Hewlett Packard to pursue Mike Lynch’s estate in £3 billion damages claim

Hewlett Packard Enterprise (HPE) has confirmed it plans to continue with its claim for up to £3 billion in damages against the estate of tech tycoon Mike Lynch after his death in last month’s superyacht disaster.

The US tech giant won a UK High Court civil claim against Mr Lynch in 2022, accusing him and his former finance director, Sushovan Hussain, of fraud over its 11 billion dollar (£8.37 billion) takeover of his software company Autonomy in 2011.

US firm HPE is seeking damages of up to 4 billion US dollars (£3 billion), with the judge set to rule on the final sum soon.

Mr Lynch, who was cleared in a separate criminal fraud trial over the Autonomy case in the US in June, and his 18-year-old daughter Hannah were among seven people who died after the Bayesian superyacht sank off the coast of Sicily last month.

His death means his widow, Angela Bacares, could now be liable for the damages claim in London.

HPE said: “In 2022, an English High Court judge ruled that HPE had substantially succeeded in its civil fraud claims against Dr Lynch and Mr Hussain.

“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 judge in the UK civil case has already ruled the amount payable in damages would be “substantially less” than HPE had sought, which raised questions over HPE’s reasoning for pursuing the claim after the superyacht tragedy.

The Bayesian, a 56-metre British-flagged luxury yacht, went down near Sicily, in the Mediterranean on August 19.

It is thought that the yacht may have been struck by a “downburst” – a localised, 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.

Ms Bacares was among those who survived the disaster.

Morgan Stanley International bank chairman Jonathan Bloomer, his wife Judy Bloomer, Clifford Chance lawyer Chris Morvillo and his wife Neda Morvillo, were also among those who died in the tragedy.

A post-mortem examination carried out by coroners in Palermo, revealed the cause of death of Mr Morvillo and his wife Neda was drowning, the Associated Press reported.

Further post-mortems are planned Wednesday on the bodies of Jonathan Bloomer, and his wife, Judy.

They are pending for the remaining three victims, Mr Lynch, his 18-year-old daughter Hannah and the yacht’s cook, Recaldo Thomas.

Of the 22 passengers and crew on board, 15 were rescued after escaping onto a lifeboat.

The boat trip was a celebration of Mr Lynch’s acquittal in the fraud case.