 African migrants detained traveling by bus in southern Mexico; 3 smugglers arrested
- Texas Supreme Court rules against woman seeking emergency abortion after she leaves state for procedure
- A South Texas lawmaker’s 15
- German prosecutors indict 27 people in connection with an alleged far-right coup plot
- These pros help keep ailing, aging loved ones safe — but it's a costly service
- As Navalny vanishes from view in Russia, an ally calls it a Kremlin ploy to deepen his isolation
- Louvre will undergo expansion and restoration project, Macron says
- What does it mean to be Black enough? Cord Jefferson explores this 'American Fiction'
Ranking
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- Imagine if GPS got lost. We at Space Force worry about it so you don't have to.
- Remembering Ryan O'Neal
- How Zach Edey, Purdue men's hoops star, is overcoming immigration law to benefit from NIL
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Thousands of protesters gather in Brussels calling for better wages and public services
- Inflation continues to moderate thanks to a big drop in gas prices
- Canadian police charge man accused of selling deadly substance with 14 new murder charges
Recommendation
B.A. Parker is learning the banjo
Remembering Ryan O'Neal
Kate Cox did not qualify for an abortion in Texas, state Supreme Court says
Zac Efron shouts out 'High School Musical,' honors Matthew Perry at Walk of Fame ceremony
California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
Florida dentist gets life in prison in death of his ex-brother-in-law, a prominent professor
EU remembers Iranian woman who died in custody at awarding of Sakharov human rights prize
Special counsel asks Supreme Court to decide whether Trump is immune from federal prosecution