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Hewlett Packard to pursue suit against tech mogul Mike Lynch, who died when his yacht sank

Updated on: September 2, 2024 / 3:04 PM EDT / CBS/AP

Hewlett Packard Enterprise will pursue a lawsuit against the estate of British tech entrepreneur Mike Lynch, who died in August after his yacht sank off the coast of Sicily.

Britain's High Court in 2022 ruled mostly in favor of the U.S. technology company, which accused Lynch and his former finance director of fraud over its $11 billion takeover of his software company Autonomy. Hewlett Packard is seeking up to $4 billion in damages, and the judge is expected to issue a decision on the final sum soon.

Lynch died when his yacht, the Bayesian, sank in a storm off Sicily on Aug. 19. His widow, Angela Bacares, could now be liable for the damages. Months before the sinking, Lynch was acquitted in a separate U.S. criminal trial of fraud and conspiracy charges in the deal.

Hewlett Packard initially celebrated the costly acquisition of Lynch's company in 2011 but quickly came to regret it. The company said in a statement Monday that it had "substantially succeeded" in its civil fraud claims against Lynch and Sushovan Hussain, the former finance director.

"It is HPE's intention to follow the proceedings through to their conclusion."

However, the judge in the U.K. civil case has already ruled that the amount payable in damages would be "substantially less" than the company is seeking.

A spokesperson for Lynch's family declined to comment.

Lynch and his 18-year-old daughter Hannah were among six passengers who died when his 184-foot luxury yacht sank quickly in a storm on Aug. 19. One crew member, the boat's chef, also died, while 15 people survived the disaster. They had gathered on the yacht to celebrate Lynch's acquittal.

The incident has raised questions , as another sailboat that had been anchored nearby off the coast of Palermo made it through the storm unscathed.  Officials initially said the yacht was struck by a tornado over the water, known as a waterspout. Prosecutors in Italy are investigating the captain on possible charges including manslaughter.

The captain, engineer and a sailor aboard the yacht, called "Bayesian," were placed  investigation for possible manslaughter  in connection with the shipwreck. 

Federal authorities sought for years to extradite Lynch from the U.K. to face multiple counts of fraud and conspiracy in the U.S. related to HP's acquisition of Autonomy. 

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Local News | LoveBug yacht towed out of West River after…

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Local News | LoveBug yacht towed out of West River after overturning in July, partially sinking

Salvage vessels from Donjon Marine Co., the New Jersey-based firm that worked to raise the yacht over the last two weeks, departed from the West River with the LoveBug in tow shortly before sunrise Saturday morning, according to VesselFinder, a marine traffic site.

The fleet which included two tugs, crane barges and the yacht, passed under the Bay Bridge just after 8:30 a.m.

The LoveBug is being towed alongside the Farrell 256, a 200-foot crane barge, for safety, as the yacht is a “dead ship,” or a vessel without power, said Steven Newes, senior vice president of Donjon.

On Monday, Newes said the salvage team planned to tow the yacht north through the bay and the Chesapeake and Delaware Canal to the mouth of the Maurice River in New Jersey. Departure was expected to happen Tuesday , with delivery to a smaller vessel for transport to a shipyard along the river originally slated for Wednesday evening.

Why the salvage team’s voyage was delayed is unclear.

The vessels’ departure marks the end of several weeks of work to raise and free the submerged LoveBug from the muddy bottom of the West River. The LoveBug had settled into the mud “quite a bit,” Newes said, complicating efforts to place slings underneath the yacht to lift it.

Mud was also found inside the yacht once it was lifted, Newes said, which needed to be removed to patch the yacht and “render it safely afloat” for towing.

Until salvage crews pulled the LoveBug from the water, the yacht had remained aground in the same location between Beverly Beach and Shady Side for almost four weeks. Though the yacht was originally resting on its starboard, or right, side, it rolled some before salvage began.

The Italian-built yacht was sailing south on the Chesapeake Bay from Annapolis on July 27 when it began to tip over. The Coast Guard received a Mayday call at 12:36 p.m., but by the time crews arrived, the five people on board had been rescued by a good Samaritan and a nearby towboat. Paramedics tended to two of the passengers, according to the Anne Arundel County Fire Department, but both declined to be treated.

