Certification of Counsel — Revised Order Approving KServicing and Customers Bank Settlement — In re KServicing Wind Down Corp., et al. (Bankr. D. Del.)

Record facts

U.S. Bankruptcy Court for the District of Delaware · No. 22-10951 · Doc. 231 · 2022-11-09 · Docket on CourtListener

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RLF1 28214835v.1 
UNITED STATES BANKRUPTCY COURT 
DISTRICT OF DELAWARE 
------------------------------------------------------------ x 
 
 
: 
 
In re 
: 
Chapter 11 
 
: 
 
KABBAGE, INC. d/b/a KSERVICING, et al., : 
Case No. 22-10951 (CTG) 
 
: 
 
 
: 
 
 
 
Debtors.1 
: 
: 
: 
(Jointly Administered) 
 
Re: Docket Nos. 172, 206, 211 & 213 
------------------------------------------------------------ x 
 
CERTIFICATION OF COUNSEL REGARDING REVISED ORDER (I) AUTHORIZING 
AND APPROVING THE SETTLEMENT AGREEMENT BETWEEN KSERVICING 
AND CUSTOMERS BANK AND (II) GRANTING RELATED RELIEF 
 
The undersigned hereby certifies as follows: 
1. 
On October 27, 2022, Kabbage, Inc. d/b/a KServicing and its debtor 
affiliates, as debtors and debtors in possession in the above-captioned chapter 11 cases 
(collectively, the “Debtors”), filed the Debtors’ Motion for Entry of an Order (I) Authorizing and 
Approving the Settlement Agreement Between KServicing and Customers Bank and (II) Granting 
Related Relief [Docket No. 172] (the “Motion”) with the United States Bankruptcy Court for the 
District of Delaware (the “Court”).  A proposed form of order granting the relief requested in the 
Motion was attached to the Motion as Exhibit A (the “Proposed Order”). 
2. 
On October 28, 2022, the Debtors filed a motion to shorten the notice and 
objection periods for the Motion [Docket No. 173] (the “Motion to Shorten”), and the Court 
entered an order granting the Motion to Shorten [Docket No. 174] (the “Order Shortening 
 
1 The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification 
number, as applicable are: Kabbage, Inc. d/b/a KServicing (3937); Kabbage Canada Holdings, LLC (N/A); Kabbage 
Asset Securitization LLC (N/A); Kabbage Asset Funding 2017-A LLC (4803); Kabbage Asset Funding 2019-A 
LLC (8973); and Kabbage Diameter, LLC (N/A). Kabbage is a trademark of American Express used under license; 
Kabbage, Inc. d/b/a KServicing is not affiliated with American Express. The Debtors’ mailing and service address 
is 925B Peachtree Street NE, Suite 383, Atlanta, GA 30309.  
Case 22-10951-CTG    Doc 231    Filed 11/09/22    Page 1 of 3

 
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RLF1 28214835v.1 
Notice”).  The Order Shortening Notice set the deadline for parties to file responses or objections 
to the relief requested in the Motion, if any, for November 4, 2022 at 4:00 p.m. (prevailing Eastern 
Time) (the “Objection Deadline”), and a hearing date on the Motion for November 7, 2022 at 
1:00 p.m. (prevailing Eastern Time) (the “Hearing”).  
3. 
Prior to the Objection Deadline, Cross River Bank (“CRB”) filed an 
objection [Docket No. 206] (the “Objection”) to the Motion. 
4. 
On November 7, 2022, the Court held the Hearing to consider, among other 
things, the relief requested in the Motion and the Objection.  At the Hearing, the Court granted 
the Motion and overruled the Objection for the reasons set forth on the record at the Hearing.  
Consistent with the Court’s ruling at the Hearing, the Debtors have prepared a revised form of 
Proposed Order (the “Revised Order”), attached hereto as Exhibit 1.  The Revised Order has 
been circulated to CRB, and CRB does not object to the entry of the Revised Order.  For the 
convenience of the Court and all parties in interest, a redline comparison of the Revised Order 
marked against the Proposed Order is attached hereto as Exhibit 2. 
 
[Remainder of page intentionally left blank] 
 
 
Case 22-10951-CTG    Doc 231    Filed 11/09/22    Page 2 of 3

 
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RLF1 28214835v.1 
WHEREFORE the Debtors respectfully request that the Revised Order be entered 
at the earliest convenience of the Court. 
Dated: November 9, 2022 
Wilmington, Delaware 
 
/s/ Matthew P. Milana 
RICHARDS, LAYTON & FINGER, P.A. 
Daniel J. DeFranceschi, Esq. (No. 2732) 
Amanda R. Steele, Esq. (No. 5530) 
Zachary I. Shapiro, Esq. (No. 5103) 
Matthew P. Milana, Esq. (No. 6681) 
One Rodney Square 
920 North King Street 
Wilmington, Delaware 19801 
Telephone: (302) 651-7700 
E-mail: defranceschi@rlf.com 
       steele@rlf.com 
       shapiro@rlf.com 
       milana@rlf.com 
 
-and- 
 
WEIL, GOTSHAL & MANGES LLP 
Ray C. Schrock, P.C. (admitted pro hac vice) 
Candace M. Arthur, Esq. (admitted pro hac vice) 
Natasha S. Hwangpo, Esq. (admitted pro hac vice) 
Chase A. Bentley, Esq. (admitted pro hac vice) 
767 Fifth Avenue 
New York, New York 10153 
Telephone:  (212) 310-8000 
E-mail:  
ray.schrock@weil.com 
 
 
candace.arthur@weil.com 
 
 
natasha.hwangpo@weil.com 
 
 
chase.bentley@weil.com 
 
Attorneys for Debtors and Debtors in Possession 
 
Case 22-10951-CTG    Doc 231    Filed 11/09/22    Page 3 of 3

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