HP Pursues Lynch Estate for $1.2B

0:00It's April 16th, Sydney News. Today starts now, AI-powered and ready. I'm Cory with the story. Hewlett-Packard is gunning for the estate of the late Mike Lynch to call back 920 million pounds in damages. They're asking a UK high court judge to put administrators in charge who can dig deep into his assets, including deals with his widow, Angela Bacaris. This all ties back to HP's $11 billion takeover of Lynch's software firm Autonomy in 2011. A judge ruled last March that Lynch pumped up sales figures with sketchy accounting tricks to juice the price. Lynch, the tech whiz, some called Britain's Bill Gates, died at 59 last August when his super yacht Bayesian flipped in a wild storm off Sicily. His teenage daughter Hannah and five others perished too, but Bacaris made it out alive. She holds major holdings like a 300 million pound slice of cyber security outfit Dark Trace. Now HP wants their pick, into path advisory, to probe if Lynch shuffled assets to dodge

1:03the payout, maybe even reversing dodgy transfers. Bacaris is pushing her choice, Jeremy Sandelson, a longtime family lawyer, but HP calls that a straight conflict of interest. Court arguments heated up this week over who runs the show, with the estate also appealing the whole fraud verdict. As HP presses on, this estate battle could reshape how they chased that billion dollar win.