Estate of tycoon who died in luxury yacht tragedy ordered to pay billions to Silicon Valley giant
A High Court judge ruled that Hewlett Packard is owed almost £740 million over the fraudulent sale of Lynch's software business Autonomy in 2011.
The ruling comes 11 months after Lynch and his daughter Hannah died in a freak storm that sank his Bayesian superyacht.
The decision means the software boss would be expected to pass nothing to his widow and surviving daughter, unless the ruling is successfully appealed. His widow, Angela Bacares, has her own assets that are legally separate from her late husband's estate and will not be affected by the ruling.
Bacares's stake in technology company Darktrace was worth more than £127 million before the business's sale last year, even after she had sold hundreds of millions of pounds of shares.
Lynch sold Autonomy to HP for £7 billion in what was the biggest ever acquisition of a British technology company, but the Silicon Valley giant later accused him of fraud and sued him in the High Court.
Loading
He was found liable in 2022, but the long-running case was thrown into limbo by his death off the coast of Sicily in August last year. Lynch, 59, and Hannah were among seven who died when the Bayesian capsized.
The software entrepreneur had been on holiday to celebrate his acquittal in a criminal trial linked to the disastrous sale of Autonomy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
West Australian
7 hours ago
- West Australian
Rival protests face off outside London migrant hotel
Anti-immigrant and anti-racism demonstrators faced off in London in the latest in a series of protests outside hotels housing asylum-seekers. Several hundred protesters waving Union Jacks gathered outside the Thistle City Barbican Hotel in central London, calling for it to stop housing migrants. Chants including "scum" and "Britain is full" were directed at the hotel. Police separated the demonstrators from a larger group of counter-protesters chanting "refugees are welcome here," as people inside the hotel watched from windows. Protests against migrants have taken place in recent weeks in Epping, a town on the outskirts of London where an asylum-seeker was accused of sexual assault, and in a smattering of other towns in England. Protesters say they are concerned about the safety risk posed by the migrants, many of them young men who have recently arrived in Britain in dinghies across the English Channel. The demonstrations have drawn local people, but have also been attended, and in some cases organised, by far-right groups. The protests come a year after several days of anti-immigrant rioting across England and Northern Ireland. Crowds in more than two dozen towns attacked hotels housing migrants, as well as mosques, police stations and a library. Some rioters targeted non-white people and threw bricks and fireworks at police. The summer 2024 violence was sparked when three girls were stabbed to death at a summer dance class in the town of Southport, and online misinformation identified the attacker as a recently arrived migrant. In fact, killer Axel Rudakubana was a British-born 17-year-old. Experts and community groups warn that the mix of anger, fear, misinformation and political agitating that fuelled that violence could erupt again, though protests this summer have been small and largely peaceful.
The Advertiser
7 hours ago
- The Advertiser
Rival protests face off outside London migrant hotel
Anti-immigrant and anti-racism demonstrators faced off in London in the latest in a series of protests outside hotels housing asylum-seekers. Several hundred protesters waving Union Jacks gathered outside the Thistle City Barbican Hotel in central London, calling for it to stop housing migrants. Chants including "scum" and "Britain is full" were directed at the hotel. Police separated the demonstrators from a larger group of counter-protesters chanting "refugees are welcome here," as people inside the hotel watched from windows. Protests against migrants have taken place in recent weeks in Epping, a town on the outskirts of London where an asylum-seeker was accused of sexual assault, and in a smattering of other towns in England. Protesters say they are concerned about the safety risk posed by the migrants, many of them young men who have recently arrived in Britain in dinghies across the English Channel. The demonstrations have drawn local people, but have also been attended, and in some cases organised, by far-right groups. The protests come a year after several days of anti-immigrant rioting across England and Northern Ireland. Crowds in more than two dozen towns attacked hotels housing migrants, as well as mosques, police stations and a library. Some rioters targeted non-white people and threw bricks and fireworks at police. The summer 2024 violence was sparked when three girls were stabbed to death at a summer dance class in the town of Southport, and online misinformation identified the attacker as a recently arrived migrant. In fact, killer Axel Rudakubana was a British-born 17-year-old. Experts and community groups warn that the mix of anger, fear, misinformation and political agitating that fuelled that violence could erupt again, though protests this summer have been small and largely peaceful. Anti-immigrant and anti-racism demonstrators faced off in London in the latest in a series of