Mike Lynch: British tech entrepreneur among missing after Bayesian yacht sinks off Sicily


Gillian Duncan
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One person is dead and six are missing, including British technology entrepreneur Mike Lynch, after a 56-metre superyacht was sunk by a waterspout off the coast of the Italian island of Sicily.

The British-flagged Bayesian, which had 22 people on board, capsized about 5am on Monday off Palermo in the Mediterranean in bad weather.

The vessel, which cost about £166,000 a week to rent, had a crew of 10 and was carrying 12 passengers, the Italian coastguard said.

Fifteen people were rescued and taken ashore at Porticello, where eight were being treated in hospital. The rescued included Mr Lynch's wife and a one-year-old child. The body of a man was found near the wreckage.

One of the survivors, Charlotte Golunski, said she was thrown into the water with her one-year-old daughter.

An Italian Coastguard boat and a fireboat search for the missing. AFP
An Italian Coastguard boat and a fireboat search for the missing. AFP

Six people were unaccounted for, said Luca Cari, an Italian fire and rescue service spokesman. Those reported missing were initially said to be four British passengers, two Americans and a Canadian.

Mr Lynch, the founder of software company Autonomy, is among the missing, a source said. He was acquitted of a multibillion-pound fraud in the US in June. A representative of the businessman said there was no comment.

Mr Lynch, 59, was acquitted by a jury in San Francisco of fraud charges linked to the sale of his software company, Autonomy, to Hewlett-Packard for $11 billion in 2011.

The sale cemented his reputation as Britain's answer to Bill Gates, but it quickly turned sour after Hewlett-Packard wrote down Autonomy's value by $8.8 billion.

Mr Lynch said he was “elated” to be cleared in the criminal trial, during which he took the stand in his own defence, denying to jurors any wrongdoing and blaming HP for botching the integration of the two companies.

Mike Lynch, former chief executive of Autonomy Corp, leaves the Rolls Building in London, in 2019. Getty Images
Mike Lynch, former chief executive of Autonomy Corp, leaves the Rolls Building in London, in 2019. Getty Images

'Bad weather expected, but not of this magnitude'

“The wind was very strong. Bad weather was expected but not of this magnitude,” a coastguard official in Palermo told Reuters.

The yacht was anchored 700 metres from Porticello port when it was struck by a waterspout, which resembles a mini tornado over a body of water. They can form during severe thunderstorms.

Ms Golunski said she and her daughter was thrown into the sea as bad weather battered the area.

"For two seconds I lost my baby in the sea, then I immediately hugged her again amid the fury of the waves," she said. "I held her tightly close to me while the sea was stormy.

"Many were screaming. Luckily the lifeboat inflated and 11 of us managed to get on board. I held her afloat with all my strength, my arms stretched upwards to keep her from drowning.

"It was all dark. In the water I couldn’t keep my eyes open. I screamed for help but all I could hear around me was the screams of others."

Emergency ward chief Dr Domenico Cipolla, of Giovanni di Cristina paediatric hospital in Palermo, said Ms Golunski told him that “while they were sleeping, at a certain point the yacht overturned due to the tornado, and they found themselves in the water".

“Some of them immediately managed to get on to the lifeboat. And some, evidently, didn’t make it," Dr Cipolla said.

"She told me that she was in the water for no more than two, three seconds, and she managed to save the baby, to keep her arms up, and then, with the others, they were able to get on the lifeboat. And then, I think, they were rescued by the coastguard.

“They are all in good condition. We managed to get the parents to talk (to each other) on the phone. All the doctors and nurses were all very moved, also because the little girl is fine, the prognosis is good and we are carrying out tests just to be careful.”

The captain of a vessel called Sir Robert, which saved some passengers at the scene of the wreck, said the Bayesian tilted to one side and sank within a few minutes.

“It all happened in a very short time," he was quoted as saying by Italian news outlet Notizie.

Emergency and rescue services involved in the search on Monday off the coast of Sicily. EPA
Emergency and rescue services involved in the search on Monday off the coast of Sicily. EPA

Pietro Asciutto, a fisherman, told Ansa news agency: “I saw the boat, it just had one mast, it was really big. I saw it suddenly sink.”

Fisherman Fabio Cefalu said he rushed to the yacht's help.

“But we didn't find anyone in the sea, we only found cushions and the remains of the boat,” he told AFP.

Survivors reportedly included two people with joint French and British nationalities, a Sri Lankan, a New Zealander and an Irish citizen.

A helicopter and rescue boats from the coastguard, Carabinieri, fire rescue and civil protection service teams were at the scene searching for the missing and found the wreck 50 metres down.

Experienced deepwater divers were arriving at the scene to try to enter the hull, said Mr Cari.

Daily newspaper Il Giornale di Sicilia reported the yacht was flying a British flag.

Bayesian, the 56-metre yacht that sank off Sicily early on Monday, pictured in port on the Italian island on Sunday night. PA
Bayesian, the 56-metre yacht that sank off Sicily early on Monday, pictured in port on the Italian island on Sunday night. PA

According to Superyacht Times, the Bayesian was made by Italian boat builder Perini Navi and delivered in 2008.

The vessel could accommodate up to 12 guests in six staterooms.

