Court filing
Certification of Counsel — In re KServicing (Dkt. 525, 2023-02-13)
Record facts
| Court | U.S. Bankruptcy Court for the District of Delaware |
|---|---|
| Filed | 2023-02-13 |
U.S. Bankruptcy Court for the District of Delaware · No. 22-10951 · Doc. 525 · 2023-02-13 · Docket on CourtListener
Summary
A Certification of Counsel filed February 13, 2023 as Doc 525 in the jointly administered Chapter 11 cases of Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951 (CTG), in the United States Bankruptcy Court for the District of Delaware. Counsel for the Debtors certifies that on October 11, 2022 Corporation Service Company filed two proofs of claim, Claim no. 955-1 and Claim no. 951-1, and that Claim no. 955-1 asserts a general unsecured claim of $740.00 against Kabbage Asset Funding 2019-A LLC for prepetition services. It states that the Disclosure Statement Order entered January 19, 2023 let the Debtors agree with claim holders on amounts for voting purposes, and that the claim falls in Class 4. The Debtors and the claimant have agreed that it be deemed disallowed solely for voting on the plan, and the certification asks the court to enter the attached proposed order.
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
RLF1 28591633v.2
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. 466, 467 & 470
------------------------------------------------------------ x
CERTIFICATION OF COUNSEL REGARDING ORDER APPROVING
STIPULATION BY AND BETWEEN THE DEBTORS AND CORPORATION SERVICE
COMPANY DISALLOWING A CERTAIN CLAIM SOLELY FOR VOTING PURPOSES
The undersigned hereby certifies as follows:
1.
On October 11, 2022, Corporation Service Company (“CSC”) filed the following
two (2) proofs of claim against the above-captioned debtors (collectively, the “Debtors”):
i.
Claim no. 955-1 against Kabbage Asset Funding 2019-A LLC (the
“Subsidiary Claim”); and
ii.
Claim no. 951-1 against Kabbage, Inc. d/b/a KServicing (the “KS Claim”).
By the Subsidiary Claim, CSC asserts a general unsecured claim against Debtor Kabbage Asset
Funding 2019-A LLC in the amount of $740.00 for services rendered prepetition.
2.
On January 19, 2023, the Court entered the Order (I) Approving the Disclosure
Statement of the Debtors, (II) Establishing Solicitation, Voting, and Related Procedures, (III)
Scheduling Confirmation Hearing, (IV) Establishing Notice and Objection Procedures for
Confirmation of Plan, (V) Approving Special Electronic Noticing Procedures, (VI) Approving
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 525 Filed 02/13/23 Page 1 of 3
2
RLF1 28591633v.2
Debtors’ Proposed Cure Procedures for Unexpired Leases and Executory Contracts, and (VII)
Granting Related Relief [Docket No. 470] (the “Disclosure Statement Order”)2 approving the
Disclosure Statement, which authorized the Debtors to solicit votes to accept or reject the Plan.
3.
Pursuant to the Plan, the Subsidiary Claim is in Class 4 under the Plan (General
Unsecured Claims).
4.
Pursuant to the Disclosure Statement Order, the Tabulation Procedures authorized
the Debtors “to enter into stipulations or other agreements with the holder of any Claim
agreeing to the amount of a Claim for voting purposes.” Disclosure Statement Order ¶ 28;
Motion ¶ 53(l).
5.
The Debtors and CSC have engaged in discussions regarding the Subsidiary
Claim and have agreed that the Subsidiary Claim shall be deemed disallowed, solely for
purposes of voting on the Plan, in accordance with the Disclosure Statement Order and the
terms set forth in the Stipulation By and Between the Debtors and Corporation Service
Company Disallowing a Certain Claim Solely for Voting Purposes (the “Stipulation”), a copy
of which is attached as Exhibit 1 to the proposed form of order (the “Proposed Order”)
attached hereto as Exhibit A.3
2
Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the
Disclosure Statement Order or the Motion (as defined in the Disclosure Statement Order), as applicable.
3
For the avoidance of doubt, the Stipulation does not address the KS Claim and all parties’ rights regarding such
claim are reserved.
Case 22-10951-CTG Doc 525 Filed 02/13/23 Page 2 of 3
3
RLF1 28591633v.2
WHEREFORE, the Debtors respectfully request that the Court enter the Proposed Order,
substantially in the form attached hereto as Exhibit A, at its earliest convenience.
Dated: February 13, 2023
Wilmington, Delaware
/s/ Matthew P. Milana
RICHARDS, LAYTON & FINGER, P.A.
Daniel J. DeFranceschi, Esq. (No. 2732)
Amanda R. Steele (No. 5530)
Zachary I. Shapiro (No. 5103)
Matthew P. Milana (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 (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
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