Court filing
Second monthly fee statement — Weil Gotshal & Manges LLP — In re KServicing
Record facts
| Court | U.S. Bankruptcy Court for the District of Delaware |
|---|---|
| Filed | 2022-12-29 |
U.S. Bankruptcy Court for the District of Delaware · No. 22-10951 · Doc. 389 · 2022-12-29 · Docket on CourtListener
Summary
The second monthly fee statement of Weil, Gotshal & Manges LLP, counsel to the debtors in In re Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951 (CTG), filed December 29, 2022 as Doc 389 in the U.S. Bankruptcy Court for the District of Delaware. It covers November 1, 2022 through November 30, 2022 and requests $1,215,737.80 (80% of $1,519,672.25) in fees plus $11,087.84 in expenses. Summary tables break the 1,322.90 billed hours down by professional, by project category and by expense type, with the largest categories being non-bankruptcy litigation and settlements. A narrative describes services under task codes such as the AmEx Transaction investigation, plan and disclosure statement work and employee matters. The 16-page filing sets an objection deadline of January 19, 2023 and closes with a declaration by a Weil member.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Full text
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)
:
------------------------------------------------------------ x
Obj. Deadline: January 19, 2023 at 4:00 p.m. (ET)
SUMMARY OF SECOND MONTHLY FEE STATEMENT OF WEIL, GOTSHAL &
MANGES LLP FOR PAYMENT OF COMPENSATION AND REIMBURSEMENT OF
EXPENSES FOR PERIOD NOVEMBER 1, 2022 THROUGH NOVEMBER 30, 2022
Name of Applicant:
Authorized to Provide Professional Services to:
Date of Retention:
Period for which compensation and
reimbursement are sought:
Amount of compensation sought as actual,
reasonable, and necessary:
Amount of expense reimbursement sought as
actual, reasonable, and necessary:
Weil, Gotshal & Manges LLP
Debtors and Debtors in Possession
October 21, 2022 effective as of October 3, 2022
November 1, 2022 through November 30, 2022
$1,215,737.80 (80% of $1,519,672.25)
$11,087.84
This is a(n): X monthly ___ interim ___ final application
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.
WEIL 98952367V.8
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 1 of 16
2
COMPENSATION BY PROFESSIONAL
NOVEMBER 1, 2022 THROUGH NOVEMBER 30, 2022
The attorneys who rendered professional services in these chapter 11 cases from November 1, 2022
through November 30, 2022 (the “Fee Period”) are:
NAME OF
PROFESSIONAL
POSITION
DEPARTMENT
YEAR
ADMITTED1
HOURLY
BILLING
RATE2
TOTAL
BILLED
HOURS
TOTAL
COMPENSATION
Slack, Richard W.
Partner
Litigation
1987
$1,495.00
78.40
$117,208.00
Slack, Richard W.
Partner
Litigation
1987
$747.50†
2.70
$2,018.25
Tsekerides, Theodore
E.
Partner
Litigation
1994
$1,395.00
44.90
$62,635.50
Schrock, Ray C.
Partner
Restructuring
1998
$1,950.00
5.00
$9,750.00
Arthur, Candace
Partner
Restructuring
2010
$1,495.00
105.80
$158,171.00
Hwangpo, Natasha
Partner
Restructuring
2014
$1,395.00
165.10
$230,314.50
Hwangpo, Natasha
Partner
Restructuring
2014
$697.50†
3.00
2,092.50
Margolis, Steven M.
Counsel
Tax
1990
$1,300.00
5.20
$6,760.00
Bonk, Cameron Mae
Counsel
Litigation
2016
$1,250.00
86.00
$107,500.00
Friedman, Julie T.
Associate
Restructuring
2003
$695.00
13.40
$9,313.00
Ruocco, Elizabeth A.
Associate
Restructuring
2017
$1,165.00
111.90
$130,363.50
Bentley, Chase A.
Associate
Restructuring
2018
$1,200.00
178.80
$214,560.00
Labate, Angelo G.
