B.E. Capital Management Fund LP v. Fund.com Inc.Annotate this Case
The Court of Chancery denied the appeal of Philip Gentile from the determination that Gentile’s claim for $497,739 against Fund.com Inc. (the Company) was time-barred. After a Receiver was appointed for the Company, it commenced a process for marshaling the Company’s assets, determining its liabilities, and winding up its affairs. Gentile, the Company’s former CEO, contended that he was entitled to recover the amount sought as a result of various breaches of his employment agreement with the company. The Receiver rejected the claim as time-barred. The Court of Chancery adopted the Receiver’s determination as a decision of the court, holding that the Receiver correctly determined that Gentile’s claim was barred by the statute of limitations.