Hewlett Packard Enterprise (HPE) has confirmed its intention to continue pursuing a claim for up to £3 billion in damages against the estate of tech tycoon Mike Lynch following his death in a superyacht disaster last month.
The US tech giant previously won a civil case in the UK High Court against Mr. Lynch in 2022, alleging that he and his former finance director, Sushovan Hussain, committed fraud during HPE’s $11 billion (£8.37 billion) acquisition of his software company, Autonomy, in 2011.
HPE is seeking up to $4 billion (£3 billion) in damages, with a final ruling on the amount expected soon.
Mr. Lynch, who had been acquitted in a separate criminal fraud trial related to the Autonomy case in the US in June, died along with his 18-year-old daughter, Hannah, and five others when the superyacht Bayesian sank off the coast of Sicily last month.
Following his death, his widow, Angela Bacares, may now be held liable for the damages claim in London.
HPE stated: “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 the damages owed to HPE is expected in due course.
“It is HPE’s intention to see the proceedings through to their conclusion.”
The judge in the UK civil case has already indicated that the amount awarded would be “substantially less” than what HPE originally sought, leading to questions about the company’s motivation for continuing with the claim after the superyacht tragedy.
The yacht trip had been organized to celebrate Mr. Lynch’s acquittal in the fraud case.
You have to feel for Mr Lynch widow and HPE managments team lack of compassion.
