The builder of the superyacht Bayesian, on which British expertise entrepreneur Mike Lynch died, has launched a £400 million authorized declare in opposition to his widow, alleging that the tragedy brought about a catastrophic collapse in its gross sales.
The Italian Sea Group (TISG) has filed a €456 million (£399 million) lawsuit in a Sicilian courtroom, claiming that the yacht’s crew and the vessel’s holding firm had been accountable for the sinking and the ensuing harm to the corporate’s popularity and revenues.
Lynch, the previous chief government of Autonomy, died alongside his teenage daughter Hannah and 5 others when the £30 million superyacht capsized throughout a violent storm off the coast of Sicily in August 2024. His spouse, Angela Bacares Lynch, survived the incident and is the authorized proprietor of Revtom, the Isle of Man-registered firm that owned the vessel.
In keeping with the declare TISG alleges that the crew’s “incompetence and negligence” led to the vessel capsizing, and that the corporate has since misplaced a whole bunch of tens of millions of euros in potential yacht gross sales after being blamed for the catastrophe.
The lawsuit has been filed by TISG and GC Holding Firm, owned by Italian yachting entrepreneur Giovanni Costantino, in a courtroom in Termini Imerese, close to the positioning of the sinking. It names Revtom, the yacht’s captain James Cutfield, and crew members Timothy Eaton and Matthew Griffiths as defendants.
The declare argues that the Bayesian was “unsinkable” however that the crew did not shut hatches, heed climate warnings or decrease the vessel’s keel, inflicting it to capsize in excessive winds. It additional alleges that Revtom is legally answerable for the actions of these working the yacht.
The allegations distinction sharply with findings from the UK’s Marine Accident Investigation Department, which final 12 months mentioned the superyacht had “vulnerabilities” that weren’t recognized to the crew. The vessel, inbuilt 2008 beneath the Perini Navi model, featured one of many tallest masts on the earth.
A supply near the Lynch household strongly rejected TISG’s claims, describing the lawsuit as “determined, opportunistic and in dangerous religion”.
“The UK investigation has raised severe and unresolved questions concerning the yacht’s design, stability and working traits,” the supply mentioned. “This motion seems designed to distract from these points, nevertheless it won’t stop correct scrutiny of how the vessel was designed, permitted and constructed.”
TISG claims the fallout from the sinking has been financially devastating. The corporate mentioned it has been unable to promote a single Perini-branded yacht for the reason that incident, with expressions of curiosity from brokers and potential consumers drying up totally. It additionally claims the tragedy has triggered a droop in its share worth and a collapse within the worth of the Perini Navi model, which TISG acquired out of chapter in 2021.
Earlier than the catastrophe, the group mentioned it had deliberate to promote near €1 billion price of yachts by 2028.
Ms Bacares Lynch declined to touch upon the lawsuit. TISG didn’t reply to requests for remark, and the captain and crew members named within the declare couldn’t be reached. Italian prosecutors have confirmed that members of the crew are beneath felony investigation.
Lynch based Cambridge-based software program agency Autonomy, which was bought to Hewlett-Packard for £7 billion in 2011. He was later charged with fraud by US prosecutors however was acquitted in 2024. He was celebrating his authorized victory with household and associates on board the Bayesian on the time of the sinking.
Individually, Lynch’s property is dealing with a significant civil declare within the UK from Hewlett-Packard, which is in search of £1.5 billion in damages linked to the Autonomy acquisition. TISG additionally sued The New York Occasions final 12 months following a report that raised questions concerning the yacht’s design.
