HSCM Bermuda Fund, Ltd. v. 24 Capital, LLC
- Valerie Caproni
- 1:21-cv-06904
- U.S. District Court · Southern District of New York
- 2
In HSCM Bermuda Fund v. 24 Capital, Judge Caproni dismissed the case with prejudice as to Business Advance Team after a settlement.
Business Advance Team LLC, doing business as Everyday Capital, was dismissed from the case with prejudice and removed from the docket. The order does not state a disposition as to 24 Capital, LLC or Newco Capital Group VI LLC.
What happened
HSCM Bermuda Fund, Ltd. v. 24 Capital, LLC involved an agreement in principle between HSCM Bermuda Fund and Business Advance Team LLC, doing business as Everyday Capital, resolving all issues between them.
The court dismissed the case with prejudice and without costs, including attorneys’ fees, as to Business Advance Team and directed the clerk to remove that party from the docket. The parties could ask to reopen the case within 30 days by showing good cause.
Judge Valerie Caproni also stated that the parties had to submit their settlement agreement and request an express order if they wanted the court to retain authority to enforce the settlement.
The detailed version
- HSCM Bermuda Fund, Ltd. v. 24 Capital, LLC · No. 1:21-cv-06904
- Valerie Caproni
- Apr. 14, 2022
Background
The parties notified the court that HSCM Bermuda Fund, Ltd. and Business Advance Team LLC, doing business as Everyday Capital, had reached an agreement in principle resolving all issues between them.
Ruling
The court ordered that the case be dismissed with prejudice and without costs, including attorneys’ fees, as to Business Advance Team LLC. The clerk was directed to terminate Business Advance Team LLC on the docket. The order does not state a disposition as to 24 Capital, LLC or Newco Capital Group VI LLC.
The parties could apply to reopen the case within 30 days. Any such application had to show good cause for keeping the case open in light of the settlement, and a late application or one without a showing of good cause could be denied on that basis. If the parties wanted the court to retain jurisdiction—legal authority—to enforce the settlement, they had to submit the settlement agreement and request an order expressly retaining that authority within the same 30-day period.
Judge Valerie Caproni entered the order on April 14, 2022.
Read the full 2-page opinion on CourtListener, the free public archive maintained by the Free Law Project.