Overview
- Hewlett Packard Enterprise told London’s High Court it is claiming $1.79 billion from Mike Lynch’s estate, a figure that includes prior settlements and about $761 million in interest.
- The current hearing is focused on fixing the final award and costs after earlier findings that HP’s losses were nearly £698 million.
- Lawyers for the estate are seeking permission to appeal on legal standing, valuation methodology and currency, while calling the interest demand excessive.
- HP has also filed a separate action asserting the estate may be insolvent, and it is seeking roughly £113 million in costs after spending almost £150 million on the case.
- The civil proceedings follow the court’s findings of manipulation at Autonomy, HP’s $8.8 billion write-down, the U.S. conviction of ex-CFO Sushovan Hussain with a £77 million settlement, and Lynch’s U.S. acquittal before his death in a yacht sinking off Sicily.