The estate of the British tycoon killed when his luxury superyacht sank off the coast of Sicily was ordered to pay over $1.2 billion stemming from a 2015 lawsuit, a ruling that could drag his widow into a devastating bankruptcy.
American tech giant Hewlett-Packard (HP) was handed the 10-figure award after it successfully won its case seeking to recoup from its losses in the 2011 acquisition of Mike Lynch’s software firm, Autonomy, he was accused of fraudulently manipulating before the sale, London’s High Court ruled Tuesday.
Lynch, 59, was killed alongside his teen daughter, Hannah, and five others when his superyacht, Bayesian, sank on Aug. 19, 2024.
The late CEO — once dubbed Britain’s Bill Gates — left his widow, Angela Bacares, with his estate, estimated at $669 million, along with financial and legal headaches after his death.
Source: Bayesian superyacht owner Mike Lynch’s widow faces bankruptcy after fraud lawsuit