Current:Home > FinanceSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -Ascend Finance Compass
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
View
Date:2025-04-19 17:21:40
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! (55)
Related
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Corporate DEI initiatives are facing cutbacks and legal attacks
- Bachelor Nation's Kaitlyn Bristowe Shares Encouraging Message After Jason Tartick Breakup
- Jamie Foxx took 'an unexpected dark journey' with his health: 'But I can see the light'
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Chikungunya virus surges in South America. But a new discovery could help outfox it
- Trump cancels press conference on election fraud claims, citing attorneys’ advice
- Wendy's breakfast menu gets another addition: New English muffin sandwiches debut this month
- Federal hiring is about to get the Trump treatment
- David Byrne has regrets about 'ugly' Talking Heads split: 'I was more of a little tyrant'
Ranking
- California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
- Federal judges rule against provisions of GOP-backed voting laws in Georgia and Texas
- CDC tracking new COVID variant BA.2.86 after highly-mutated strain reported in Michigan
- Underground mines are unlikely to blame for a deadly house explosion in Pennsylvania, state says
- Tom Holland's New Venture Revealed
- Pink Shows Support for Britney Spears Amid Sam Asghari Divorce
- Ravens sign veteran edge rusher Jadeveon Clowney
- DonorsChoose sees banner donation year with help from Gates Foundation and millions of small gifts
Recommendation
At site of suspected mass killings, Syrians recall horrors, hope for answers
Federal appellate court dismisses challenge to New Jersey gun law
Raise a Glass to Ariana Madix's New Single AF Business Venture After Personal Devastation
Stem cells from one eye show promise in healing injuries in the other
Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
Decathlete Trey Hardee’s mental health struggles began after celebrated career ended
CLEAR users will soon have to show their IDs to TSA agents amid crackdown on security breaches
Where is Vanna White? The 'Wheel of Fortune' host has rarely missed a show.