First Interim Fee Application (Notice) — In re KServicing

Record facts

U.S. Bankruptcy Court for the District of Delaware · No. 22-10951 · Doc. 531 · 2023-02-14 · Docket on CourtListener

Full text

RLF1 28441241v.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) 
 
: 
 
 
: 
(Jointly Administered) 
 
 
Debtors.1 
: 
 
 
: 
: 
Obj. Deadline: March 6, 2023 at 4:00 p.m. (ET) 
Hearing: March 22, 2023 at 10:00 a.m. (ET) 
------------------------------------------------------------ x 
 
NOTICE OF FIRST INTERIM FEE APPLICATION 
REQUEST OF RICHARDS, LAYTON & FINGER, P.A. 
 
Name of applicant (the “Applicant”): 
Richards, Layton & Finger, P.A. 
Authorized to provide professional services to: 
the above-captioned debtors and debtors in 
possession 
Date of retention: 
October 28, 2022 nunc pro tunc to October 3, 2022 
Period for which compensation and 
reimbursement is sought: 
October 3, 2022 through December 31, 2022 
Amount of compensation sought as 
actual, reasonable, and necessary: 
$835,079.50 
Amount of expense reimbursement sought 
as actual, reasonable, and necessary: 
$13,756.73 
 
This is a(n):    X   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. 
Case 22-10951-CTG    Doc 531    Filed 02/14/23    Page 1 of 4

2 
 
Summary of fee applications for the compensation period: 
 
 
Total Amount Requested 
Total Amount Approved 
to Date via Certification 
of No Objection 
Holdback 
Fees 
Requested 
Date 
Filed and 
Docket 
No. 
Period 
Covered 
Fees 
Expenses 
Fees  
(@ 80%) 
Expenses 
(@ 100%) 
Fees 
(@ 20%) 
12/2/22 
[D.I. 327] 
10/3/22 – 
10/31/22 
$344,163.50 
$2,605.35 
$275,330.80 
$2,605.35 
$68,832.70 
1/4/23 
[D.I. 407] 
11/1/22 – 
11/30/22 
$288,304.50 
$9,556.64 
$230,643.60 
$9,556.64 
$57,660.90 
2/1/23 
[D.I. 511] 
12/1/22 – 
12/31/22 
$202,611.50 
$1,594.74 
$0.00 
Pending 
objection 
deadline of 
2/21/23 
$0.00 
Pending 
objection 
deadline of 
2/21/23 
$0.00 
Pending 
objection 
deadline of 
2/21/23 
Total: 
 
$835,079.50 
$13,756.73 
$505,974.40 
$12,161.99 $126,493.60 
 
Summary of any objections to fee applications:  None. 
PLEASE TAKE NOTICE that, pursuant to the Court’s Order Establishing 
Procedures for Interim Compensation and Reimbursement of Expenses of Professionals, dated 
October 21, 2022 [Docket No. 136] (the “Interim Compensation Order”)2, objections, if any, to 
this Interim Fee Application must be filed with the Court by March 6, 2023 at 4:00 p.m. (ET) 
and served on the Applicant at the address set forth below and the Notice Parties. 
PLEASE TAKE FURTHER NOTICE that a hearing to consider this Interim Fee 
Application will be held on March 22, 2023 at 10:00 a.m. (ET) before the Honorable J. Kate 
Stickles, United States Bankruptcy Judge for the District of Delaware, at the Court, 824 N. Market 
Street, 5th Floor, Courtroom No. 6, Wilmington, Delaware 19801. 
 
2 Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Interim 
Compensation Order. 
Case 22-10951-CTG    Doc 531    Filed 02/14/23    Page 2 of 4

3 
 
PLEASE TAKE FURTHER NOTICE that, (i) attached hereto as Exhibit A is a 
summary of compensation by each professional of the Applicant that worked on the above-
captioned chapter 11 cases, (ii) attached hereto as Exhibit B is a summary of compensation by 
project category, (iii) attached hereto as Exhibit C is an expense summary, (iv) attached hereto as 
Exhibit D are the Applicant’s customary and comparable compensation disclosures, (v) attached 
hereto as Exhibit E is the Budget for Richards, Layton & Finger, P.A., as Co-Counsel to the 
Debtors, for the Period from October 3, 2022 through December 31, 2022 (the “Budget”) and the 
Staffing Plan for Richards, Layton & Finger, P.A., as Co-Counsel to the Debtors, for the Period 
from October 3, 2022 through December 31, 2022 (the “Staffing Plan”), (vi) attached hereto as 
Exhibit F is a summary of fees and hours budgeted compared to fees and hours billed, 
(vii) attached hereto as Exhibit G are certain additional disclosures related to the Interim Fee 
Application and (viii) attached hereto as Exhibit H is a certification, wherein an attorney of the 
Applicant certifies to certain matters addressed in the Interim Compensation Order. 
Case 22-10951-CTG    Doc 531    Filed 02/14/23    Page 3 of 4

4 
 
IF NO TIMELY OBJECTIONS ARE FILED TO THIS INTERIM FEE 
APPLICATION, THE COURT, IN ACCORDANCE WITH THE TERMS OF THE 
INTERIM COMPENSATION ORDER, MAY ENTER AN ORDER GRANTING THIS 
INTERIM FEE APPLICATION WITHOUT A HEARING. 
Dated: 
February 14, 2023 
 
Wilmington, Delaware 
/s/ Amanda R. Steele 
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 
 
Attorneys for the Debtors and Debtors in 
Possession  
 
 
Case 22-10951-CTG    Doc 531    Filed 02/14/23    Page 4 of 4

File and source

File

gov.uscourts.deb.188293.531.0.pdf

Size

202,661 bytes

SHA-256

d3330f03f3753a9ff33ff5417881afc69ad593bc6ed7f875ea0a149249cda2ac

Our copy

gov.uscourts.deb.188293.531.0.pdf

Original

archive.org