Court filing
Notice of Certificate/Affidavit of Publication… — In re KServicing Wind Down Corp., et al. (f/k/a Kabbage,… (Dkt. 119)
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A Proof of Publication filed October 18, 2022 as Doc 119 in the jointly administered Chapter 11 cases of Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951 (CTG), in the U.S. Bankruptcy Court for the District of Delaware. Omni Agent Solutions, the claims, noticing and administrative agent, attaches as Exhibit A proof that the Notice of Interim NOL Order and Approved Procedures ran in The New York Times on October 17, 2022. The published notice states that the court entered an interim order on October 3, 2022 setting procedures for transfers of the debtors' common stock, and defines a Substantial Stockholder as a holder of at least 1,848,370 shares, approximately 4.75% of outstanding shares. It sets a final hearing on the motion for November 7, 2022 and a written objection deadline. The filing is 4 pages and includes the full newspaper page.
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Case 22-10951-CTG Doc 119 Filed 10/18/22 Page 1 of 4
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
In re: Chapter 11
KABBAGE, INC. d/b/a KSERVICING, et al., Case No. 22-10951 (CTG)
Debtors.1 (Jointly Administered)
PROOF OF PUBLICATION
Attached hereto as Exhibit A is a Proof of Publication for the Notice of Interim NOL Order and
Approved Procedures from the following:
Publication Publication Date Exhibit
The New York Times October 17, 2022 A
/s/ Randy Lowry
Randy Lowry
Omni Agent Solutions
5955 DeSoto Avenue, Suite 100
Woodland Hills, California 91367
(818) 906-8300
Claims, Noticing, and Administrative Agent for the
Debtor
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 119 Filed 10/18/22 Page 2 of 4
EXHIBIT A
Case 22-10951-CTG Docii9 Filed 10/18/22 Page 3of4
alll Che New ork Cimes
620 8TH AVENUE - NEW YORK, NY 10018
PROOF OF PUBLICATION
Oct-17, 2022
Che New York Times ,
daily newspaper of general circulation printed and published in the City, County and State of New York,
, Edgar Noblesala, in my capacity as a Principal Clerk of the Publisher of
hereby certify that the advertisement annexed hereto was published in the editions of
Ehe New York Cimes
on the following date or dates, to wit on
Oct 17, 2022, NYT & Natl, pg B7
Sworn to me this 17th day
of October, 2022
Ellen Herb
Notary Public, State of New York
No. 01HE6163785
Qualified in New York County
Commission Expires April 2, 2023
ATTENTION DIRECT AND INDIRECT HOLDERS OF,
AND PROSPECTIVE HOLDERS OF STOCK ISSUED BY
KABBAGE, INC. D/B/A KSERVICING:
Upon the motion (the “Motion") of 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”), on October 3,
2022, the United States Bankruptcy Court for the District of Delaware
(the “Bankruptcy Court”), having jurisdiction over the chapter 11
cases of the Debtors, captioned as /n re Kabbage, Inc. d/b/a KServicing, et
al., No. 22-10951 (CTG) (the “Chapter 11 Cases”), entered an interim
order establishing procedures with respect to transfers in the beneficial
ownership (including directly or indirectly) of common stock of the
Debtors (“Common Stock”) and options to acquire beneficial ownership
of Common Stock, and scheduling a hearing on a final order with respect
tosuch procedures.
In certain circumstances, the procedures restrict transactions involy-
ing, and require notices of the holdings of and proposed transactions
by, any person, group of persons, or entity that either (i) is a Substantial
Stockholder of the Common Stock or (ii) as a result of such a transaction,
would become a Substantial Stockholder of the Common Stock. For pur-
poses of the procedures, a “Substantial Stockholder’ is any person or
entity (within the meaning of applicable regulations promulgated by
the U.S. Department of the Treasury, including certain persons making a
coordinated acquisition of stock) that beneficially owns (including options
to acquire and direct or indirect ownership) at least 1,848,370' shares of
Common Stock (representing approximately 4.75% of all issued and out-
standing shares of Common Stockas of the Petition Date). Any prohibited
acquisition or other transfer of Common Stock (including options to
acquire beneficial ownership of Common Stock) will be nulland void
ab initio and may lead: toco Ip ry ges, puni-
ar Patt diwthe Rank yCourt,
Lhd i ipacy
Th. A, dA DPT URE EG)
the Chapter 11 Cases, Docket No. 71, which can be accessed via PACER
athttps://pacer.gov.
Adirect or indirect holder of, or prospective holder of, Common
Stock that may be or become a Substantial Stockholder should
consult the procedures.
