(article updated January 26 to include statement from The Italian Sea Group)
Claiming loss of sales and reputational harm following her sinking, The Italian Sea Group is suing the captain, two crewmembers, and the holding company of the yacht Bayesian. It’s seeking €456 million (about $537 million at press time) in damages.
According to a report by The Telegraph, The Italian Sea Group and GC Holding Company, belonging to The Italian Sea Group chairman Giovanni Costantino, filed the lawsuit in Sicily. It names Capt. James Cutfield, crewmembers Timothy Eaton and Matthew Griffiths, plus Revtom, the yacht’s registered owner, as well. Currently, Revtom belongs to Angela Bacares Lynch, who with her late husband owned Bayesian.
The Italian Sea Group is suing over a few factors. Among them, it says it’s suffered a devastating loss of income. Specifically, it intended to sell yachts representing a total of nearly €1 billion by 2028. However, the Group hasn’t sold any Perini Navi yachts since the sinking. “It has also stopped receiving a single expression of interest from the group of international brokers with whom it collaborates,” The Telegraph quotes from the lawsuit. The company further says its share price has tumbled, and the value of the Perini Navi brand has collapsed.
Additionally, the lawsuit reiterates claims, originally by Costantino shortly after the sinking, that the sailing superyacht was “unsinkable.” It alleges that the crew failed to close hatches, pay attention to weather warnings, and lower the keel. These were “an incredible and unspeakable series of very serious errors and omissions,” The Telegraph quotes. All of this, the lawsuit concludes, caused the yacht to capsize in forceful winds. Revtom is liable, it says, because of the crew’s actions.
The 184-footer (56-meter) sank in Sicily on August 19, 2024. Seven people aboard died. The 15 survivors include six passengers, the captain, and eight crewmembers. One of the passengers was Angela Bacares Lynch, who owned the yacht with her husband, Mike Lynch, a software entrepreneur. The seven who died include Recaldo Thomas, who was Bayesian’s chef; Lynch; and Hannah Lynch, the daughter of Lynch and Bacares Lynch. Five days after the sinking, the public prosecutor’s office in Termini Imerese, governing the yacht’s anchorage, confirmed a sudden, rapid storm. It further revealed that a downburst likely hit Bayesian.
The following May, the interim report on the Bayesian sinking came to different conclusions. Issued by the UK’s Marine Accident Investigation Branch (MAIB), it found that violent winds made righting herself impossible. In examining weather conditions and local observations when the sinking occurred, investigators uncovered possible hurricane-force winds well in excess of 64 knots. They found the mast, one of the world’s tallest, was responsible for half the total wind heeling moment in a study when winds were directly on her beam. Additionally, the interim report indicated that the yacht’s stability booklet contained limited information about her vulnerability in storms. The booklet revealed her maximum heeling angle before downflooding in a sudden gust or squall when her lifting keel was down. However, no information pertained to sudden squalls or gusts with her keel up, at anchor or under engine power.
The MAIB hasn’t yet released its final report. Neither have Italian investigators reached a conclusion. They’re weighing possible charges of manslaughter and culpable shipwreck against Cutfield, Eaton, and Griffiths.
We were unable to reach representatives for Revtom, Cutfield, Eaton, and Griffiths. The Italian Sea Group released a statement from Giovanni Costantino, the founder and CEO, in response to our inquiry. The Bayesian sinking has led to “significant losses in market capitalization,” Perini Navi sales losses, and reputational damage. The company is seeking compensation through the courts “to safeguard its reputation, the yacht’s manufacturing perfection (demonstrated on multiple occasions) as well as the interests of its shareholders, employees, and the community of Perini Navi owners.” It notes that over 16 years and three sets of owners, the sailing superyacht cruised globally and competed in regattas. “No critical issues were reported, in line with the operational record of the remaining 59 Perini Navi yachts,” it says.
Additionally, the statement reveals details about lawsuits the company is facing. “Unbeknown to the public market, substantial claims for damages have been brought against The Italian Sea Group S.p.A. by Mrs. Angela Bacares, widow of Mr. Lynch, and a small number of relatives of the victims,” it reads. “Such claims have no legal basis whatsoever.”
The statement further corrects reports that the Group is suing Bacares, saying it is seeking compensation from the owning company. “The personal position of Mrs. Angela Bacare, widow of Mr. Lynch, does not fall within the scope of this initiative,” it reads.
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