Current:Home > MySicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -TradeWisdom
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
View
Date:2025-04-17 06:51:40
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! (113)
Related
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Biden considering proposals to reform Supreme Court
- Panama says migration through border with Colombia is down since President Mulino took office
- Exiled Chinese tycoon Guo Wengui convicted in billion-dollar fraud scheme
- Could your smelly farts help science?
- Eric Trump calls failures that led to attempted assassination of his father infuriating
- Aging bridges in 16 states to be replaced or improved with $5 billion in federal funds
- How NBC's Mike Tirico prepares for Paris Olympics broadcasts and what his schedule is like
- New Zealand official reverses visa refusal for US conservative influencer Candace Owens
- Mother of 3-year-old found dead at recycling center feared ex-husband would harm daughter
Ranking
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- The Top 40 Amazon Prime Day 2024 Pet Deals: Save Big on Earth Rated, Purina, Blue Buffalo & More
- FDA warns Diamond Shruumz still on shelves despite recall, hospitalizations
- JD Vance could become first vice president with facial hair in decades
- Don't let hackers fool you with a 'scam
- Michael J. Fox Celebrates “Lifetime of Love” With Tracy Pollan on 36th Wedding Anniversary
- Griselda's Sofía Vergara Makes History With 2024 Emmy Nomination
- Takeaways from AP story on dangerous heat threats to greenhouse workers
Recommendation
Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
Eric Trump calls failures that led to attempted assassination of his father infuriating
The Surprising Comments Christina Hall Made About Her Marriage to Josh Hall Just Days Before Breakup
Sheriff’s deputies fatally shoot 2 people while serving a warrant in Georgia
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
Oman says oil tanker's entire crew missing after ship capsized off coast
2024 Emmy Nominations: All the Shocking Snubs and Surprises From Shogun to The Bear
Army private who fled to North Korea is in talks to resolve military charges, lawyer says