Current:Home > FinanceSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -Core Financial Strategies
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
View
Date:2025-04-16 12:10:28
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! (786)
Related
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- US public schools banned over 10K books during 2023-2024 academic year, report says
- Evacuation order remains in effect for Ohio town where dangerous chemical leak occurred
- Abercrombie’s Secret Sale Has Tons of Fall Styles & Bestsellers Starting at $11, Plus an Extra 25% Off
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- Alabama Jailer pleads guilty in case of incarcerated man who froze to death
- These women spoke out about Diddy years ago. Why didn't we listen?
- Tearful Julie Chrisley Apologizes to Her Family Before 7-Year Prison Sentence Is Upheld
- California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
- Tarek El Moussa Shares Update on Ex Christina Hall Amid Divorce
Ranking
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- Sean Diddy Combs' Lawyer Attempts to Explain Why Rapper Had 1,000 Bottles of Baby Oil
- WNBA playoff games today: What to know for Sun vs. Fever, Lynx vs. Mercury on Wednesday
- DWTS' Daniella Karagach Gives Unfiltered Reaction to Husband Pasha Pashkov's Elimination
- Former longtime South Carolina congressman John Spratt dies at 82
- New Jersey hits pause on an offshore wind farm that can’t find turbine blades
- Alabama Jailer pleads guilty in case of incarcerated man who froze to death
- UNLV quarterback sitting out rest of season due to unfulfilled 'commitments'
Recommendation
Louvre will undergo expansion and restoration project, Macron says
Woman sentenced to 18 years for plotting with neo-Nazi leader to attack Baltimore’s power grid
En busca de soluciones para los parques infantiles donde el calor quema
Tarek El Moussa Shares Update on Ex Christina Hall Amid Divorce
Small twin
New 'Wuthering Heights' film casting sparks backlash, accusations of whitewashing
Harley-Davidson recalls over 41,000 motorcycles: See affected models
The northern lights might again be visible in the US as solar activity increases