Italy - Sailing yacht sank off Italian coast, 15 rescued, 7 dead, 19 August 2024

[IQuestion]

Wow...after finally being cleared of fraud charges and spending13 months under house arrest (thousands of miles away from his home in England) he was only able to have 74 days of freedom
with his family before his death. His wife lost her husband and youngest daughter on the same day.
His banker, attorney and their spouses also died on the same day, same ship.
His former business partner was killed (in an accident "auto vs jogger" ...insert eyeroll, uh huh?) the same weekend. Blessed with so much...cursed by unimagined tragedy. If I wrote a book about it, critics would pan the plot as overly tragic and unbelievable.
Putting assets in his wife's name....a mega yacht.. now worthless. Although insured, proceeds will be paid out to survivors and victim's families.
Pretty sure there will NEVER be any lasting financial hardships and assets are protected:
And about that, Lynch, who advises and is an investor in several tech start-ups, is not worried. “My wife has been very good at investing in the things that I’ve told her to from a point of view of technology.
The Final Interview (amazing information, imo)
Mike Lynch: Flown to the US in chains, now he is free … and talking.

 

[Kittypoo]

Wow...after finally being cleared of fraud charges and spending13 months under house arrest (thousands of miles away from his home in England) he was only able to have 74 days of freedom
with his family before his death. His wife lost her husband and youngest daughter on the same day.
His banker, attorney and their spouses also died on the same day, same ship.
His former business partner was killed (in an accident "auto vs jogger" ...insert eyeroll, uh huh?) the same weekend. Blessed with so much...cursed by unimagined tragedy. If I wrote a book about it, critics would pan the plot as overly tragic and unbelievable.
Putting assets in his wife's name....a mega yacht.. now worthless. Although insured, proceeds will be paid out to survivors and victim's families.
Pretty sure there will NEVER be any lasting financial hardships and assets are protected:
And about that, Lynch, who advises and is an investor in several tech start-ups, is not worried. “My wife has been very good at investing in the things that I’ve told her to from a point of view of technology.
The Final Interview (amazing information, imo)
Mike Lynch: Flown to the US in chains, now he is free … and talking.

Ugh final interview behind a paywall

 

[PrairieWind]

Widow of British billionaire killed in Bayesian superyacht sinking faces bankruptcy after estate ordered to pay $1.2B fraud lawsuit

Widow of British billionaire killed in Bayesian superyacht sinking faces bankruptcy after estate ordered to pay $1.2B fraud lawsuit

Lynch, 59, was killed alongside his teen daughter, Hannah, and five others when his superyacht, Bayesian, sank on Aug. 19, 2024.

nypost.com

I have thought about this a bit. I assume this bankruptcy would be in the UK? Not sure. If so, I don't know how UK bankruptcy works. I do some BK work in the US, but I don't know what goes on in UK. I would assume that wife held some assets in her own capacity or in trust that may not be subject to those creditor claims, but I don't know, again because there are international aspects to this case. I believe the suit by the yacht builders listers her as a defendant individually. No doubt that lawyers will be the big winners here.

 

[Dotta]

https://twitter.com/x/status/2044692765011779988