Court filing
Order Sustaining Fourth Omnibus Objection to PPP Borrower Claims — In re KServicing (Bankr. D. Del.)
Filed November 1, 2024 in Kservicing Bankruptcy; one of 140 filings from this case.
Record facts
| Court | U.S. Bankruptcy Court for the District of Delaware |
|---|---|
| Filed | 2024-11-01 |
U.S. Bankruptcy Court for the District of Delaware · No. 22-10951 · Doc. 1074 · 2024-11-01 · Docket on CourtListener
Full text
Case 22-10951-CTG Doc 1074 Filed 11/01/24 Page 1 of 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: Chapter 11 KServicing Wind Down Corp., et al.,1 Case No. 22-10951 (CTG) Post-Confirmation Debtors. (Jointly Administered) Re: Docket No. 1054 ORDER SUSTAINING KSERVICING WIND DOWN CORPORATION’S FOURTH (SUBSTANTIVE) OMNIBUS OBJECTION TO CERTAIN PROOFS OF CLAIMS [PPP BORROWER CLAIMS] Upon the fourth omnibus objection (the “Objection”) of KServicing Wind Down Corporation (“KServicing WD”), for entry of an order (this “Order”) sustaining the Objection and disallowing and expunging in their entirety the Claims set forth in Schedule 1 attached hereto, and this Court having jurisdiction to consider the Objection 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; and this Court being able to issue a final order consistent with Article III of the United States Constitution; and venue of these Chapter 11 Cases and the Objection in this district being proper pursuant to 28 U.S.C. §§ 1408 and 1409; and this matter being a core proceeding pursuant to 28 U.S.C. § 157(b); and this Court having found that proper and adequate notice of the on and the relief requested therein has been provided in accordance with the Bankruptcy Rules and the Local Rules, and that, except as otherwise ordered herein, no other or further notice is necessary; and responses (if any) to the Objection having been withdrawn, The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, as applicable are: KServicing Wind Down Corp. (f/k/a Kabbage, Inc. d/b/a KServicing) (3937); KServicing Wind Down Canada Holdings LLC (f/k/a Kabbage Canada Holdings, LLC) (N/A); KServicing Wind Down Asset Securitization LLC (f/k/a Kabbage Asset Securitization LLC) (N/A); KServicing Wind Down Asset Funding 2017-A LLC (f/k/a Kabbage Asset Funding 2017-A LLC) (4803); KServicing Wind Down Asset Funding 2019-A LLC (f/k/a Kabbage Asset Funding 2019-A LLC) (8973); and KServicing Wind Down Diameter LLC (f/k/a Kabbage Diameter, LLC) (N/A). The Debtors’ mailing and service address is 925B Peachtree Street NE, Suite 383, Atlanta, GA 30309. 