London — Hewlett Packard Enterprise has said it won’t drop its UK claim for damages against the estate of British tech mogul Mike Lynch, who died when his superyacht sank last month.
Britain’s High Court in 2022 ruled mostly in favor of the US technology company, which accused Lynch and his former finance director of fraud over its $11 billion takeover of his software company Autonomy. Hewlett Packard is seeking up to $4 billion in damages and the judge is expected to issue a decision on the final sum soon.
Lynch’s widow, Angela Bacares, could now be liable for the damages. Lynch died when his yacht, the Bayesian, sank in a storm off Sicily on August 19.
Months before the sinking, Lynch was acquitted in a separate US criminal trial of fraud and conspiracy charges in the deal.
Hewlett Packard initially celebrated the costly acquisition of Lynch’s company in 2011 but quickly came to regret it. The company said in a statement Monday that it had “substantially succeeded” in its civil fraud claims against Lynch and Sushovan Hussain, the former finance director.
Divers of the Vigili del Fuoco, the Italian Corps. of Firefighters enter Porticello harbor near Palermo, with the body of Hannah Lynch, the last missing person at the back of the boat on August 23, 2024, four days after the British-flagged luxury yacht Bayesian sank. Divers searching a sunken superyacht off Sicily for UK tech tycoon Mike Lynch's teenage daughter found a body, a coastguard official told AFP. Lynch's daughter Hannah, 18, had been the last person missing after his family's luxury yacht sank off the Italian island killing the businessman and five others. The Bayesian, which had 22 people aboard including 10 crew, was anchored some 700 metres from port before dawn when it was struck by a waterspout.
Alessandro Fucarini/AFP/Getty Images
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“It is HPE’s intention to follow the proceedings through to their conclusion.”
However, the judge in the UK civil case has already ruled that the amount payable in damages would be “substantially less” than the company is seeking.
A spokesperson for Lynch’s family declined to comment.
Lynch and his daughter Hannah were among six passengers who died when the 56-meter (184-foot) luxury yacht went down. One crew member, the boat’s chef, also died, while 15 people survived the disaster. They had gathered on the yacht to celebrate Lynch’s acquittal.
Officials initially said the yacht was struck by a tornado over the water, known as a waterspout, but the weather phenomenon was re-identified as a downburst. Prosecutors in Italy are investigating the captain on possible charges including manslaughter.
