Court filing
Notice of Filing of Executed Wind Down Agreement — In re KServicing
Summary
A notice of filing of the executed Wind Down Agreement in In re Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951 (CTG), filed May 11, 2023 as Doc 814 in the United States Bankruptcy Court for the District of Delaware. The notice recites that the debtors commenced their jointly administered chapter 11 cases on October 3, 2022, that they filed a third plan supplement on March 9, 2023 attaching a revised Wind Down Agreement as Exhibit E, and that the Court entered an order confirming the plan on March 15, 2023. It states that the debtors and the Wind Down Officer entered into the Wind Down Agreement on April 28, 2023, that the agreement becomes effective only on the Effective Date, and that the Effective Date had not yet occurred. An executed copy is attached as Exhibit A and a blackline comparison as Exhibit B. The notice is three pages.
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No. 22-10951 · Doc. 814 · Docket on CourtListener
Full text
Case 22-10951-CTG Doc 814 Filed 05/11/23 Page 1 of 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
---------------------------------------------------------- x
: Chapter 11
In re :
: Case No. 22-10951 (CTG)
KABBAGE, INC. d/b/a KSERVICING, et al., :
: (Jointly Administered)
:
1 Re: Docket Nos. 627, 630 & 680
Debtors. :
:
---------------------------------------------------------- x
NOTICE OF FILING OF EXECUTED WIND DOWN AGREEMENT
PLEASE TAKE NOTICE that on October 3, 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”), commenced cases under chapter 11 of title 11 of
the United States Code in the United States Bankruptcy Court for the District of Delaware (the
“Court”).
PLEASE TAKE FURTHER NOTICE that on March 9, 2023, the Debtors filed
the Notice of Filing of Third Supplement to the Amended Joint Chapter 11 Plan of Liquidation of
Kabbage, Inc. (d/b/a KServicing) and its Affiliated Debtors [Docket No. 630] (the “Third Plan
Supplement”) in connection with the Amended Joint Chapter 11 Plan of Liquidation of Kabbage,
Inc. (d/b/a KServicing) and its Affiliated Debtors [Docket No. 630] (as amended, modified, and
supplemented, the “Plan”).2 Attached as Exhibit E to the Third Plan Supplement was a revised
version of the Wind Down Agreement.
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.
2
Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Plan.
RLF1 28889140v.2
Case 22-10951-CTG Doc 814 Filed 05/11/23 Page 2 of 3
PLEASE TAKE FURTHER NOTICE that on March 15, 2023, the Court entered
an order [Docket No. 680] confirming the Plan. As of the date of filing of this notice, the Effective
Date has not yet occurred.
PLEASE TAKE FURTHER NOTICE that, on April 28, 2023, the Debtors and
Jeremiah Foster, in his capacity as the Wind Down Officer, entered into the Wind Down
Agreement. An executed copy of the Wind Down Agreement is attached hereto as Exhibit A.
Pursuant to section 1 of the Wind Down Agreement, notwithstanding that the Wind Down
Agreement was executed on April 28, 2023, the Wind Down Agreement shall only become
effective on the Effective Date. For the convenience of the Court and all parties in interest, a
blackline comparison of the executed Wind Down Agreement marked against the version of the
Wind Down Agreement that was attached to the Third Plan Supplement is attached hereto as
Exhibit B.
[Remainder of page intentionally left blank]
2
RLF1 28889140v.2
Case 22-10951-CTG Doc 814 Filed 05/11/23 Page 3 of 3
Dated: May 11, 2023
Wilmington, Delaware
/s/ Matthew P. Milana
RICHARDS, LAYTON & FINGER, P.A.
Daniel J. DeFranceschi (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
3
RLF1 28889140v.2
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