The estate of the late British tech tycoon, 'Mike Lynch' was denied permission to appeal on Tuesday against a ruling by London High Court which found that he had been liable for Hewlett Packard Enterprise in relation to its acquisition of his company?Autonomy.

Hewlett-Packard, the U.S. tech giant, is seeking damages against the estate of a man named?Lynch who drowned last year after his luxury yacht capsized?off Sicily. This was over its 2011 purchase?of Autonomy?for $11.1 billion.

HP accused Lynch and Autonomy’s former chief finance officer, Sushovan Hassain of inflating Autonomy’s value prior to the takeover. HP reduced Autonomy’s value by $8.8 Billion within one year of the purchase.

In 2022, the?High Court ruled that Lynch and Hussain were liable for the deal to?HP. Lawyers for Lynch's Estate asked to appeal but were denied permission. They can still apply directly to the Court of Appeal. (Reporting and editing by Paul Sandle, Sam Tobin)

(source: Reuters)