Associate
Litigation
2019
$1,130.00
6.20
$7,006.00
Ritholtz, Benjamin
Associate
Litigation
2019
$1,130.00
10.20
$11,526.00
Parker-Thompson,
Destiney
Associate
Restructuring
2020
$840.00
59.00
$49,560.00
McMillan, Jillian A.
Associate
Restructuring
2021
$1,075.00
113.50
$122,012.50
Ham, Hyunjae
Associate
Restructuring
2021
$980.00
32.90
$32,242.00
Ollestad, Jordan
Alexandra
Associate
Litigation
2022
$980.00
91.10
$89,278.00
Blankman, Alexandra
Associate
Litigation
2022
$840.00
6.50
$5,460.00
Cazes, Catherine
Associate
Litigation
2022
$840.00
33.10
$27,804.00
Suarez, Ashley
Associate
Restructuring
2022
$840.00
57.40
$48,216.00
Castillo, Lauren
Associate
Restructuring
*
$690.00
108.10
$74,589.00
Total for Attorneys
1,318.20
$1,518,379.75
1 * – Not Yet Admitted to Practice
2 † - Non-working travel is billed at 50% of regular hourly rates.
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 2 of 16
3
The paraprofessionals who rendered professional services during the Fee Period are:
NAME OF
PARAPROFESSIONAL
POSITION
DEPARTMENT
HOURLY
BILLING
RATE
TOTAL
BILLED
HOURS
TOTAL
COMPENSATION
Mason, Kyle
Paralegal
Restructuring
$275.00
4.70
$1,292.50
Total:
4.70
$1,292.50
The total fees for the Fee Period are:
PROFESSIONALS
BLENDED RATE
TOTAL
BILLED
HOURS
TOTAL COMPENSATION
Partners and Counsel
$1,403.85
496.10
$696,449.75
Associates
$999.79
822.10
$821,930.00
Paraprofessionals
$275.00
4.70
$1,292.50
Blended Attorney Rate
$1,151.86
Total:
1,322.90
$1,519,672.25
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 3 of 16
4
COMPENSATION BY PROJECT CATEGORY
NOVEMBER 1, 2022 THROUGH NOVEMBER 30, 2022
TASK
CODE
PROJECT CATEGORY
TOTAL BILLED
HOURS
TOTAL
COMPENSATION
003
AmEx Transaction Investigation
112.60
$131,533.00
005
Automatic Stay
11.60
$10,404.00
006
Bar Date and Claims Matters
2.10
$2,512.50
007
Borrower Matters
0.90
$804.50
008
Case Administration (WIP List & Case Calendar)
7.80
$7,518.50
009
Chapter 11 Plan/Plan Confirmation/Implementation
41.80
$49,665.00
010
Corporate Governance/Securities
63.60
$71,389.50
011
Customer (incl. Partner Banks)/Vendor/Supplier Matters
2.80
$3,748.00
012
Cash Management
4.50
$5,633.50
013
Disclosure Statement/Solicitation/Voting
122.20
$134,582.50
014
Employee Matters
69.90
$75,150.50
015
Exclusivity
7.90
$5,409.50
017
General Case Strategy (incl Team and Client Calls)
113.60
$129,643.00
018
Government Investigation Matters (excl. Settlements)
3.60
$4,168.00
019
Hearings and Court Matters
71.20
$88,159.50
020
Insurance and Letters of Credit Matters
0.40
$466.00
021
Non-bankruptcy Litigation (incl. CUBI Dispute)
264.60
$322,154.00
022
Non-working Travel
5.70
$4,110.75
024
Regulatory Matters
4.40
$6,368.00
025
Retention/Billing/Fee Applications: OCP
5.30
$5,498.00
026
Retention/Fee Applications: Non-Weil Professionals
66.20
$67,378.50
027
Retention/Fee Applications: Weil
33.40
$28,605.00
028
Secured Creditors Issues/Meetings/Comms (excl. Settlements)
24.30
$31,466.00
029
Settlements (including 9019 matters)
256.60
$301,571.50
032
Unsecured Creditors Issues/Meetings/Comms/UCC (excl. stlmnts)
15.70
$19,548.50
033
US Trustee/MORs/2015.3 Reports
10.20
$12,184.50
TOTAL
1,322.90
$1,519,672.25
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 4 of 16
5
EXPENSE SUMMARY
NOVEMBER 1, 2022 THROUGH NOVEMBER 30, 2022
EXPENSE CATEGORY
AMOUNT
Computerized Research
$5,562.54
Duplicating
$934.50
Meals
$120.00
Transportation
$2,503.38
Travel
$1,967.42
TOTAL
$11,087.84
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 5 of 16
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)
:
------------------------------------------------------------ x
Obj. Deadline: January 19, 2023 at 4:00 p.m. (ET)
SECOND MONTHLY FEE STATEMENT OF
WEIL, GOTSHAL & MANGES LLP FOR PAYMENT OF