The boat left the Sicilian port of Milazzo on August 14 and was last tracked east of Palermo on Sunday evening, with a navigation status of “at anchor”, according to tracking app Vesselfinder.

The UK Foreign Ministry said British officials were in contact with Sicilian authorities and were ready to provide consular support for citizens who were affected.

The Marine Accident Investigation Branch said four of its inspectors were being deployed to Palermo.

It is understood that a basic assessment of the scene will be made by the team, with no investigation launched at this stage.

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Specs

Engine: 2-litre

Transmission: Eight-speed automatic

Power: 255hp

Torque: 273Nm

Price: Dh240,000

The%20Roundup%20%3A%20No%20Way%20Out
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Lee%20Sang-yong%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Don%20Lee%2C%20Lee%20Jun-hyuk%2C%20Munetaka%20Aoki%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Fixtures and results:

Wed, Aug 29:

  • Malaysia bt Hong Kong by 3 wickets
  • Oman bt Nepal by 7 wickets
  • UAE bt Singapore by 215 runs

Thu, Aug 30: UAE v Nepal; Hong Kong v Singapore; Malaysia v Oman

Sat, Sep 1: UAE v Hong Kong; Oman v Singapore; Malaysia v Nepal

Sun, Sep 2: Hong Kong v Oman; Malaysia v UAE; Nepal v Singapore

Tue, Sep 4: Malaysia v Singapore; UAE v Oman; Nepal v Hong Kong

Thu, Sep 6: Final

Griselda
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Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
IPL 2018 FINAL

Sunrisers Hyderabad 178-6 (20 ovs)
Chennai Super Kings 181-2 (18.3 ovs)

Chennai win by eight wickets

Brown/Black belt finals

3pm: 49kg female: Mayssa Bastos (BRA) v Thamires Aquino (BRA)
3.07pm: 56kg male: Hiago George (BRA) v Carlos Alberto da Silva (BRA)
3.14pm: 55kg female: Amal Amjahid (BEL) v Bianca Basilio (BRA)
3.21pm: 62kg male: Gabriel de Sousa (BRA) v Joao Miyao (BRA)
3.28pm: 62kg female: Beatriz Mesquita (BRA) v Ffion Davies (GBR)
3.35pm: 69kg male: Isaac Doederlein (BRA) v Paulo Miyao (BRA)
3.42pm: 70kg female: Thamara Silva (BRA) v Alessandra Moss (AUS)
3.49pm: 77kg male: Oliver Lovell (GBR) v Tommy Langarkar (NOR)
3.56pm: 85kg male: Faisal Al Ketbi (UAE) v Rudson Mateus Teles (BRA)
4.03pm: 90kg female: Claire-France Thevenon (FRA) v Gabreili Passanha (BRA)
4.10pm: 94kg male: Adam Wardzinski (POL) v Kaynan Duarte (BRA)
4.17pm: 110kg male: Yahia Mansoor Al Hammadi (UAE) v Joao Rocha (BRA

Company Profile

Company name: NutriCal

Started: 2019

Founder: Soniya Ashar

Based: Dubai

Industry: Food Technology

Initial investment: Self-funded undisclosed amount

Future plan: Looking to raise fresh capital and expand in Saudi Arabia

Total Clients: Over 50

Dubai works towards better air quality by 2021

Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.

The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.

These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.

“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.

“We’re in a good position except for the cases that are out of our hands, such as sandstorms.

“Sandstorms are our main concern because the UAE is just a receiver.

“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”

Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.

There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.

“There are 25 stations in total,” Mr Al Daraji said.

“We added new technology and equipment used for the first time for the detection of heavy metals.

“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

SPEC%20SHEET
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Managing the separation process

  • Choose your nursery carefully in the first place
  • Relax – and hopefully your child will follow suit
  • Inform the staff in advance of your child’s likes and dislikes.
  • If you need some extra time to talk to the teachers, make an appointment a few days in advance, rather than attempting to chat on your child’s first day
  • The longer you stay, the more upset your child will become. As difficult as it is, walk away. Say a proper goodbye and reassure your child that you will be back
  • Be patient. Your child might love it one day and hate it the next
  • Stick at it. Don’t give up after the first day or week. It takes time for children to settle into a new routine.And, finally, don’t feel guilty.  
Key products and UAE prices

iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229

iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649

iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179

Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

The specs

Engine: 4-litre twin-turbo V8

Transmission: eight-speed PDK

Power: 630bhp

Torque: 820Nm

Price: Dh683,200

On sale: now

Russia's Muslim Heartlands

Dominic Rubin, Oxford

Barbie
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Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

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The winners

Fiction

  • ‘Amreekiya’  by Lena Mahmoud
  •  ‘As Good As True’ by Cheryl Reid

The Evelyn Shakir Non-Fiction Award

  • ‘Syrian and Lebanese Patricios in Sao Paulo’ by Oswaldo Truzzi;  translated by Ramon J Stern
  • ‘The Sound of Listening’ by Philip Metres

The George Ellenbogen Poetry Award

  • ‘Footnotes in the Order  of Disappearance’ by Fady Joudah

Children/Young Adult

  •  ‘I’ve Loved You Since Forever’ by Hoda Kotb 
CONFIRMED%20LINE-UP
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The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Updated: August 22, 2024, 11:40 AM