PLEASE TAKE NOTICE that the final hearing on the Motion shall be
held on November 7, 2022, at 1:00 p.m. (Prevailing Eastern Time),
and any objections or responses to the Motion shall be in writing, filed
with the Court (with a copy delivered to Chambers), and served upon (i) (x)
Weil, Gotshal & Manges LLP 767 Fifth Avenue, New York, New York 10153
(Attn: Natasha S.Hwangpo and Chase A. Bentley); and (ii) Richards, Layton
& Finger, PA., One Rodney Square, 920 North King Street, Wilmington, DE
19801 (Attn: Amanda R. Steele and Zachary I. Shapiro); (b) the Office of
the United States Trustee for the District of Delaware, 844 N. King Street,
Wilmington, Delaware 19801 (Attn: Richard L. Schepacarter and Rosa
Sierra-Fox); in each case so as to be received no later than 4:00 p.m.
(Prevailing Eastern Time) on October31,2022.
PLEASE TAKE FURTHER NOTICE that the requirements set forth in the
procedures are in addition to the requirements of and applicable securities,
corporate,and otherlaws and do not excuse non-compliance therewith.
Dated: Wilmington, Delaware BY ORDER OFTHE COURT
October 11,2022
RICHARDS, LAYTON & FINGER, P.A., Daniel J. DeFranceschi, Esq. (No.
2732), Amanda R. Steele, Esq. (No.5530), Zachary I. Shapiro, Esq.(No.5103),
Matthew P. Milana, Esq. (No. 6681), One Rodney Square, 920 North King
Street, Wilmington, Delaware 19801, Telephone: (302) 651- 7700, E-mail:
defranceschi@rlf.com, If.com, If.co
com -and- WEIL, GOTSHAL & MANGES LLP, Ray CG Schrock, PC; Candace
M. Arthur, Esq., Natasha S. Hwangpo, Esq., Chase A. Bentley, Esq., 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.
on a final basis, are ‘available on the website of Omni foent
Solutions, Inc., the Debtors Court-app agent, |
https:// vicing, and on the docket of
com, chase.bentl il.com, Proposed Attorneys for Debtors and
Debtorsin Possession
' Asofthe Petition Date, there were 38,913,048 shares of common stock
outstanding.
Case 22-10951-CTG Doc 119 Filed 10/18/22 Page 4 of 4
CMYK Nxxx,2022-10-17,B,007,Bs-BW,E1
THE NEW YORK TIMES BUSINESS MONDAY, OCTOBER 17, 2022 N B7
TRAVEL | RETAIL
TRIPPED UP
Help! A Rental Car Company Charged Me
For Speeding Tickets I Never Received.
Dear Tripped Up,
In September 2021, I rented a car from Europcar in Paris, used it for a day and returned it. The
next month, I saw two charges from Europcar of 45 euros each on my credit card. I wrote to ask
what the charges pertained to and received a response that seemed to imply (although it did not
categorically state) that the charges were fees related to traffic tickets issued to me while I had
the car. Yet I received no traffic tickets. When I asked Europcar for details, I was told they could-
n’t tell me because of privacy regulations. I found that highly doubtful — and somewhat akin to
going to a doctor who claimed she couldn’t tell me my diagnosis for privacy reasons! My credit
card reversed the charges, but Europcar has since sent a collection agency after me. Can you
help? HENRY, SAN FRANCISCO
Dear Henry, Had this happened in the story, I spoke to several people
Renting a car abroad can be United States or many other who received traffic violation
tricky business. Even if you’re countries, the process would notices up to 18 months after
fine with stick shifts and aren’t in have been straightforward. Po- renting a car in Europe. That
one of the many countries where lice run the license plate, connect jarred a memory from my own
people drive on the left (Japan! it to the rental company, send travels, and I unearthed an email PETE RYAN
Barbados!), you still have to over the details of your misdeeds I received in July 2018 from
contend with differing traffic (often with a grainy photo of Sicily By Car, charging me a references to speeding vio- before and another in muddled surance policy offers some cover-
laws, confusing insurance re- your car, caught in the act). The 60-euro processing fee for an lations). English that read: “Regarding age) be less stingy abroad, so
quirements, baffling road signs rental company charges your unspecified traffic fine that I That explains what was sup- the invoice 100229951324, the you don’t have to spend months
and an appalling lack of Cheetos credit card for the fine, plus an never received. posed to happen, but as your customer service canceled, but seeking documentation to be
at highway rest stops. administrative fee and pays the Whether 45 (or 60) euros is an exchanges with Europcar show, after your rejection you were reimbursed. “You don’t want to
But you, sir, have stumbled government. Case closed. appropriate fee for simply pass- and the official at Europcar refunded an amount that you did deal with these international
upon a perfect storm of car rent- But things in the European ing along an address is an open admitted, things got very confus- not pay.” government agencies and po-
al trouble — not a scam, but a Union are more complicated, question, but Europcar and Sicily ing. The whole process got off to Is there anything Americans lice,” he said. “It’s just too much
nightmarish intersection of Euro- thanks in part to a 2018 law by Car both disclose this policy a bad start last October when can do to avoid troubles with of a pain.”