protests outside hotels housing asylum-seekers. Several hundred protesters waving Union Jacks gathered outside the Thistle City Barbican Hotel in central London, calling for it to stop housing migrants. Chants including "scum" and "Britain is full" were directed at the hotel. Police separated the demonstrators from a larger group of counter-protesters chanting "refugees are welcome here," as people inside the hotel watched from windows. Protests against migrants have taken place in recent weeks in Epping, a town on the outskirts of London where an asylum-seeker was accused of sexual assault, and in a smattering of other towns in England. Protesters say they are concerned about the safety risk posed by the migrants, many of them young men who have recently arrived in Britain in dinghies across the English Channel. The demonstrations have drawn local people, but have also been attended, and in some cases organised, by far-right groups. The protests come a year after several days of anti-immigrant rioting across England and Northern Ireland. Crowds in more than two dozen towns attacked hotels housing migrants, as well as mosques, police stations and a library. Some rioters targeted non-white people and threw bricks and fireworks at police. The summer 2024 violence was sparked when three girls were stabbed to death at a summer dance class in the town of Southport, and online misinformation identified the attacker as a recently arrived migrant. In fact, killer Axel Rudakubana was a British-born 17-year-old. Experts and community groups warn that the mix of anger, fear, misinformation and political agitating that fuelled that violence could erupt again, though protests this summer have been small and largely peaceful. Anti-immigrant and anti-racism demonstrators faced off in London in the latest in a series of protests outside hotels housing asylum-seekers. Several hundred protesters waving Union Jacks gathered outside the Thistle City Barbican Hotel in central London, calling for it to stop housing migrants. Chants including "scum" and "Britain is full" were directed at the hotel. Police separated the demonstrators from a larger group of counter-protesters chanting "refugees are welcome here," as people inside the hotel watched from windows. Protests against migrants have taken place in recent weeks in Epping, a town on the outskirts of London where an asylum-seeker was accused of sexual assault, and in a smattering of other towns in England. Protesters say they are concerned about the safety risk posed by the migrants, many of them young men who have recently arrived in Britain in dinghies across the English Channel. The demonstrations have drawn local people, but have also been attended, and in some cases organised, by far-right groups. The protests come a year after several days of anti-immigrant rioting across England and Northern Ireland. Crowds in more than two dozen towns attacked hotels housing migrants, as well as mosques, police stations and a library. Some rioters targeted non-white people and threw bricks and fireworks at police. The summer 2024 violence was sparked when three girls were stabbed to death at a summer dance class in the town of Southport, and online misinformation identified the attacker as a recently arrived migrant. In fact, killer Axel Rudakubana was a British-born 17-year-old. Experts and community groups warn that the mix of anger, fear, misinformation and political agitating that fuelled that violence could erupt again, though protests this summer have been small and largely peaceful. Anti-immigrant and anti-racism demonstrators faced off in London in the latest in a series of protests outside hotels housing asylum-seekers. Several hundred protesters waving Union Jacks gathered outside the Thistle City Barbican Hotel in central London, calling for it to stop housing migrants. Chants including "scum" and "Britain is full" were directed at the hotel. Police separated the demonstrators from a larger group of counter-protesters chanting "refugees are welcome here," as people inside the hotel watched from windows. Protests against migrants have taken place in recent weeks in Epping, a town on the outskirts of London where an asylum-seeker was accused of sexual assault, and in a smattering of other towns in England. Protesters say they are concerned about the safety risk posed by the migrants, many of them young men who have recently arrived in Britain in dinghies across the English Channel. The demonstrations have drawn local people, but have also been attended, and in some cases organised, by far-right groups. The protests come a year after several days of anti-immigrant rioting across England and Northern Ireland. Crowds in more than two dozen towns attacked hotels housing migrants, as well as mosques, police stations and a library. Some rioters targeted non-white people and threw bricks and fireworks at police. The summer 2024 violence was sparked when three girls were stabbed to death at a summer dance class in the town of Southport, and online misinformation identified the attacker as a recently arrived migrant. In fact, killer Axel Rudakubana was a British-born 17-year-old. Experts and community groups warn that the mix of anger, fear, misinformation and political agitating that fuelled that violence could erupt again, though protests this summer have been small and largely peaceful.
