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Fraudster's Estate Fights $1.7bn Claim After Yacht Sinks
19 Nov
Summary
- Lynch's estate faces a $1.7bn claim post-yacht sinking, including interest.
- HPE incurred approximately £700m in losses from the Autonomy purchase.
- Mr. Lynch faced criminal charges and was acquitted just before his yacht sank.
A London hearing is underway to determine if Mr. Lynch's estate can appeal court rulings regarding a substantial financial claim following the sinking of his yacht off Sicily last August. Mr. Lynch was among seven who died when the vessel capsized during a storm.
HPE, formerly part of Hewlett Packard, claims losses of around £700m from its purchase of Autonomy. The estate is being pursued for $1.7bn, a sum that includes significant interest, which the estate's lawyers describe as excessive and based on flawed analysis.
This ongoing dispute follows Mr. Lynch's extradition to the US in 2023 for fraud charges, of which he was acquitted in 2024. His estate asserts that HPE's claim is oversimplified and that the judge erred in law, warranting an appeal hearing.
