Current:Home > FinanceSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -Wealth Impact Academy
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
View
Date:2025-04-26 07:52:32
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! (9248)
Related
- Military service academies see drop in reported sexual assaults after alarming surge
- California governor, celebrities and activists launch campaign to protect law limiting oil wells
- Messi still injured. Teams ask to postpone Inter Miami vs. NY Red Bulls. Game will go on
- Prosecutors charge a South Carolina man with carjacking and the killing of a New Mexico officer
- 'Most Whopper
- Metal detectorist looking for World War II relics instead finds medieval papal artifact
- Federal judge temporarily blocks plans for a power line in Mississippi River wildlife refuge
- Princess Kate video: Watch royal's full announcement of cancer diagnosis
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- Recent assaults, attempted attacks against Congress and staffers raise concerns
Ranking
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Why the NBA's G League Ignite will shut down after 2023-24 season
- Kate Middleton Diagnosed With Cancer: Revisiting Her Health Journey
- March's full moon will bring a subtle eclipse with it early Monday morning
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- Caitlin Clark has fan in country superstar Tim McGraw, who wore 22 jersey for Iowa concert
- Auburn guard Chad Baker-Mazara ejected early for flagrant-2 foul vs. Yale
- Ariana Grande, Josh Peck and the problem with punishing child stars
Recommendation
Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
Lawmakers who passed a bill to lure nuclear energy to Kentucky say coal is still king
2 Black officers allege discrimination at police department
Amid warnings of online extremism, Air Force Academy monitors incidents | The Excerpt
Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
Who is Princess Kate? Age, family, what to know about Princess of Wales amid cancer news
March's full moon will bring a subtle eclipse with it early Monday morning
Teen pleads guilty in murder case that Minnesota’s attorney general took away from local prosecutor