LONDON. Hewlett Packard Enterprise (HPE) announced on Monday that it will continue its legal battle for damages against the estate of British tech mogul Mike Lynch, who tragically died when his superyacht sank off the coast of Sicily last month.
The claim stems from HPE’s 2011 acquisition of Autonomy, a software company founded by Lynch. In 2022, Britain’s High Court largely sided with HPE, which accused Lynch and his former finance director, Sushovan Hussain, of fraud in the $11 billion deal. HPE is now seeking up to $4 billion in damages, with a final ruling on the sum expected soon.
Lynch’s death on August 19 occurred when his 56-meter luxury yacht, the Bayesian, went down during a storm. Six people, including Lynch and his daughter Hannah, perished in the disaster. Fifteen others, including some crew members, survived. The group had gathered on the yacht to celebrate Lynch’s recent acquittal in a separate U.S. criminal trial where he faced fraud and conspiracy charges related to the same deal.
HPE stated that it had “substantially succeeded” in its civil fraud claims against Lynch and Hussain. “It is HPE’s intention to follow the proceedings through to their conclusion,” the company said.
Despite HPE’s pursuit, the judge in the U.K. civil case has indicated that the damages awarded will likely be “substantially less” than the $4 billion sought by the company.
The tragic sinking of the Bayesian was initially attributed to a waterspout, a type of tornado over water, but was later reclassified as a downburst. Italian prosecutors are investigating the yacht’s captain on possible charges of manslaughter.
Lynch’s widow, Angela Bacares, may now be liable for the damages, though a spokesperson for the Lynch family has declined to comment on the matter.
Gary P Hernal started college at UP Diliman and received his BA in Economics from San Sebastian College, Manila, and Masters in Information Systems Management from Keller Graduate School of Management of DeVry University in Oak Brook, IL. He has 25 years of copy editing and management experience at Thomson West, a subsidiary of Thomson Reuters.
