Hewlett-Packard Enterprise (HPE) could pursue the widow of British tech tycoon Mike Lynch for up to £3billion after his death in the Bayesian superyacht disaster.
The US firm won a multi-billion-pound UK High Court claim against Dr Lynch in 2022, accusing him of fraud over its £8billion purchase of his company Autonomy in 2011.
His death on August 19, when his £30million vessel sank during a freak storm off the coast of Sicily, means his family could be liable for any payout decided by the judge.
And HPE is now expected to continue its case against his widow Angela Bacares for money stemming from the ruling – despite the likely negative press for the firm.
Dr Lynch, 59, who was cleared in a separate criminal trial over the Autonomy case in the US in June, died on the yacht with his 18-year-old daughter Hannah on August 19.
Now, HPE has confirmed it will continue with its legal case, with a spokesman telling The Sunday Times: ‘In 2022, an English High Court judge ruled that HPE had substantially succeeded in its civil fraud claims against Dr Lynch and Mr Hussain.
Mike Lynch with his wife Angela Bacares, who managed to escape from the disaster off Sicily
Hannah Lynch with her father Mike Lynch. Both died in the sinking of his superyacht last month
Hewlett-Packard Enterprise has now confirmed it will continue with its legal case
‘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.’
Just one week ago, a spokesman for HPE was asked by the Daily Mail whether it would rule out pursuing Dr Lynch’s estate for damages, but said: ‘We do not think it appropriate to comment on legal matters in these tragic circumstances.’
MailOnline contacted HPE today to confirm its latest stance on the matter.
Last week friends of Dr Lynch, including Conservative MP Sir David Davis, called for HPE to drop the claim. One said it would be a ‘terrible shame’ for it to continue.
HPE won its civil case over claims that Dr Lynch and Autonomy’s former finance chief, Sushovan Hussain, inflated the revenues of the Cambridge-based business before the takeover.
The US firm initially sought £4billion in damages though Mr Justice Hildyard ruled the amount would be ‘substantially less’. It is thought to have spent more than £50million on legal fees.
A fire service dive team leaves Porticello, heading to the rescue site in Sicily on August 23
The Bayesian (file picture) sank on August 19 off the coast of Sicily amid severe stormy weather
At a hearing earlier this year to discuss the level of the payout, HPE said it was still seeking £3billion. It had sales of £22billion last year and profits of £1.5 billion.
The corporate hardware and services business is separate from computer and printer maker HP Inc after a split in 2015.
The judge is expected to rule on damages before the end of the year.
A source close to the case said: ‘It is with the judge. We are waiting to hear from him. There is no decision to be made until he makes his decision.’
Tory grandee Sir David said given that the judge ruled that the sum awarded to HP would be ‘a lot smaller than they were claiming’, the company should drop the case.
‘I would think the wise thing for Hewlett-Packard to do in their own interest is to drop the case because they are not going to make a great deal of money out of it but they are going to make themselves very unpopular with the ordinary members of the public, picking on a bereaved family.’
Banking boss Jonathan Bloomer and his wife Judy died in the superyacht disaster on August 19
Clifford Chance lawyer Chris Morvillo and his wife Neda Morvillo were also among the dead
The body of chef Recaldo Thomas was discovered on the day of the sinking last month
The former Cabinet minister – who supported Dr Lynch in his battle against extradition to the US – said he had lunch with the entrepreneur just three weeks ago, following his acquittal, and they were due to meet again soon.
Seven people were killed in the Bayesian disaster – and which the ship’s captain, New Zealander James Cutfield, was the first crew member to be put under investigation for possible manslaughter and culpable shipwreck charges.
Tim Parker Eaton, the engineer who was in charge of securing the yacht’s engine room, and sailor Matthew Griffith, who was on watch duty on the night of the disaster, were also the placed under investigation for the same possible charges last Wednesday.
The three crew members were among 15 survivors of the sinking of the Bayesian, a 56-metre British-flagged luxury yacht, which went down near Sicily in the Mediterranean.
Investigators are focusing on how a sailing vessel deemed ‘unsinkable’ by its manufacturer, Italian shipyard Perini Navi, sank while a nearby sailboat remained largely unscathed.
Prosecutors said the event was ‘extremely rapid’ and could have been a ‘downburst’ – a localized, powerful wind that descends from a thunderstorm and spreads out rapidly on hitting the ground.
All crew members survived except for the chef, but six passengers were trapped in the yacht’s hull and died.