COMPENSATION AND REIMBURSEMENT OF EXPENSES FOR
PERIOD NOVEMBER 1, 2022 THROUGH NOVEMBER 30, 2022
Weil, Gotshal & Manges LLP (“Weil” or the “Firm”), attorneys for 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”), hereby files its second monthly fee
statement (this “Fee Statement”) for payment of compensation for professional services rendered
to the Debtors and for reimbursement of actual and necessary expenses incurred in connection
therewith for the period commencing November 1, 2022 through and including November 30,
2022 (the “Fee Period”), pursuant to sections 105(a), 330, and 331 of title 11 of the United States
Code (the “Bankruptcy Code”), Rule 2016 of the Federal Rules of Bankruptcy Procedure
(the “Bankruptcy Rules”), Rule 2016-2 of the Local Rules of Bankruptcy Practice and Procedure
of the United States Bankruptcy Court for the District of Delaware (the “Local Rules”), and the
Court’s Order Establishing Procedures for Interim Compensation and Reimbursement of
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 389 Filed 12/29/22 Page 6 of 16
2
Expenses of Professionals [Docket No. 136] (the “Interim Compensation Order”). In support
of this Fee Statement, Weil respectfully represents as follows:
Background
1.
On October 3, 2022 (the “Petition Date”), the Debtors each commenced
with this Court a voluntary case under chapter 11 of the Bankruptcy Code (the “Chapter 11
Cases”). The Debtors are authorized to continue to operate their business as debtors in possession
pursuant to sections 1107(a) and 1108 of the Bankruptcy Code. No trustee, examiner, or statutory
committee of creditors has been appointed in these Chapter 11 Cases.
2.
Pursuant to Bankruptcy Rule 1015(b), the Chapter 11 Cases are being
jointly administered under the above captioned case.
3.
Additional information regarding the Debtors’ business, capital structure,
and the circumstances leading to the commencement of these Chapter 11 Cases is set forth in the
Declaration of Deborah Rieger-Paganis in Support of Debtors’ Chapter 11 Petitions and First
Day Relief [Docket No. 13].2
4.
This Court authorized Weil’s retention as attorneys for the Debtors pursuant
to the Order Authorizing Retention and Employment of Weil, Gotshal & Manges LLP As Attorneys
For Debtors Effective as of Petition Date [Docket No. 137] (the “Retention Order”), entered on
October 21, 2022.
Jurisdiction
5.
The Court has jurisdiction to consider this matter pursuant to
28 U.S.C. §§ 157 and 1334, and the Amended Standing Order of Reference from the United States
District Court for the District of Delaware, dated February 29, 2012. This is a core proceeding
2 Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Joint
Chapter 11 Plan of Liquidation [Docket No. 14] (the “Plan”).
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 7 of 16
3
pursuant to 28 U.S.C. § 157(b). Venue is proper before the Court pursuant to 28 U.S.C. §§ 1408
and 1409.
6.
Pursuant to Local Rule 9013-1(f), the Debtors consent to the entry of a final
order by the Court in connection with this Fee Statement to the extent that it is later determined
that the Court, absent consent of the parties, cannot enter final orders or judgments consistent with
Article III of the United States Constitution.
Summary of Professional Compensation
and Reimbursement of Expense Requested
7.
By this Fee Statement, Weil requests allowance and payment of
$1,215,737.80 (80% of $1,519,672.25) as compensation for professional services rendered to the
Debtors during the Fee Period and allowance and payment of $11,087.84 as reimbursement for
actual and necessary expenses incurred by Weil during the Fee Period. All services for which
compensation is requested by Weil were performed for or on behalf of the Debtors.