The LoveBug, which cost between $110,000 and $125,000 to charter for a week, was not operating as a charter when it overturned, said Hunter Dortenzo, a Natural Resources Police spokesperson.

Though VesselFinder, a marine traffic site, indicated the LoveBug is owned by Bees Honey LLC, a limited liability company based in the Marshall Islands, Federal Communications Commission records show otherwise.

The yacht’s shipboard radio station license is registered to Jabulani Charter Florida, a Florida-based limited liability company with a Rockville mailing address. The licensee should be the vessel owner, according to an FCC spokesperson. Efforts to reach the person listed as the licensee were unsuccessful.

The Natural Resources Police and the National Transportation Safety Board are conducting separate investigations into what happened to the yacht.

One tugboat tows, and another pushes the Lovebug up the Chesapeake Bay, south of the the Bay Bridge. south of the Bay Bridge. Kent Island is visible in the background. The 103-foot yacht capsized at the mouth of the West River on July 27. (Natalie Jones/Staff photo)

One tugboat tows, not pictured, and another pushes the Lovebug up the Chesapeake Bay, south of the the Bay Bridge. south of the Bay Bridge. Kent Island is visible in the background. The 103-foot yacht capsized at the mouth of the West River on July 27. (Natalie Jones/Staff photo)

One tugboat tows, and another pushes the Lovebug up the Chesapeake Bay, as goes under the Bay Bridge. The 103-foot yacht capsized at the mouth of the West River on July 27. (Jeffrey F. Bill/Staff photo)

One tugboat tows, not pictured, and another pushes the Lovebug up the Chesapeake Bay, as it approaches the Bay Bridge. The 103-foot yacht capsized at the mouth of the West River on July 27. (Jeffrey F. Bill/Staff photo)

One tugboat tows, not pictured, and another pushes the Lovebug up the Chesapeake Bay, as goes under the Bay Bridge. The 103-foot yacht capsized at the mouth of the West River on July 27. (Jeffrey F. Bill/Staff photo)

Aug. 31, 2024: One tugboat tows, another pushes the Lovebug up the Chesapeake Bay, past Sandy Point State Park. The 103-foot yacht capsized at the mouth of the West River on July 27. (Jeffrey F. Bill/Staff photo)

One tugboat tows, another pushes the Lovebug up the Chesapeake Bay, past Sandy Point State Park. The 103-foot yacht capsized at the mouth of the West River on July 27. (Jeffrey F. Bill/Staff photo)

One tugbo tows, another pushes the Lovebug up the Chesapeake Bay, past Sandy Point State Park. The 103-foot yacht capsized at the mouth of the West River on July 27. (Jeffrey F. Bill/Staff photo)

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tel. (+ 48) 87 643 17 00

(+ 48) 87 643 18 00

Żarnowo Pierwsze 9B

16-300 Augustów

balt-yacht(@)post.pl www.baltyacht.pl

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CNC Milling

BALT-YACHT is one of the largest shipyards in Poland with years of experience in producing the highest quality boats with the use of modern technologies. One of them is a 5-axis machining center MX5 from CMS with latest generation control system FANUC 31I-B5. All projects are carried out in accordance with the supplied by client 3D documentation. Milling machine process is supervised by a team of experienced engineers. The CNC department uses Autodesk software supporting the processes of designing and manufacturing CAD/CAM. Through the use of specialized software, we are able to realize even the most advanced projects for various industries, ie. the marine, automotive, aerospace and many others.

— 30 years with you —

boats produced per year

ABOUT 18 000

vessels produced since 1990

70 boat models

introduced since 1990

new boat models introduced since 2012

No other shipyard from Augustow region can’t boast itself with such a rich and distant history…

Our boats are going to almost all European countries, even to Australia and they are mainly famous for its outstanding quality. That has been always the priority for Mr. and Mrs. Kozlowski.

