Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > Mike Lynch's yacht toppled by extreme wind, interim report finds
    Finance

    Mike Lynch's yacht toppled by extreme wind, interim report finds

    Mike Lynch's yacht toppled by extreme wind, interim report finds

    Published by Global Banking and Finance Review

    Posted on May 15, 2025

    Featured image for article about Finance

    By Paul Sandle

    LONDON (Reuters) -The superyacht that sank off Sicily last year, killing British tech tycoon Mike Lynch and six others, was vulnerable to violent winds and was probably knocked over by gusts of more than 117 km per hour, an interim UK report said on Thursday.

    The 56-metre-long (184-foot) Bayesian was moored off Porticello, near Palermo, in August last year when it was hit by a very strong downward wind, forcing it onto its side where it began taking on water, Britain's Marine Accident Investigations Branch said.

    Described by the boat builder's owner as basically unsinkable, Bayesian sank in about 18 minutes after the violent gusts hit, tipping it 90 degrees.

    The investigation established that when the yacht's retractable keel was raised, wind speeds in excess of 117 km per hour on the beam were sufficient to knock it over. The report said the yacht could also have been vulnerable to winds of lower speed.

    These vulnerabilities were not identified in the stability information book carried on board and were consequently unknown to either the owner or the crew.

    "The findings indicate that the extreme wind experienced by Bayesian was sufficient to knock the yacht over," said Andrew Moll, Chief Inspector of Marine Accidents.

    "Further, once the yacht had heeled beyond an angle of 70 degrees the situation was irrecoverable."

    The report said the 72m (78.74 yards) aluminium mast, the world's tallest, increased the vulnerability, accounting for half of the force that pushed the boat onto its side.

    The sinking of the Bayesian stunned the local community and those who sail in European waters.

    Lynch, a British tech trailblazer, had been celebrating his acquittal on 15 counts of fraud in June 2024.

    He was sailing with his family and friends who supported him during the U.S. trial, including his lawyer and a banker, Jonathan Bloomer. His daughter also died.

    15 SECONDS

    The report said a sudden increase in the wind speed caused the yacht to heel over to 90 degrees in less than 15 seconds.

    Water came in over the starboard rails and within seconds entered the vessel down the stairwells, it said. Around 18 minutes later the yacht sunk in the 50 metre-deep sea.

    The Bayesian was built in 2008 by Perini Navi, an Italian luxury yacht maker.

    Giovanni Costantino, CEO of the Italian Sea Group, which owns Perini, said in August the yacht was "one of the safest boats in the world" and basically unsinkable.

    The company did not comment on the UK report.

    An Italian investigation into the sinking is ongoing and the British investigators said circumstances could change after more evidence is released and the wreck was examined.

    The yacht remains on the seabed and a salvage operation is scheduled to resume on Thursday after a diver was killed last Friday during preliminary operations to lift it.

    "Last week's tragedy affected all involved," said Marcus Cave, head of naval architecture and a director of TMC Marine.

    "However, everyone is still committed to complete this project."

    (Reporting by Paul Sandle; Editing by Kate Holton and Kate Mayberry)

    Related Posts
    Hogan Lovells and Cadwalader plan merger to create law firm with $3.6 billion in revenue
    Hogan Lovells and Cadwalader plan merger to create law firm with $3.6 billion in revenue
    Pirelli says 99.3% of 500 million euro bond converted, diluting Sinochem and Camfin stakes
    Pirelli says 99.3% of 500 million euro bond converted, diluting Sinochem and Camfin stakes
    ECB policymakers see steady rates next year but cut not off table, sources say
    ECB policymakers see steady rates next year but cut not off table, sources say
    Britain names Christian Turner as ambassador to the US
    Britain names Christian Turner as ambassador to the US
    Trump administration imposes sanctions on two more ICC judges
    Trump administration imposes sanctions on two more ICC judges
    Norway reaches 2026 fisheries agreement with Russia, cod quota at lowest level since 1991
    Norway reaches 2026 fisheries agreement with Russia, cod quota at lowest level since 1991
    Ukraine-US fund approves investment policies as it eyes first projects in 2026
    Ukraine-US fund approves investment policies as it eyes first projects in 2026
    VW management to continue cost cutting
    VW management to continue cost cutting
    Parliament of Swiss canton Fribourg votes to ban mobile phones at school
    Parliament of Swiss canton Fribourg votes to ban mobile phones at school
    Italy economy minister denies interfering in MPS's bid for Mediobanca
    Italy economy minister denies interfering in MPS's bid for Mediobanca
    Eni and BlackRock's GIP take joint control of carbon capture unit
    Eni and BlackRock's GIP take joint control of carbon capture unit
    Bank of England's Bailey sees inflation near 2% target by May
    Bank of England's Bailey sees inflation near 2% target by May

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Finance

    Explore more articles in the Finance category

    Italian judge drops Genoa dam case against Webuild CEO

    Italian judge drops Genoa dam case against Webuild CEO

    ECB's Lagarde 'fully confident' EU will agree reparation loan plan for Ukraine

    ECB's Lagarde 'fully confident' EU will agree reparation loan plan for Ukraine

    ECB keeps rates unchanged, turns more positive on economy

    ECB keeps rates unchanged, turns more positive on economy

    Austria's top court rules Meta's ad model illegal, orders overhaul of user data practices in EU

    Austria's top court rules Meta's ad model illegal, orders overhaul of user data practices in EU

    Salzgitter takes legal action against Thyssenkrupp over HKM joint venture

    Salzgitter takes legal action against Thyssenkrupp over HKM joint venture

    Lovable valued at $6.6 billion in latest funding round as AI coding demand surges

    Lovable valued at $6.6 billion in latest funding round as AI coding demand surges

    Israel, Germany sign $3.1 billion contract expansion for Arrow air defence system

    Israel, Germany sign $3.1 billion contract expansion for Arrow air defence system

    Britain imposes more sanctions on Russia's energy sector

    Britain imposes more sanctions on Russia's energy sector

    Asked about NATO, Zelenskiy says Ukraine should not change its constitution

    Asked about NATO, Zelenskiy says Ukraine should not change its constitution

    Equals Money | Railsr partners with Okta to secure AI-driven payments

    Equals Money | Railsr partners with Okta to secure AI-driven payments

    France drafts in army for cattle vaccination to defuse farmer protests

    France drafts in army for cattle vaccination to defuse farmer protests

    Russia orders Russian Railways to sell $2.4 billion Moscow Towers to pay debts, three sources say

    Russia orders Russian Railways to sell $2.4 billion Moscow Towers to pay debts, three sources say

    View All Finance Posts
    Previous Finance PostEni in talks with Ares fund over Plenitude stake sale, valuing unit at $13 billion
    Next Finance PostGerman beauty products retailer Douglas' Q2 core profit hit by weak spending