The child of a prominent British technology magnate who perished in a yacht accident has left her grieving mother a substantial inheritance posthumously.
Mike Lynch, aged 59, and his daughter Hannah, 18, along with the onboard chef and four other guests, lost their lives when the yacht sank during an unexpected summer storm off the Sicilian coast last year.
Angela Bacares, Lynch’s devastated wife at the age of 58, recounted narrowly escaping the tragedy as she had risen from bed just before the yacht tilted, rushing to the deck to converse with the crew.
In a post-incident interview, Angela tearfully recounted the last conversation with her husband, who inquired about the time as they were awakened by the ship’s sudden movement. She informed him it was between 4:03 and 4:04 a.m. before seeking information from the captain, never imagining it would be their final interaction.
Subsequently, within moments, the yacht was hit by an intense downburst at 4:10 a.m., submerging within 16 minutes, separating Angela from her husband and daughter forever.
Shockingly, documents have revealed that Hannah left an estate exceeding £5 million following her tragic demise in the maritime catastrophe last summer with no will in place. The estate, including assets and cash totaling £5,088,449, is expected to pass to her mother, Angela, under inheritance regulations.
Angela, who is currently facing legal disputes over her late husband’s estate, may encounter legal actions from the bereaved families of the yacht victims. Furthermore, the UK’s High Court recently ruled that Lynch’s estate owes over £700 million to the US tech corporation Hewlett-Packard due to fraud allegations.
The legal battle initiated by HP six years ago, after acquiring Lynch’s firm Autonomy in 2011, accused Lynch and the former CFO of inflating the company’s value deceitfully. The High Court concluded that HP suffered significant financial loss due to misrepresented financial data during the acquisition, compelling Lynch’s estate to pay the substantial sum.
Hannah and her father met a tragic fate, trapped in an air pocket on the 184-foot superyacht when it sank off Sicily’s coast during a fierce storm with winds reaching 80mph.
Following her untimely demise, friends commemorated Hannah, a prospective Oxford University student, as a warm, brilliant, and compassionate individual, deeply missed for her sincerity and intelligence.
Lynch’s estimated estate value of approximately £500 million remains undisclosed, and the details of his will are yet to be publicized. Lynch was acquitted of US fraud charges weeks before his demise, though a subsequent UK civil fraud trial ruled in favor of HP, ordering his estate to repay nearly £700 million, raising concerns about Bacares’ financial future.
