HSCM Bermuda Fund, Ltd. v. 24 Capital, LLC

Background

On June 6, 2022, the parties notified the court that HSCM Bermuda Fund, Ltd. and 24 Capital, LLC, doing business as Everyday Capital, had reached an agreement in principle resolving all issues between them.

Ruling

The court dismissed the case with prejudice and without costs, including attorneys’ fees, as to 24 Capital, LLC. The Clerk of Court was directed to terminate 24 Capital on the docket. The opinion does not state a disposition as to Business Advance Team LLC d/b/a Everyday Capital or Newco Capital Group VI LLC.

The order allowed the parties to apply to reopen the case within 30 days. Any such application had to show good cause for keeping the case open despite the settlement. The court warned that a request filed after 30 days or without a showing of good cause could be denied on that basis alone.

If the parties wanted the court to retain jurisdiction—continuing authority—to enforce the settlement agreement, they had to submit the agreement under the court’s individual practices and request an order expressly retaining that authority within the same 30-day period. The court also directed the Clerk to terminate the motion pending at Docket 93.

Disposition

Judge Valerie Caproni dismissed the case with prejudice and without costs as to 24 Capital, LLC, terminated 24 Capital from the docket, permitted a timely application to reopen for good cause, and terminated the pending motion at Docket 93.