8.
During the Fee Period, Weil received no payment and no promises of
payment from any source for services rendered or to be rendered in any capacity whatsoever in
connection with the matters covered by this Fee Statement. There is no agreement or
understanding between Weil and any other person, other than members of Weil, for the sharing of
compensation to be received for services rendered in these Chapter 11 Cases.
9.
The fees charged by Weil in these Chapter 11 Cases are billed in accordance
with its existing billing rates and procedures in effect during the Fee Period, and in accordance
with the Retention Order.
10.
Weil maintains computerized records of the time spent by all Weil
attorneys, paraprofessionals, and other non-legal staff in connection with the Firm’s representation
of the Debtors. Annexed hereto as Exhibit A are copies of Weil’s itemized time records for
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 8 of 16
4
professionals, paraprofessionals, and other non-legal staff performing services for the Debtors
during the Fee Period. Weil’s time records comply with the requirements set forth in Local
Rule 2016-2 and the Guidelines for Reviewing Applications for Compensation and Reimbursement
of Expenses Filed Under 11 U.S.C. § 330 by Attorneys in Larger Chapter 11 Cases
(the “Guidelines”), including the use of itemized time entries and separate matter numbers for
different project types, as hereinafter described in greater detail.
Summary of Services
11.
The following is a summary of the significant professional services
rendered by Weil during the Fee Period. This summary is organized in accordance with the
internal system of task codes set up by Weil at the outset of these Chapter 11 Cases.3 If a task code
does not appear below, then Weil did not bill significant time for that task code during the Fee
Period, but may bill time for that task code in the future. Certain services performed may overlap
between, or appropriately be allocated to, more than one task code.
a.
AmEx Transaction Investigation (Task Code 003)
Fees: $131,533.00; Total Hours: 112.60
Reviewed and analyzed documents and correspondence related
to the sale of substantially all of the Debtors’ assets to American
Express (“AmEx”) in October 2020 (the “AmEx Transaction”);
Analyzed potential claims and causes of action against certain
parties to the AmEx Transaction;
Drafted and reviewed AmEx Transaction investigation initial
report;
Researched legal issues in connection with the AmEx
Transaction investigation initial report;
3 Exhibit A annexed hereto provides a more detailed description of the services provided during the Fee Period, and
reference should be made thereto for a complete recitation of such services.
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 9 of 16
5
Drafted, reviewed, and revised draft protective order for purposes
of informal discovery; and
Conferred with Weil team, various counsel, and client regarding
the investigation.
b.
Chapter 11 Plan/Plan Confirmation/Implementation (Task Code 009)
Fees: $49,665.00; Total Hours: 41.80
Responded to Plan-related questions and comments from the
client, the Debtors’ advisors, the U.S. Trustee, the Reserve Bank,
and other stakeholders;
Participated on calls with the U.S. Trustee and counsel to various
creditors regarding the Plan; and
Drafted, revised, and reviewed amended Plan and Plan-related
documents.
c.
Corporate Governance / Securities (Task Code 010)
Fees: $71,389.50; Total Hours: 63.60
Prepared board materials and presentations for Board meetings
regarding the chapter 11 cases;
Researched issues related to dissolution of certain entities;
Attended the Debtors’ Board meetings regarding the chapter 11 cases
and prepared minutes thereof; and
Coordinated with Board counsel to among other things, to avoid
duplication of services.
d.
Disclosure Statement / Solicitation / Voting (Task Code 013)
Fees: $134,582.50; Total Hours: 122.20
Reviewed liquidation analysis and discussed with Debtors’
advisors;
Reviewed and responded to the client, the Debtors’ advisors, the
U.S. Trustee, the Reserve Bank, the Department of Justice, and
other stakeholders’ comments to amended Disclosure Statement;
Drafted, revised, and reviewed Disclosure Statement-related
documents;
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 10 of 16
6
Reviewed and revised draft motion to approve Plan solicitation,
voting, and related procedures in accordance with the U.S.
