Current:Home > StocksSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -EliteFunds
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
View
Date:2025-04-13 20:15:54
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! (3299)
Related
- Travis Hunter, the 2
- Jury sees bedroom photo of empty box that held gun used in Michigan school shooting
- Cleveland to host WWE SummerSlam 2024 at Cleveland Browns Stadium
- Nebraska woman used rewards card loophole for 7,000 gallons of free gas: Reports
- At site of suspected mass killings, Syrians recall horrors, hope for answers
- Record ocean temperatures could lead to explosive hurricane season, meteorologist says
- Pope Francis says Ukraine should have courage of the white flag against Russia
- Would Maria Georgas Sign On to Be The Next Bachelorette? She Says…
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- Website warning of cyberattack in Georgia’s largest county removed after it confused some voters
Ranking
- DoorDash steps up driver ID checks after traffic safety complaints
- The New York Times is fighting off Wordle look-alikes with copyright takedown notices
- Bachelor Nation’s Sydney Hightower Gives Birth, Welcomes First Baby With NFL Star Fred Warner
- Oscars’ strikes tributes highlight solidarity, and the possible labor struggles to come
- Louvre will undergo expansion and restoration project, Macron says
- North Carolina judges block elections board changes pushed by Republicans that weaken governor
- NFL free agency winners, losers: Cowboys wisely opt not to overspend on Day 1
- Sting 3.0 Tour: Ex-Police frontman to hit the road for 2024 concerts
Recommendation
Trump wants to turn the clock on daylight saving time
Matthew Koma gets vasectomy while Hilary Duff is pregnant: 'Better than going to the dentist'
Purple Ohio? Parties in the former bellwether state take lessons from 2023 abortion, marijuana votes
Man convicted of shooting Indianapolis officer in the throat sentenced to 87 years in prison
'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
Trump seeks delay of New York hush money trial as Supreme Court weighs presidential immunity
Jamie Lee Curtis Shares Glimpse at Everything Everywhere All at Once Reunion at 2024 Oscars
Bob Saget's widow Kelly Rizzo addresses claim she moved on too quickly after his death