1 17008508/1 Case 22-10951-CTG Doc 1074 Filed 11/01/24 Page 2 of 3 resolved or overruled on the merits; and a hearing having been held to consider the relief requested in the Objection and upon the record of the hearing and all of the proceedings had before this Court; and this Court having found and determined that the relief set forth in this Order is in the best interests of the Debtors and their estates; and that the legal and factual bases set forth in the Objection establish just cause for the relief granted herein; and after due deliberation and sufficient cause appearing therefore; IT IS HEREBY ORDERED THAT: 1. The Objection is SUSTAINED as set forth herein. 2. Each Claim set forth in Schedule 1 attached hereto is disallowed and expunged in its entirety. 3. This Order has no res judicata, estoppel, or other effect on the validity, allowance, or disallowance of, and all rights to object to or defend on any basis are expressly reserved with respect to any claims referenced or identified in the Objection that is not listed on Schedule 1 attached hereto. 4. KServicing WD’s right to object on any other grounds that KServicing WD discovers is preserved. 5. To the extent a response is filed regarding any claim, each such claim, and the Objection as it pertains to such claim, will constitute a separate contested matter as contemplated by Bankruptcy Rule 9014. This Order will be deemed a separate order with respect to each claim. Any stay of this Order pending appeal by any claimants whose claims are subject to this Order shall only apply to the contested matter that involves such claimant and shall not act to stay the applicability and/or finality of this Order with respect to the other contested matters listed in the Objection or this Order. 2 17008508/1 Case 22-10951-CTG 6. Doc 1074 Filed 11/01/24 Page 3 of 3 KServicing WD is authorized and empowered to execute and deliver such documents, and to take and perform all actions necessary to implement and effectuate the relief granted in this Order. 