Trustee’s comments; and
Drafted, revised, and reviewed balloting and solicitation
procedures and discussed with claims agent.
e.
Employee Matters (Task Code 014)
Fees: $75,150.50; Total Hours: 69.90
Drafted, revised, and finalized Motion of Debtors For Entry of
Order (I) Approving Debtors’ Retention Program For Certain
Non-Executive Employees and (II) Granting Related Relief
[Docket No. 253] (the “KERP Motion”);
Discussed KERP Motion with client and U.S. Trustee;
Conferred with the Debtors and the Debtors’ advisors regarding
various employee matters, including wages, benefits, severance
and retention matters, and advised the Debtors in connection
therewith;
Drafted and revised employment agreements, resignation letters,
and termination notices; and
Researched various legal issues related to payments to certain
company key employees.
f.
General Case Strategy (incl. Team and Client Calls) (Task Code 017)
Fees: $129,643.00; Total Hours: 113.60
Communicated with the Debtors, members of the various Weil
teams, and other advisors regarding case strategy, pending and
upcoming matters, filings, key dates, and deadlines; and
Participated on regular update calls with the Debtors and their
other advisors regarding chapter 11 cases process, strategy,
priority workstreams, and timeline.
g.
Hearings and Court Matters (Task Code 019)
Fees: $88,159.50; Total Hours: 71.20
Participated on calls with Debtors’ advisors regarding upcoming
hearing and court matters;
Communicated with the Debtors and Debtors’ advisors regarding
certificates of counsel and omnibus orders;
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 11 of 16
7
Prepared for and participated in contested hearing on 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 “CUBI 9019 Motion”), including drafting the agenda
and preparation of witnesses for cross-examination and
testimony; and
Prepared for and attended CUBI Dispute status conference.
h.
Non-Bankruptcy Litigation (incl. CUBI Dispute) (Task Code 021)
Fees: $322,154.00; Total Hours: 264.60
Corresponded with CUBI regarding the CUBI Dispute;
Corresponded with Debtors’ advisors and participated in Weil
internal meetings regarding the CUBI Dispute;
Prepared, researched, and reviewed materials for the CUBI
Dispute;
Drafted and revised a complaint and related pleadings and letters
to the Court regarding the CUBI Dispute;
Drafted, revised, and finalized Debtors’ Motion for an Order (I)
Extending the Deadline by Which the Debtors May Remove Civil
Actions, and (II) Granting Related Relief [Docket No. 284];
Reviewed class action complaint and letter from class action
claimants, and corresponded with opposing counsel; and
Corresponded with Debtors’ advisors regarding various pending
litigations.
i.
Retention / Fee Applications: Non-Weil Professionals (Task Code 026)
Fees: $67,378.50; Total Hours: 66.20
Reviewed and revised executive engagement letters and
corresponded with Debtors’ advisors regarding the same;
Drafted and revised retention motion for Marc Sullivan pursuant
to section 363 of the Bankruptcy Code and researched related
legal issues;
Drafted, revised, and finalized form monthly and interim fee
applications for Debtors’ professionals; and
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 12 of 16
8
Reviewed and provided comments to retained professionals’
monthly fee applications.
j.
Retention / Fee Applications: Weil (Task Code 027)
Fees: $28,605.00; Total Hours: 33.40
Drafted, reviewed, and finalized budget and staffing plan;
Reviewed monthly invoices for compliance with U.S. Trustee
guidelines; and
Drafted, reviewed, and finalized First Monthly Fee Statement of
Weil, Gotshal & Manges LLP for Payment of Compensation and
Reimbursement of Expenses for Period October 3, 2022 Through
October 31, 2022 [Docket No. 321].
k.
Settlements (incl. 9019 Matters) (Task Code 029)
Fees: $301,571.50; Total Hours: 256.60
Drafted, revised, and finalized CUBI 9019 Motion and related
declarations thereto and researched issues related thereto;
Drafted, revised, and finalized Debtors’ Reply in Support of
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.
213];
Drafted, revised, and finalized proposed order related thereto;
and
Corresponded with Debtors and Debtors’ advisors and
participated in meetings regarding the above.
12.
