{"id":29660,"date":"2025-07-24T07:07:22","date_gmt":"2025-07-24T11:07:22","guid":{"rendered":"https:\/\/worldjusticenews.com\/news\/?p=29660"},"modified":"2025-07-24T07:07:22","modified_gmt":"2025-07-24T11:07:22","slug":"the-estate-of-tech-tycoon-mike-lynch-who-died-when-his-yacht-sank-and-his-business-partner-owe-hp-enterprise-700m","status":"publish","type":"post","link":"https:\/\/worldjusticenews.com\/news\/2025\/07\/24\/the-estate-of-tech-tycoon-mike-lynch-who-died-when-his-yacht-sank-and-his-business-partner-owe-hp-enterprise-700m\/","title":{"rendered":"The estate of tech tycoon Mike Lynch who died when his yacht sank and his business partner owe HP Enterprise \u00a3700m"},"content":{"rendered":"
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The estate of tech tycoon Mike Lynch – who died last year when his yacht sank – and his business partner owe tech giant Hewlett Packard Enterprise (HPE) \u00a3700m, the High Court has ruled.<\/b><\/p>\n

HPE bought Lynch’s tech firm Autonomy in 2011, but it says Lynch and Autonomy’s former chief financial officer, Sushovan Hussain, misrepresented the company’s finances.<\/p>\n

The court ruled that HPE had paid more than it would have done “had Autonomy’s true financial position been correctly presented” during the sale.<\/p>\n

A spokesperson said Lynch had prepared a statement on the ruling last year, calling HP’s initial claim for up to $5bn (\u00a33.7bn) a “wild overstatement”.<\/p>\n<\/div>\n<\/div>\n

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Lynch and his teenage daughter Hannah\u00a0were among seven passengers and crew who died<\/a>\u00a0when the Bayesian went down off the coast of Sicily last August during a storm which caused the vessel to capsize and sink.<\/p>\n

Tuesday’s ruling was delayed because of the tragedy.<\/p>\n

The judge expressed his “sorrow at this devastating turn of events, and my sympathy and deepest condolences”, adding that he “admired” Lynch despite ruling against him.<\/p>\n

In response to the ruling, HPE said it looked forward to “the further hearing at which the final amount of HPE’s damages will be determined”.<\/p>\n

The US technology giant had accused Lynch and Hussain of fraudulently inflating the value of Autonomy, which HP bought for $11.1bn in 2011 – worth \u00a37.1bn at the time.<\/p>\n

Just over a year after it acquired the business, HPE announced it was writing down the value of Autonomy by $8.8bn because it had found “serious accounting improprieties”.<\/p>\n

The two men denied the claim. Lynch said HPE had “botched the purchase of Autonomy and destroyed the company”.<\/p>\n

In a ruling in 2022, Mr Justice Hildyard said HPE had “substantially succeeded” in its claim, but that it was likely to receive “substantially less” than the $5bn it sought in damages.<\/p>\n

Source: bbc.co.uk<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The estate of tech tycoon Mike Lynch – who died last year when his yacht sank – and his business partner owe tech giant Hewlett Packard Enterprise (HPE) \u00a3700m, the High Court has ruled. HPE […]<\/a><\/div>\n","protected":false},"author":1,"featured_media":29661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[2,4],"tags":[8270,11500,11499,11498,3968,11501,9558],"class_list":{"0":"post-29660","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"category-uk","9":"tag-autonomy","10":"tag-hewlett-packard-enterprise","11":"tag-hpe","12":"tag-mike-lynch","13":"tag-sicily","14":"tag-sushovan-hussain","15":"tag-uk-high-court","16":"pmpro-has-access"},"_links":{"self":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/29660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/comments?post=29660"}],"version-history":[{"count":1,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/29660\/revisions"}],"predecessor-version":[{"id":29662,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/29660\/revisions\/29662"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/media\/29661"}],"wp:attachment":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/media?parent=29660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/categories?post=29660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/tags?post=29660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}