Now their son Marek as a Director and daughters in law: Magdalena and Irena support the company and a new generation of grandchildren are growing up to continue family tradition…

ABOUT COMPANY Since the beginning Balt-Yacht was a boat producer for the demanding, foreign customers. We are now working on implementing at least two new luxury motor-boats for our partners, and one full of innovations semi-planing boat of our own. This will be project based on many years of experience, as well as users suggestions.

Manufactured units Now Balt-Yacht is one of the biggest Polish producers, specializing in building boats from 7 to 12 meters long made from glass-polyester laminate. Since the beginning Balt-Yacht was a boat producer for the demanding foreign customers like MAR-IMPORT, Jeanneau or X-Yachts.And now most of boats produced in our shipyard- around 95 percent-is delivered to foreign customers. For many years till now our main partner is Brunswick Marine in EMEA Inc. for whom large series of Quicksilver boats are produced. For few years we have been cooperating with Norwegian contractors Cormate AS and Goldfishboat AS.

Balt-Yacht produces the following types of boats both for Polish and foreign markets:

Motor boats

Designed with passion Balt-Yacht under his brand offers houseboats, semi-planning and sailing boats. Among them there are: premiere of 2022 Balt 37 Grand – luxurious houseboat, winner of Gdynia Polboat Award 2022 and nominated to BOB Award 2022; SunCamper 35 – bestselling houseboat, the winner of the prestigious Jerzy Fijka Award ‘Highlight of WIND and WATER’ (‘Gwóźdź Targów’) in the Large Motor Yacht category and Boat of the Year 2019 in Poland. In cooperation with Yacht Export Poland, Balt-Yacht implemented a range of Titanium semi-planing houseboats: Balt 1018 Titanium -NEW in 2020, Balt 918 Titanium and Balt 818 Titanium – the first semi-planning houseboat in Poland -award winner of Polish Yacht Of The Year 2015.

Worldwide recognition and production possibilities In the spread of 30 years of business and thanks to foreign partners, our own projects, high quality and consistent development, over 19 thousand boats have left Balt-Yacht. Production capacities are still around 1500 vessels a year up to 10 meters long per year. Manufactured products went on the Polish, Norwegian, Czech, French, Croatian, Spanish, German, Finnish, English, and even an Australian or Asian markets. They are also shown on the largest Polish and European yacht exhibitions in Warsaw, London, Dusseldorf, Hamburg, Berlin, Paris, Cannes, Barcelona, Riga, Budapest or Oslo and receive nominations or prestigious awards. They are also presented in the most important world trade journals gathering always positive feedback.

Production technology of the boats in our company is done in two ways: traditional-gelcoat and resin overlay manually and using the “vacuum bagging”. We are also prepared to use “resin infusion” technology. For the implementation of our products we use materials and equipment of the highest quality, which combined with an experienced crew and a good quality control system allows our customers to get the products of the highest class.

Human potential Balt-Yacht Team means highly qualified specialists, including educated executives, office staff and experts in the field of wood machining, laminating, mounting boat or service. Experienced engineers and technologists together with the Supply Department apply modern manufacturing solutions, high-quality materials and raw ingredients. This crew works with passion and commitment and all departments collaborate closely to achieve the most important goal which is CUSTOMER SATISFACTION..

ENVIRONMENT PROTECTION Taking care of environmental protection Balt-Yacht has invested in eco-friendly infrastructure. Among other things, reducing the particulate problem separators have been installed in the plywood department. The place for waste sorting has been created and 2 heating rooms have been rebuilt: from carbon in to the wood-fired. Besides, the latest hall has been equipped with an innovative heat pump with a special ventilation system that provides the appropriate working conditions.

Infrastructure The headquarters and modern production halls with an infrastructure are located in the Żarnowo Pierwsze 9B near Augustow city. In area of around 4,5 hectares we have separated the zones adapted to the needs of the following production departments, magazines, social buildings and office..

2 Stores to manage our stores we use a proven Macrologic system.

2 laminate halls for small and large elements The laminate is applied manually with the use of machines for application gel coat and resin, however, our production is also suitable for use of infusion method. As of today this method we use to produce models of Cormate. Both halls have advanced ventilation system and cranes to de-molding laminated elements.

