Current:Home > MarketsSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit-VaTradeCoin
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
View Date:2025-01-08 16:01:38
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! (1515)
Related
- King Charles III celebrates 76th birthday amid cancer battle, opens food hubs
- Joey Lawrence's Wife Samantha Cope Breaks Silence Amid Divorce
- Lea Michele Gives Birth, Welcomes Baby No. 2 With Husband Zandy Reich
- Some think rumors of Beyoncé performing at the DNC was a scheme for ratings: Here's why
- Why Josh O'Connor Calls Sex Scenes Least Sexy Thing After Challengers With Zendaya and Mike Faist
- 'The Crow' original soundtrack was iconic. This new one could be, too.
- Hone downgraded to tropical storm as it passes Hawaii; all eyes on Hurricane Gilma
- US District Court Throws Out Federal Agency’s Assessment Allowing More Drilling for Fossil Fuels in the Gulf of Mexico
- See Megan Fox, Machine Gun Kelly, Brian Austin Green and Sharna Burgess' Blended Family Photos
- Tusk says he doesn’t have the votes in parliament to liberalize Poland’s strict abortion law
Ranking
- Elena Rose has made hits for JLo, Becky G and more. Now she's stepping into the spotlight.
- Where Hailey Bieber and Justin Bieber's Son Jack Sits in the Massive Baldwin Family Tree
- Ben Affleck Spends Time With BFF Matt Damon Amid Jennifer Lopez Divorce
- Hiker's body found in Grand Canyon after flash floods; over 100 airlifted to safety
- Solawave Black Friday Sale: Don't Miss Buy 1, Get 1 Free on Age-Defying Red Light Devices
- Watch these compelling canine tales on National Dog Day
- Lea Michele Gives Birth, Welcomes Baby No. 2 With Husband Zandy Reich
- Washington Commanders will replace criticized Sean Taylor installation with statue
Recommendation
-
Indiana in the top five of the College Football Playoff rankings? You've got to be kidding
-
Kamala Harris’ Favorability Is Sky High Among Young Voters in Battleground States
-
Kamala Harris’ Favorability Is Sky High Among Young Voters in Battleground States
-
Bye bye, bacon egg burritos: Some Taco Bells will stop serving breakfast
-
Mattel says it ‘deeply’ regrets misprint on ‘Wicked’ dolls packaging that links to porn site
-
Blake Lively Celebrates Birthday With Taylor Swift and More Stars at Singer's Home
-
Police investigate deaths of 5 people in New York City suburb
-
America's newest monuments unveil a different look at the nation's past