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Season chicken parts with salt and pepper.
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Whisk cornstarch and cayenne together in a pie pan. Lightly coat chicken in cornstarch, shaking off excess.
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Heat oil in a large skillet over medium heat. Brown chicken pieces, turning over to brown both sides, about 10 minutes in total. Transfer chicken pieces to a plate
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Add onion, bell pepper and garlic and cook, stirring and scraping up brown bits, until vegetables are softened, about 8 minutes.
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Add bay leaf, broth, tomatoes and juice, and chicken. Bring to a boil, then reduce heat to low and simmer, covered, for 50 minutes.
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Stir in corn and lima beans, and simmer another 15-20 minutes, uncovered, until vegetables are tender.
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Season to taste with salt and pepper. Discard bay leaf and serve.