B.E. Capital Management Fund LP v. Fund.com Inc., C.A. No. 12843‑JTL (Del. Ch. Apr. 10, 2026) INTRODUCTION Can a successor receiver let a past receiver, removed for being a “faithless fiduciary,” bid to buy company assets at auction? In B.E. Capital Management Fund LP v. Fund.com Inc., the Delaware Court of Chancery (the “Court”) highlighted … Continue Reading
Can messy be good? Sometimes the answer is yes. The chapter 11 case filed by Limetree Bay Services, LLC and five of its affiliates (“Limetree Bay”) is one example of auction disorder actually bringing increased creditor recoveries. Bankruptcy professionals, financially distressed companies and acquirers of distressed assets can learn valuable lessons from this odd bankruptcy … Continue Reading
