Current:Home > MarketsSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -GrowthSphere Strategies
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
View
Date:2025-04-12 02:00:23
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! (13163)
Related
- Don't let hackers fool you with a 'scam
- Will the 2024 total solar eclipse hit near you? A detailed look at the path of totality.
- When will Fed cut rates? As US economy flexes its muscles, maybe later or not at all
- Cecil L. ‘Chip’ Murray, influential pastor and civil rights leader in Los Angeles, dies
- Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
- The Rock wins at WrestleMania 40 in first match since 2016: See what happened
- Old Navy’s Sale Is Heating Up With up to 70% off and Deals Starting at Under $10
- Victims of Montana asbestos pollution that killed hundreds take Warren Buffet’s railroad to court
- Buckingham Palace staff under investigation for 'bar brawl'
- Pat Sajak's final 'Wheel of Fortune' episode is revealed: When the host's farewell will air
Ranking
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Who is GalaxyCoin Suitable for
- Trump Media shares slide 12% to end second week of trading
- Kimora Lee Simmons' Daughter Aoki Kisses Restaurateur Vittorio Assaf on Vacation
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Your Buc-ee's questions answered: Where's the biggest store? How many new stores are coming?
- More than 65 years later, a college basketball championship team gets its White House moment
- Is Nicole Richie Ready for Baby No. 3 With Joel Madden? She Says...
Recommendation
South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
Where's accountability, transparency in women's officiating? Coaches want to know
Beyoncé investing in one of America's oldest Black-owned beauty schools
Lindsey Horan’s penalty kick gives US a 2-1 win over Japan in SheBelieves Cup
Woman dies after Singapore family of 3 gets into accident in Taiwan
Is it safe to eat runny eggs amid the bird flu outbreak? Here's what the experts say.
Alabama proved it's possible to hang with UConn. Could Purdue actually finish the Huskies?
GalaxyCoin: A new experience in handheld trading