pean privacy laws, molasses-like called the General Data Protec- in their terms and conditions, Europcar notified you in French international rentals? In general, Also, be sure to read up on
bureaucracy, international snail tion Regulation. At least as inter- and companies worldwide have about the fees. That’s their right I recommend favoring compa- local regulations before you
mail and French customer serv- preted by French authorities, it similar policies. In fact, as Eu- as a French company, but Europ- nies based in the United States, travel (starting on this State
ice agents whose English could prohibits government from shar- ropcar told you in one exchange, car told me its policy is to com- because it is easier to deal with Department page) and once you
be clearer. ing data with a third party, in this their policy is to refund that fee municate in English with English customer service if something arrive, ask locals about speed
First, some good news. I had a case, Europcar, about where you upon request if the customer speakers. After you got your goes wrong after you’re back cameras — even in the United
very long video call with a were and what you did. “The does not receive the violation credit card to reverse those home. Jonathan Weinberg, the States and even places you’ve
friendly and forthcoming Europ- regulatory framework is so strict notice in one year. For you, charges, the company wrote to founder and chief executive of been before. For example, in
car official — who asked not to that you are always on the verge Henry, that year actually expired you in December to seek pay- AutoSlash, a discount car rental August, New York City started
be identified because it is against of infringing G.D.P.R.,” said the earlier this month, though the ment (again in French), though, site, agrees with my tactics but operating 750 school zone speed
company policy to speak publicly Europcar official. That’s why all point is moot since you got your for some confusing reason, they for a different reason. “The ma- cameras 24 hours a day. And the
— and he told me the company the company could tell you at bank to reverse the charges. asked for just 45 euros, not the jor rental companies tend to N.Y.P.D. will almost certainly find
made some mistakes in your first is the time and date of your The French Interior Ministry total 90 euros you had originally behave in a more customer- you much faster than the French.
case and would end its attempts offenses, although it eventually told me that fines must be issued been charged. In January, they friendly way,” he said, referring SETH KUGEL
to recover money from you. And determined they were speeding within a year of the infraction, so started responding to your pro- to the familiar brands owned by
some even better news — you infractions of some kind — but you’re almost off the hook. If tests in English, but things soon umbrella companies Enterprise,
actually ended up 45 euros ahead would not tell me how they got they were mailed by Sept. 15 and got weirder. Avis and Hertz. “They are more
of where you started. (More on the additional information. eventually find their way to you, On Jan. 7, they sent you a permissive about small dents
that in a bit.) As required by law, Europcar though, you’ll have to decide confusing “invoice” for “-45 and dings.”
Let’s dissect what happened. turned over your name and San whether to pay or contest them. I euros,” which turns out to have Neil Abrams, a longtime con-
On Sept. 15, 2021, the car you Francisco address to the French should note that a lot of people been a credit to your account, on sultant to the rental car industry,
were driving was flagged by two Interior Ministry, which should ignore fines they get on vacation, top of the money you had already had another sensible tip, though
different traffic cameras at 2:17 have sent you an avis de contra- but I cannot recommend you been refunded by your credit it wouldn’t help with traffic vio-
and 2:22 p.m. This much you vention — the violation notice — take that route (though I admit I card. Four days later came a lations: Even if you are skeptical
already know, from the sparse by mail. But you told me you did scan the 1996 extradition truly confusing exchange of of insurance add-ons on domestic
details Europcar originally sent haven’t received it, which is not treaty between the United States messages, including one imply- car rentals (perhaps because
to you. surprising. In reporting on your and France and unearthed no ing you owed them 45 euros from your credit card or own car in-
How Supermarket Merger
Could Change Landscape
For Stores and Consumers
FROM FIRST BUSINESS PAGE consolidation — all right before
Teeter. the midterm elections. Senator
Albertsons, based in Boise, Bernie Sanders, independent of
Idaho, and founded in 1939, runs Vermont, called the deal an “abso-
2,200 supermarkets under names lute disaster.”
