Current:Home > ScamsSicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit -AssetFocus
Sicily Yacht Sinking: Why Mike Lynch’s Widow May Be Liable for $4 Billion Lawsuit
View
Date:2025-04-18 04:58:07
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! (6683)
Related
- Former longtime South Carolina congressman John Spratt dies at 82
- 12-foot Skelly gets a pet dog: See Home Depot's 2024 Halloween line
- Cute Sandals Alert! Shop the Deals at Nordstrom's Anniversary Sale 2024 & Save on Kenneth Cole & More
- 'The View' co-host Whoopi Goldberg defends President Joe Biden amid his third COVID diagnosis
- New data highlights 'achievement gap' for students in the US
- Map shows states where above-normal temperatures are forecast to continue this fall
- Federal appeals court blocks remainder of Biden’s student debt relief plan
- Dubai Princess Blasts Husband With “Other Companions” in Breakup Announcement
- Travis Hunter, the 2
- Funds to Help Low-Income Families With Summer Electric Bills Are Stretched Thin
Ranking
- Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
- Is Mike Tyson vs. Jake Paul fight in jeopardy if Paul loses to Mike Perry?
- Minneapolis approves officer pay raise years after calls to defund the police
- CBS News President Ingrid Ciprián-Matthews inducted into NAHJ Hall of Fame
- New Zealand official reverses visa refusal for US conservative influencer Candace Owens
- Priscilla Presley sues former associates, alleging elder abuse and financial fraud
- Foo Fighters' Citi Field concert ends early due to 'dangerous' weather: 'So disappointed'
- Man gets 3 years in death of fiancée who went missing in Ohio in 2011
Recommendation
Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
Lou Dobbs, conservative pundit and longtime cable TV host for Fox Business and CNN, dies at 78
Priscilla Presley sues former associates, alleging elder abuse and financial fraud
'We are so proud of you': 3 pre-teens thwart man trying to kidnap 6-year-old girl
San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
Is Alabama adding Nick Saban's name to Bryant-Denny Stadium? Here's what we know
Recalled Diamond Shruumz gummies contained illegal controlled substance, testing finds
Fact check of Trump, others on Day 4 of the Republican National Convention