Cutting and laminate elements preparation for assembly halls Uses a modern ventilation exhaust with a capacity of 3000 m 3/h absorbing dust emerging when cutting laminated items

Quality control section with test pool where the fitted parts, plumbing, electrical and sanitary installations are thoroughly checked and the engine is calibrated. The vessels are also checked for leaks.

Wood production hall and plastics workshop Furniture and other wooden parts that are being used on boats and yachts are made here.

Plexi parts machining and forming department we have a range of machines for the Plexiglass processing and a large stove to their forming

Department of plywood and plastics machining uses 3-axis CNC machine for precise plywood and plastic components cutting.

New product development department with advanced 5 axial CNC milling machine

Balt-Yacht offers service for new product development purposes with highly advanced 5 axial CNC milling machine with latest generation control system FANUC 31I-B5.

and Development Center

New Research and Development Center

Balt-Yacht during the development is just completing a new investment of the Research and Development Center, which will deal with production of models and moulds as well as research and implementation of a new product. The newly opened Research and Development Center will allow Balt-Yacht to participate in the development and application of new materials.

The hall is equipped with the most modern dedusting and ventilation-blow systems which ensure comfortable working conditions, and two lifts on the crane which facilitate transport and demoulding of products.

Balt-Yacht is a member of Polish Cluster of Composite Technologies

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Balt Yacht 818 Titanium tour: The best value family cruiser on the market?

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Reporting from the 2022 Southampton Boat Show, Motor Boat & Yachting editor Hugo Andreae takes us on a full tour of the Balt Yacht 818 Titanium...

There is something wonderfully honest and unpretentious about this Polish-built semi-planing motorcruiser.  Built by a company whose main business is manufacturing craft for brands as diverse as Cormate and Quicksilver , the Balt Yacht 818 Titanium is an in-house design for an affordable river and estuary cruiser.

Powered by a modest outboard motor of 20-90hp, it is happiest pottering along at displacement speeds but can pick up its skirt and scuttle along at 13-14 knots to get home in a hurry or punch a strong tide.

However, its main assets are a comfortable open cockpit with plenty of space to enjoy your surroundings and a surprisingly big open-plan cabin with a fully equipped galley, plus a heads compartment and no fewer than six berths.

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The fit-out is fairly basic but it looks good, is tastefully done, enjoys lots of natural light and has all the amenities you really need for life afloat without any of the expensive fripperies that drive up the cost.

As a result, this 27ft family cruiser can be yours for the comparatively modest (by today’s standards) price of £87,901.

Its performance won’t set the world on fire but we were rather charmed by its quirky style, clever packaging and affordable purchase price and running costs.

Balt Yacht 818 Titanium specifications

LOA: 27ft 10in (8.48m) Beam: 8ft 6in (2.70m) Engine: Single 20-90hp outboard Top speed: 13.5 knots Starting price: £87,901 (inc. VAT)

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speech on safety at home

1 - minute Speech on Safety . Hello friends! Today, we talk about something important – safety. Safety is like a big umbrella that keeps us dry when it rains. It protects us from harm. Think about your home. It’s your safe place, right? But are all the doors locked when you go to bed? Are the stove and other appliances turned off?

Each speech is unique, yet they all share a common thread: the importance of safety in our daily lives. Whether you’re a student, a worker, a manager, or a leader, these speeches will provide you with valuable insights and practical advice on how to prioritize safety and create a safe and healthy environment.

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In a busy work environment, it's easiest to keep safety top of mind with a safety speech. A motivational safety speech unites people positively around safety excellence. It safeguards your culture.

Fostering a safety culture that emphasizes why we work safely is more than just a safety program – it’s the way we work every day. To make it safe, make it personal, and make it home –...

Why does safety advice – whether offered by a safety pro or discussed between co-workers on the front line – often fall on deaf ears? Four experts spoke with Safety + Health about “changing the atmosphere” around safety conversations.

Whether you’re putting together a safety orientation for new employees or getting employees to comply with safety procedures, there are some moments that demand a rousing safety speech. The trick? Writing a speech that sticks. For those figuring out how to ensure employees’ safety, speech structuring is everything.

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