Current:Home > MarketsSicily 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:2025-04-22 15:38:20
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! (3558)
Related
- Stamford Road collision sends motorcyclist flying; driver arrested
- Louisiana Gov. John Bel Edwards will join law firm after leaving office
- Casey Anthony's Dad Answers Questions About Caylee's Death During On-Camera Lie Detector Test
- Iowa school shooting live updates: 6th grade student dead, 5 others injured in Perry High School shooting, suspect identified
- Buckingham Palace staff under investigation for 'bar brawl'
- Federal appeals court denies effort to block state-run court in Mississippi’s majority-Black capital
- Former Guatemalan president released on bond; leaves prison for first time since 2015
- A judge in Oregon refuses to dismiss a 2015 climate lawsuit filed by youth
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Make Life Easier With $3 Stanley Tumbler Accessories— Spill Stoppers, Snack Trays, Carrying Cases & More
Ranking
- Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
- Thousands attend the funeral of a top Hamas official killed in an apparent Israeli strike in Beirut
- Florida man charged with threatening to kill US Rep Eric Swalwell and his children
- Kaitlyn Bristowe Disappointed in Ex Jason Tartick for Leaning Into the Victim Mentality After Breakup
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- The Excerpt podcast: E-bikes are everywhere. Can we navigate with them safely?
- Germany’s government waters down a cost-cutting plan that infuriated the country’s farmers
- Kentucky governor backs longer list of conditions eligible for treatment under medical marijuana law
Recommendation
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
How many national championships has Michigan won? Wolverines title history explained
House Speaker Mike Johnson urges Biden to use executive action at the southern border
Felon used unregistered rifle in New Year’s chase and shootout with Honolulu police, records show
'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
What’s Going On With the Goats of Arizona
Achieve a Minimal Makeup Look That Will Keep You Looking Refreshed All Day, According to an Expert
Love Is Blind’s Renee Sues Netflix Over “Walking Red Flag” Fiancé Carter