Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Tech giant to pursue £3bn claim against Mike Lynch’s family after yacht death

Hewlett Packard Enterprise is due to receive damages after winning a civil case against Dr Lynch in the UK’s High Court

Holly Evans
Monday 02 September 2024 12:38 EDT
Comments
British technology tycoon Mike Lynch (Yui Mok/PA)
British technology tycoon Mike Lynch (Yui Mok/PA) (PA Wire)

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

An American technology company says it will continue to pursue £3bn worth of damages against Mike Lynch’s estate, despite his recent death in a superyacht disaster.

Hewlett Packard Enterprise (HPE) won the multi-billion-pound High Court claim against the British tech tycoon in 2022, over fraud claims involving the sale of Dr Lynch’s firm Autonomy in 2011.

However, his death aboard the Bayesian yacht, which sank during a freak storm on 19 August off the coast of Sicily, means that his family could be liable for the payout.

In a statement, 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.

Dr Lynch died alongside his 18-year-old daughter Hannah
Dr Lynch died alongside his 18-year-old daughter Hannah (Tancredi)

“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.”

Dr Lynch was cleared in a separate criminal trial involving the sale of Autonomy in June, with his boat trip said to be a gathering among friends, close colleagues and his legal team to celebrate his acquittal.

HPE won its civil case in the UK over claims that Dr Lynch and his company’s former finance chief, Sushovan Hussain, had inflated the revenus of the firm before the takeover.

In a hearing earlier this year, HPE said it was seeking £3bn in damages, with a judge expected to rule on it later this year.

The tycoon had invited close friends and colleagues onboard his yacht to celebrate his recent acquittal (Jonathan Brady/PA)
The tycoon had invited close friends and colleagues onboard his yacht to celebrate his recent acquittal (Jonathan Brady/PA) (PA Wire)

Dr Lynch died alongside his 18-year-old daughter Hannah and five others after his superyacht sank during the early hours of the morning in a suspected tornado.

After becoming trapped in the ship’s hull, he was killed along with Morgan Stanley chairman Jonathan Bloomer, his wife Judith, Clifford Chance lawyer Chris Morvillo, his wife Neda, and the yacht’s cheft Recaldo Thomas.

Rescuers saved 15 passengers from the water, with three of the crew members now under investigation. This includes the ship’s captain James Cutfield, who is being probed for possible manslaughter and culpable shipwreck charges.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in