Hewlett Packard Enterprise announced on Monday that they will continue to pursue their claim for damages in the U.K. against the estate of British tech magnate Mike Lynch, who tragically perished when his superyacht sank last month. The U.S. technology company had accused Lynch and his ex-finance director of fraudulent activities related to the $11 billion acquisition of his software firm Autonomy, with Hewlett Packard seeking damages of up to $4 billion from the estate. A final decision on the sum is expected to be handed down by the judge soon after the High Court ruling in 2022 favored the technology company’s claims.
Lynch lost his life when his yacht, the Bayesian, sank during a storm off Sicily on August 19, leaving his widow, Angela Bacares, potentially liable for the sought damages. Prior to the incident, Lynch had been acquitted in a U.S. criminal trial of fraud and conspiracy charges tied to the Autonomy deal. Hewlett Packard expressed remorse over the acquisition of Lynch’s company in 2011, which had initially seemed promising but ultimately soured. The company stated their satisfaction with the progress of their civil fraud case against Lynch and his former finance director, Sushovan Hussain, declaring their intention to see the legal process through to its conclusion.
Despite the U.K. judge indicating that the damages payable would likely be significantly lower than the sought amount, Hewlett Packard remains steadfast in their pursuit of justice. Lynch’s family declined to provide any comment on the matter, following the tragic loss of Lynch and his daughter Hannah, along with four other passengers, in the yacht sinking. The sole crew fatality was the boat’s chef, while 15 individuals survived the ordeal, having been on board to commemorate Lynch’s acquittal. Initial reports suggested the vessel was struck by a waterspout, prompting Italian prosecutors to investigate the captain for potential charges, including manslaughter.
