If using frozen vegetables, thaw the corn and lima beans and drain well. If using fresh lima beans, blanch them in boiling water for 5 minutes first.
In a large skillet over medium heat, melt the butter. Add the chopped onion and diced bell pepper, cooking for 4-5 minutes until softened.
Add the minced garlic and cook for 1 minute until fragrant, stirring constantly to prevent burning.
Add the corn, lima beans, and broth to the skillet. Stir well and bring to a simmer.
Cook for 8-10 minutes, stirring occasionally, until the vegetables are tender and most of the liquid has evaporated. Season with salt and pepper.
Remove from heat and stir in fresh parsley and thyme just before serving.