A Los Angeles hedge fund that had been trying to oust the management of Variant Holding Co. has pulled its request for a chapter 11 trustee to run the real estate firm, Dow Jones Daily Bankruptcy Review reported today. Hedge fund Beach Point Capital withdrew its request for a chapter 11 trustee to take control of the real estate firm, according to bankruptcy court papers filed on Tuesday. The withdrawal comes after Beach Point settled with the real estate firm and agreed to provide a $10 million bankruptcy loan to finance Variant's restructuring. Bankruptcy Judge Brendan L. Shannon of signed off on the settlement two weeks ago.