Courier-Mail
7 hours ago
- Courier-Mail
Bombshell book claims Jeffrey Epstein called Prince Andrew a ‘serial sex addict'
Don't miss out on the headlines from Royals. Followed categories will be added to My News. Prince Andrew has been branded a 'serial sex addict' in a bombshell new book — with Jeffrey Epstein reportedly claiming the Duke of York was even kinkier than him. The shocking allegations appear in 'Entitled: The Rise and Fall of the House of York', which the British royal reportedly tried to block, The Sun reports. According to the Daily Mail, late pedophile financier Epstein is quoted in the book as saying: 'We are both serial sex addicts. 'From the reports I've got back from the women we've shared, he's the most perverted animal in the bedroom. 'He likes to engage in stuff that's even kinky to me – and I'm the king of kink!' The explosive revelations come alongside fresh allegations about Andrew's conduct on royal tours. Never miss the latest entertainment news from Australia and around the world — download the app direct to your phone. Britain's Prince Andrew, Duke of York attends the Sunday service at the Royal Chapel of All Saints in Windsor, England. Picture: Steve Parsons / AFP. A Reuters correspondent reported that, during the King of Thailand's diamond jubilee celebrations in 2006, more than 40 women were taken to Andrew's Bangkok hotel room. 'Often, as soon as one left, another would arrive,' the reporter said. Hotel staff were reportedly stunned that 'more than 10 a day' were going to the Duke's suite. The exposé portrays the 64-year-old royal as a man consumed by sex, with claims from an investigative journalist that he has bedded over a thousand women, ranging from porn stars and actresses to palace staff and bartenders. One 20-year-old model, who says she twice slept with Andrew before being whisked to Mustique, recalled: 'He wanted me to engage in kinky sexual activity. 'He had no boundaries. He told me he had an open marriage arrangement with his wife. 'After returning to London, I never heard from him again. I felt like he used me for a few days, so he could live his wildest fantasies.' Jeffrey Epstein poses for a sex offender mugshot after being charged with procuring a minor for prostitution on July 25, 2013 in Florida. Picture: Getty Images. Britain's Prince Andrew, Duke of York, in Sandringham, Norfolk, in the east of England, on December 25, 2012. Picture: AFP. Masseuse Emma Gruenbaum, who worked on him at Royal Lodge, alleged Andrew was a 'constant sex pest,' insisting on being naked for massages and making crude remarks. 'That's just not normal behaviour for a professional sports therapy session,' she said. The book also recounts disturbing tales from palace insiders. One former staff member claimed: 'When I started, I was warned to stay away from him. 'He would sometimes enter the staff quarters. 'It seemed everyone was aware of his behaviour, but little was done about it.' From his 'Randy Andy' schoolboy reputation to being accused of bullying aides and humiliating women at society events, Andrew is painted as both sex-obsessed and arrogant. Aides alleged he once had an employee moved because of a mole on his face, while another was sidelined for wearing a nylon tie. The York family reportedly tried to block the book, warning contacts not to co-operate and enlisting the Foreign Office to discourage diplomats from speaking. Despite legal threats, the exposé has gone to print — leaving Andrew once again at the centre of a scandal. Melania Trump, Prince Andrew, Gwendolyn Beck and Jeffrey Epstein at a party at the Mar-a-Lago club, Palm Beach, Florida, February 12, 2000. Picture: Getty Images. It comes as a top lawyer warned that Andrew may not be in the clear despite the FBI dropping its probe into his ties with Jeffrey Epstein. Spencer Kuvin, who has represented five of Epstein's alleged victims, said the Duke of York, 65, still has reason to worry after six years of avoiding travel abroad for fear of arrest. 'I still don't think Andrew can sleep soundly,' Mr Kuvin said. 'With the quick change of administration or new leadership at the Department of Justice, the investigation could be reopened or continued. 'Andrew needs to visit the US to answer questions from the FBI. Avoiding this merely makes people think he's guilty.' Andrew has always denied claims by Virginia Giuffre that he abused her when she was 17, insisting he never saw or suspected Epstein's crimes. Giuffre died in Australia in April at the age of 41. There is no statute of limitations for federal sex crimes in the US, meaning allegations could be revived at any time. Andrew has not set foot in America since meeting Epstein in New York in 2010. This article originally appeared on The Sun and was reproduced with permission Originally published as Bombshell book claims Jeffrey Epstein called Prince Andrew a 'serial sex addict'
