Mike Lynch's estate faces £3bn HP claim despite tragic death in yacht disaster
Hewlett Packard has said that it will continue its £3 billion claim against Mike Lynch, the British tech mogul who died in the Bayesian superyacht tragedy.
Just over two weeks after billionaire Mike Lynch tragically lost his life in the Bayesian superyacht disaster, US tech behemoth Hewlett Packard Enterprise (HPE) has confirmed its intention to press on with its £3 billion legal claim against the mogul. The body of the British tech tycoon was recovered a little over two weeks ago, following the catastrophic event that claimed seven lives.
Lynch, 59, was marking his triumph over the tech giant in the US criminal courts aboard his £30 million superyacht 'Bayesian', when disaster struck off the Sicilian coast in the early hours of August 19. The precise cause of the 184ft yacht's capsizing is still under investigation, but extreme weather conditions are suspected to have been a factor.
However, despite the celebrations, the beleaguered tycoon was still facing a civil case in the UK High Court over fraud allegations linked to the £8.3 billion sale of his firm, Autonomy, in 2011.
HPE has stated it plans to continue its civil claim against the late tycoon's estate and "follow the proceedings through to their conclusion."
This could potentially leave Lynch's widow Angela Bacares, who survived the yacht tragedy, liable for the £3 billion in damages. However, according to the Independent, judges have already decreed any damages will be "substantially less" than this staggering amount.
The legal battle between Mike Lynch and Hewlett Packard has been ongoing for much of the past decade, with the tech giant claiming to have been oversold on the value of Autonomy when they purchased it for over £8 billion. This escalated in 2021, when Lynch lost a fight against extradition to the United States for criminal fraud charges.
And yet, in a surprising victory in June this year, Lynch beat the potential 20-year prison sentence and was found not guilty on all charges by a California jury. But despite beating decades in a US prison, an expensive civil trial in the UK High Court still hung over him.
HPE said in a statement: “In 2022, an English High Court judge ruled that HPE had substantially succeeded in its civil fraud claims against Dr Lynch and Mr Hussain."
The statement continued: “A damages hearing was held in February 2024 and the judge’s decision regarding damages due to HPE will arrive in due course. It is HPE’s intention to follow the proceedings through to their conclusion.”
The Bayesian yacht tragedy also claimed the lives of Lynch's 18-year-old daughter Hannah, Morgan Stanley International chairman Jonathan Bloomer and wife Judy, Lynch's lawyer Chris Morvillo and wife Neda, and the yacht's chef Recaldo Thomas. The first post-mortems on Chris and Neda Morvillo found the cause of death to be drowning, AP reports.
Fifteen individuals miraculously escaped the rapidly sinking yacht, with crewmate Matthew Griffiths recalling the harrowing ordeal this week: "I woke up the captain when the wind was at 20 knots (23 mph). He gave orders to wake everyone else. The ship tilted and we were thrown into the water.
"Then we managed to get back up and tried to rescue those we could."