7. Nothing in this Order or the Objection is intended or shall be construed as a waiver of any of the rights KServicing WD may have to enforce rights of setoff against the claimants. 8. Nothing in the Objection or this Order, nor any actions or payments made by KServicing WD pursuant to this Order, shall be construed as: (a) an admission as to the amount of, basis for, or validity of any claim against KServicing WD under the Bankruptcy Code or other applicable non-bankruptcy law; (b) a waiver of the KServicing WD or any other party in interest’s right to dispute any claim; (c) a promise or requirement to pay any particular claim; (d) an implication or admission that any particular claim is of a type specified or defined in this Order; (e) an admission as to the validity, priority, enforceability, or perfection of any lien on, security interest in, or other encumbrance on property of KServicing WD or the Debtors’ estates; or (f) a waiver of any claims or causes of action which may exist against any entity under the Bankruptcy Code or any other applicable law. 9. This Order is immediately effective and enforceable, notwithstanding the possible applicability of Bankruptcy Rule 6004(h) or otherwise. 10. This Court shall retain jurisdiction with respect to any matters, claims, rights or disputes arising from or related to the Objection or the implementation of this Order. Dated: November 1st, 2024 Wilmington, Delaware CRAIG T. GOLDBLATT UNITED STATES BANKRUPTCY JUDGE 3 17008508/1 Case 22-10951-CTG Doc 1074-1 Filed 11/01/24 Schedule 1 17008508/1 Page 1 of 4 Case 22-10951-CTG Name of Claimant Doc 1074-1 Filed 11/01/24 Page 2 of 4 Claim Date Filed Claim Number Debtor ƬʹͲͳ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦͺ ̈́͵ǡͺǤͲͲ ǡ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦͳͳ͵ ̈́ǡͳ͵͵ǤͲͲ ǡ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦͷ ̈́ǡʹʹǤͲͲ ǡ ͳͳȀͳͷȀʹͲʹʹ ͻͷͳǦ͵Ͳ ̈́͵ǡͻͲͲǤͲͲ Ǥ ͳʹȀ͵ȀʹͲʹʹ ͻͷͳǦʹͲͶ ̈́ͳǡʹͷͲǤͲͲ ǡ ͳʹȀʹͳȀʹͲʹʹ ͻͷͳǦʹʹͲ ǡ ͳʹȀͷȀʹͲʹʹ ͻͷͳǦͳͻͻ ̈́ͷǡͲͲͲǤͲͲ ǡ ͺȀͻȀʹͲʹ͵ ͻͷͳǦʹͲ ̈́ͳͲǡͷʹͶǤͲͲ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦͺͳ ̈́͵ǡͷͳͶǤͲͲ ǡ ͳʹȀʹȀʹͲʹʹ ͻͷͳǦͳͻʹ ̈́͵ǡͷͺʹǤͲͲ Ǧ ͳͳȀ͵ͲȀʹͲʹʹ ͻͷͳǦͳͷ ̈́ͳͻǡͳͳǤͲͲ ͳʹȀȀʹͲʹʹ ͻͷͳǦʹͲʹ ̈́ͺǡͷͶǤͲͲ ǡ ͳʹȀͳʹȀʹͲʹʹ ͻͷͳǦʹͳ ̈́ʹͲǡͺ͵͵ǤͲͲ ǡ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦͺ ̈́ͶǡʹǤͲͲ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦͻ ̈́ǡ͵ͺͻǤͲͲ ǡ ͳȀͳʹȀʹͲʹ͵ ͻͷͳǦʹʹͺ ̈́ͷǡͲͲͲǤͲͲ ǡ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦͲ ̈́ͶǡͶͶͻǤͲͲ ̵Ƭ ʹȀʹʹȀʹͲʹ͵ ͻͷͳǦʹ͵ͻ ̈́ʹͲǡͺ͵͵ǤͲͲ ǡ ͳͳȀͺȀʹͲʹʹ ͻͷͳǦͻ ̈́ͳ͵ǡͻͷͶǤͺͳ ǡ ͳʹȀʹȀʹͲʹʹ ͻͷͳǦͳͻͶ ̈́͵ǡ͵ͶͻǤʹ ǡ ͳʹȀͷȀʹͲʹʹ ͻͷͳǦͳͻ ǡ ͳͳȀͳͷȀʹͲʹʹ ͻͷͳǦʹͶ ̈́ʹǡͺͲͲǤͲͲ ǡ ͳͳȀʹʹȀʹͲʹʹ ͻͷͳǦͷͶ ̈́ͳͻǡͻͳͺǤͲͲ ǡ ͳͳȀ͵ͲȀʹͲʹʹ ͻͷͳǦͳͶͳ ̈́ͺǡͻǤͲͲ ͳʹȀʹȀʹͲʹʹ ͻͷͳǦͳͻ͵ ̈́ͳͷ͵ǡͶͷʹǤͲͲ ǡ ͳͳȀʹͻȀʹͲʹʹ ͻͷͳǦͻͻ 1 Claim Amount Case 22-10951-CTG Doc 1074-1 Filed 11/01/24 Page 3 of 4 Name of Claimant Claim Date Filed Claim Number Debtor ǡ ͶȀ͵ȀʹͲʹ͵ ͻͷͳǦʹͶͺ ǡ ͳʹȀͳͻȀʹͲʹʹ ͻͷͳǦʹͳͺ ̈́ʹͲǡͺ͵͵ǤͲͲ ͳͳȀͳʹȀʹͲʹʹ ͻͷͳǦʹ ̈́ͳͶǡͲͲͲǤͲͲ ǡ ͳͳȀͺȀʹͲʹʹ ͻͷͳǦͳͲ ̈́ʹǡͺͲ͵ǤͲͲ ͳͲȀʹͺȀʹͲʹʹ ͻͷͳǦʹ ̈́ͳǡͺͲǤͳ ǡ ͳʹȀͶȀʹͲʹʹ ͻͷͳǦͳͺʹ ̈́ʹͲǡͺͲͲǤͲͲ ǡ ͳʹȀͷȀʹͲʹʹ ͻͷͳǦʹͲ͵ ̈́ͺǡͲͲͲǤͲͲ ǡ ͳͳȀ͵ͲȀʹͲʹʹ ͻͷͳǦͳͶ ̈́͵Ͳǡͺ͵͵ǤͲͲ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦͳͲ ̈́͵ǡͲͳͳǤͲͲ ǡ ͳͳȀ͵ͲȀʹͲʹʹ ͻͷͳǦͳ͵ ̈́ͳǡʹͶͺǤͲͲ ǡ ͳʹȀͷȀʹͲʹʹ ͻͷͳǦʹͲͲ ZŝƐĐŚĞƌ͕DŝĐŚĂĞů ϭϭͬϯϬͬϮϬϮϮ ϵϱϭͲϭϰϬ <^ĞƌǀŝĐŝŶŐ ΨϭϮ͕ϱϰϭ͘ϬϬ ǡ ͳʹȀͷȀʹͲʹʹ ͻͷͳǦʹͲͺ ̈́ͳͳʹǡͲǤͲͲ ǡ ͳʹȀͷȀʹͲʹʹ ͻͷͳǦʹͳͲ ̈́ͳͳʹǡͲǤͲͲ ǡ ͳʹȀȀʹͲʹʹ ͻͷͳǦʹͳͶ ̈́ͳͳʹǡͲǤͲͲ ǡ ͳͳȀʹͻȀʹͲʹʹ ͻͷͳǦͳʹͲ ̈́ʹͲǡͷͺǤͲͲ Ƭ ͵Ȁͳ͵ȀʹͲʹ͵ ͻͷͳǦʹͶ͵ ̈́ͳͻǡͻͲǤͲͲ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦ͵ ̈́ͷǡͳʹͶǤͲͲ Ƭ ǡ ͳʹȀͷȀʹͲʹʹ ͻͷͳǦͳͻͺ ̈́ͺͺǡͲ͵ǤͲͲ α͵ǡ Ǥ ͳȀͶȀʹͲʹ͵ ͻͷͳǦʹʹͷ ̈́ͳ͵ǡͳͻǤͲͲ ǡ ͳȀ͵ͲȀʹͲʹ͵ ͻͷͳǦʹ͵ʹ ̈́ͳͶǡͲͲͲǤͲͲ ǡ ͳͳȀʹͻȀʹͲʹʹ ͻͷͳǦͳͲͺ ̈́ͳǡ͵ͺǤͲͲ ǡ ͳͳȀ͵ͲȀʹͲʹʹ ͻͷͳǦͳͷʹ ̈́ʹǡ͵͵ǤͶ ǡ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦͳͺ ̈́ͳͻǡͳͻǤͲͲ ǡ ͳͳȀͳͺȀʹͲʹʹ ͻͷͳǦͶͲ ̈́ͷǡ͵ʹͳǤͲͲ ǡ ͳͳȀ͵ͲȀʹͲʹʹ ͻͷͳǦͳͷ ̈́ͷǡͶ͵ǤͲͺ 2 Claim Amount Case 22-10951-CTG Name of Claimant Doc 1074-1 Filed 11/01/24 Page 4 of 4 Claim Date Filed Claim Number Debtor ǡ ͳͳȀʹ͵ȀʹͲʹʹ ͻͷͳǦͶ ̈́ʹͲǡʹͳǤͲͲ ͲǦͲͺͳͳ ͳʹȀ͵ȀʹͲʹʹ ͻͷͳǦͳͻͷ ̈́ͳͲǡʹʹǤͲͲ ǡ ʹȀȀʹͲʹ͵ ͻͷͳǦʹ͵Ͷ ̈́ͶʹǡͲʹ͵Ǥͷ ǡ ͳͳȀʹͶȀʹͲʹʹ ͻͷͳǦͶͻ ̈́ͶʹǡͲʹ͵Ǥͷ ǡ ͳͳȀ͵ͲȀʹͲʹʹ ͻͷͳǦͳ͵ͻ ̈́ͻǡͳͺǤͲͲ ʹȀʹʹȀʹͲʹ͵ ͻͷͳǦʹ͵ͺ ̈́ʹͲǡͺ͵͵ǤͲͲ ƬǦ ʹȀͳͺȀʹͲʹ͵ ͻͷͳǦʹ͵ ̈́ʹͺǡͷʹǤͲͲ Ǧǡ ͳʹȀȀʹͲʹʹ ͻͷͳǦʹͲ ̈́ͳͻǡͲǤͺʹ ͳͳȀ͵ͲȀʹͲʹʹ ͻͷͳǦͳ͵ ̈́ͳͲǡͷͷͲǤͲͲ ǡ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦ͵ ̈́ǡͻͻͶǤͲͲ Ǧǡ Ǥ ͳͳȀ͵ͲȀʹͲʹʹ ͻͷͳǦͳͷͺ ̈́͵͵͵ǡͻͶͲǤͶ ͳʹȀȀʹͲʹʹ ͻͷͳǦʹͳͳ ̈́ͻǡ͵ͶǤͲͲ ͳͳȀȀʹͲʹʹ ͻͷͳǦʹͳ ̈́ǡͷ͵͵Ǥ͵ͷ Ȁʹ͵ȀʹͲʹ͵ ͻͷͳǦʹͷ͵ ̈́͵ǡͷͳͷǤͷͲ ǡ ͳͳȀ͵ͲȀʹͲʹʹ ͻͷͳǦͳͲ ̈́ʹǡͶͳǤͲͲ ǡ ͵Ȁ͵ȀʹͲʹ͵ ͻͷͳǦʹͶʹ ǡ ͳʹȀͺȀʹͲʹʹ ͻͷͳǦʹͳ͵ ̈́ʹͲǡͲͲͲǤͲͲ ǡ ͳͳȀʹͻȀʹͲʹʹ ͻͷͳǦͻͲ ̈́ʹͲǡͺ͵͵ǤͲͲ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦͳͳ ̈́ͶǡͲ͵ǤͲͲ ͶȀʹͺȀʹͲʹ͵ ͻͷͳǦʹͷʹ ̈́ͷͲͲǤͲͲ ǡ ͳͳȀʹͺȀʹͲʹʹ ͻͷͳǦͷͳ ̈́ͳͶǡͲͻͶǤͲ ǡ ͳͳȀʹ͵ȀʹͲʹʹ ͻͷͳǦͶ ̈́ǡͲͲͲǤͲͲ ͳͳȀ͵ȀʹͲʹʹ ͻͷͳǦͳͶ ̈́ͻǡͶʹǤͶ 3 Claim Amount
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