The foregoing professional services performed by Weil were necessary and
appropriate to the administration of these Chapter 11 Cases and were in the best interests of the
Debtors’ estates and their stakeholders. Compensation for the foregoing services as requested is
commensurate with the complexity, importance, and nature of the problems, issues, and tasks
involved. The professional services were performed skillfully and efficiently.
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 13 of 16
9
Actual and Necessary Disbursements
13.
Weil requests allowance of actual and necessary expenses incurred during
the Fee Period in the aggregate amount of $11,087.84. Annexed hereto as Exhibit B is a list of
Weil’s itemized actual and necessary expenses. Weil’s disbursement policies pass through all out-
of-pocket expenses at actual cost or an estimated actual cost when the actual cost is difficult to
determine. For example, with respect to duplication charges, Weil charges $0.10 per black and
white page and $0.50 per color page because the actual cost is difficult to determine. Similarly, as
it relates to computerized research, Weil believes that it does not make a profit on that service as
a whole, although the cost of any particular search is difficult to ascertain. Other reimbursable
expenses (whether the service is performed by Weil in-house or through a third-party vendor)
include, but are not limited to, overtime meals, deliveries, travel, and local transportation.
Reservation of Rights
14.
To the extent time or disbursement charges for services rendered or
disbursements incurred relate to the Fee Period but were not processed prior to the preparation of
this Fee Statement, or Weil has for any other reason not sought compensation or reimbursement
of expenses herein with respect to any services rendered or expenses incurred during the Fee
Period, Weil reserves the right to request additional compensation for such services and
reimbursement of such expenses in a future fee statement.
Notice
15.
Notice of this Fee Statement will be provided in accordance with the Interim
Compensation Order on the Fee Notice Parties (as defined in the Interim Compensation Order).
No further notice is required.
Case 22-10951-CTG Doc 389 Filed 12/29/22 Page 14 of 16
WHEREFORE Weil respectfully requests (a) interim allowance of compensation
for professional services rendered to the Debtors during the Fee Period in the amount of
$1,519,672.25 for actual and necessary costs, and for expenses incurred by Weil during the Fee
Period in the amount of $11,087.84; (b) that, in accordance with the Interim Compensation Order,
the Debtors pay Weil a total of $1,226,825.64 consisting of $1,215,737.80 (representing 80% of
the total amount of fees allowed) and $11,087.84 (representing 100% of the expenses allowed), if
no objections are timely filed and Weil files a certificate of no objection with the Court in
accordance with the Interim Compensation Order; (c) that the interim allowance of such
compensation for professional services rendered and reimbursement of actual and necessary
expenses incurred be without prejudice to Weil’s right to seek such further compensation for the
full value of services performed and expenses incurred; and (d) that the Court grant Weil such
other and further relief as is just.
Dated: December 29, 2022
New York, New York
/s/ Candace M. Arthur
WEIL, GOTSHAL & MANGES LLP
Ray C. Schrock, P.C. (admitted pro hac vice)
Candace M. Arthur (admitted pro hac vice)
Natasha S. Hwangpo (admitted pro hac vice)
Chase A. Bentley (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 389 Filed 12/29/22 Page 15 of 16
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)
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Debtors.1
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(Jointly Administered)
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DECLARATION OF CANDACE M. ARTHUR
I, Candace M. Arthur, hereby declare the following under penalty of perjury:
1.
I am a member with the applicant firm, Weil, Gotshal & Manges LLP
(“Weil” or the “Firm”), and have been admitted to appear before this Court, by order dated
October 4, 2022 [Docket No. 29].
2.
I have personally performed many of the legal services rendered by Weil as
counsel to the Debtors and am thoroughly familiar with the other work performed on behalf of the
Debtors by the lawyers, paraprofessionals, and other non-legal staff in the Firm.
3.
I have reviewed the foregoing Fee Statement, and the facts set forth therein
are true and correct to the best of my knowledge, information and belief. Moreover, I have
reviewed Local Rule 2016-2 and submit that the Fee Statement complies with such rule.
Dated: December 29, 2022
New York, New York
/s/ Candace M. Arthur
Candace M. Arthur
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 389 Filed 12/29/22 Page 16 of 16File and source
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