Current:Home > InvestSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -WealthSync Hub
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
View
Date:2025-04-15 15:59:21
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! (4489)
Related
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- 'Girl dinner,' 'bussin' and 'the ick': More than 300 new entries added to Dictionary.com
- Plush wars? Squishmallows toy maker and Build-A-Bear sue each other over ‘copycat’ accusations
- Elderly Alaska man is first reported person to die of recently discovered Alaskapox virus
- Current, future North Carolina governor’s challenge of power
- Horoscopes Today, February 13, 2024
- Has Tanya Rad’s Engagement Inspired BFF Becca Tilley to Marry Hayley Kiyoko? Becca Says…
- The Daily Money: Older workers are everywhere. So is age discrimination
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Democrats seek to strengthen majority in Pennsylvania House as voters cast ballots
Ranking
- Arkansas State Police probe death of woman found after officer
- Antisemitism and safety fears surge among US Jews, survey finds
- 'Madame Web' review: Dakota Johnson headlines the worst superhero movie since 'Morbius'
- Rare Oregon plague case caught from a cat. Here's what to know about symptoms and how it spreads.
- Grammy nominee Teddy Swims on love, growth and embracing change
- Why Fans Think Kendall Jenner and Ex Devin Booker Celebrated Super Bowl 2024 Together
- These 'America's Next Top Model' stars reunited at Pamella Roland's NYFW show: See photos
- The Best Luxury Bath Towels of 2024 That Are So Soft, They Feel Like Clouds
Recommendation
Trump wants to turn the clock on daylight saving time
WWE's Maryse Mizanin to Undergo Hysterectomy After 11 Pre-Cancerous Tumors Found on Ovaries
Elderly Alaska man is first reported person to die of recently discovered Alaskapox virus
That makes two! Suni Lee will join fellow Olympic champion Gabby Douglas at Winter Cup
North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
Hiker stranded on boulder hoisted to safety by helicopter in California: Watch the video
'Anatomy' dog Messi steals Oscar nominees luncheon as even Ryan Gosling pays star respect
On Super Bowl broadcast, ‘He Gets Us’ ads featuring Jesus stand out for change-of-pace message