like Albertsons, Safeway and The top Republican on a Senate
Vons. It has a market capitaliza- antitrust subcommittee, Mike Lee
tion of roughly $15 billion. of Utah, said in a statement on Fri-
Together, the grocers said on day that he would do everything
Friday, they will be able to save in his power to “protect con-
millions in operating costs and sumers from anticompetitive
have stronger bargaining power mergers that could further ex-
with suppliers. Analysts said total acerbate the financial strain we al-
cost savings, which the retailers ready feel in the grocery store
said could top $1 billion, was likely checkout aisle.”
a driver for the deal. A White House official said the
administration did not comment
What will this deal do for food on “specific transactions that
prices? could be subject to review by fed-
Kroger and Albertsons argue that eral agencies.” Peter Kaplan, a
their increased size and bargain- spokesman for the Federal Trade
ing power will help them reduce Commission, declined to com-
prices, and that the savings can ment.
then be passed on to their
customers. But lawmakers, regu- What do the companies plan to
lators and consumer advocates of- do to appease regulators?
ten worry that companies will To address likely concerns from
simply redirect any increase in regulators that the two grocers
profit to shareholders. will have too much overlap in cer- ANDREW SPEAR FOR THE NEW YORK TIMES
A 2008 study conducted by Or- tain areas of the country, particu- A Kroger store in a suburb of Cincinnati, where the company is headquartered. Kroger and Albertsons could save over $1 billion in total costs with the deal.
ley C. Ashenfelter, an economist at larly on the West Coast, Kroger
Princeton, and Daniel S. Hosken and Albertsons said they planned
What will regulators be competitor. In 2014, Haggen, a re- and US Foods, called off their $3.5 weigh in.
of the Federal Trade Commission, to sell stores to competitors. They
scrutinizing? tailer in Bellingham, Wash., billion deal in 2015 after a federal Kroger will pay Albertsons
found that in four of the five merg- said they would also consider
bought more than 100 stores that judge had ruled in favor of the $600 million if the deal falls apart
ers they evaluated, prices ap- spinning off up to 375 stores into a Through mergers over the past Albertsons had sold to win ap- F.T.C.’s decision to block it. That over antitrust issues, according to
peared to have increased between separate, stand-alone company, if few decades, the grocery industry proval for its merger with Safe- same year, the F.T.C. blocked a the deal’s terms.
3 and 7 percent. The authors cau- needed. has consolidated in big ways, and way. second attempt by Office Depot
tioned that the study was not nec- Analysts on Friday, however, many have worried that too much A year later, Haggen filed for and Staples to merge. Rite Aid and
essarily a reflection of the impact pushed Kroger executives over power to set prices rests in the bankruptcy and blamed Albert- Reporting was contributed by Mi-
Walgreens walked away from
of all deals. It is unclear whether whether that plan was sufficient, hands of too few corporations. sons for the breakdown of its busi- chael D. Shear, David McCabe, Julie
their $5 billion deal in 2017 before
the dynamics have changed in the and they questioned whether they Kroger and Albertsons have ness. (Albertsons later bought the F.T.C. had a chance to officially Creswell and Jordyn Holman.
years since. might be required to part with been among the most active ac- back 33 of those stores from the
But any increase in prices now more stores. quirers in recent years, including bankrupt company.)
could have a painful impact, as Regardless, legal experts said it through an $8 billion deal for Fred
food prices in general continue to might be difficult for Kroger and Meyer (Kroger in 1998), a $2.5 bil- What happens now?
shoot up. The cost of food across Albertsons to make a case that lion purchase of Harris Teeter The boards of both companies
the United States last month rose they can foster competition while (Kroger in 2013) and a $9 billion unanimously approved the deal.
11 percent from the year before, they simultaneously grow to bet- deal for Safeway (Albertsons in So what remains is regulatory ap-
according to the Bureau of Labor ter take on Walmart. 2015). proval.
Statistics. “The argument kind of says The F.T.C. will most likely look It is unclear if the F.T.C. or an-
The companies for their part we’re going to give up on a lot of at what claims the chains made other agency will try to stop the
suggested on Friday that cost sav- competition and there are only go- about those earlier deals — and deal. But in an attempt to do so, a
ings might not be the same every- ing to be a couple of big players whether they have followed regulator can sue to block the
where. who effectively compete for most through on them. It will also look merger, forcing companies to de-
“It is market-by-market in consumers,” said Daniel Rubin- intently at whether Kroger and cide whether they want to pursue
terms of what we feel like we need feld, a law professor at New York Albertsons can leave room for a the long and costly process of a
to invest to be able to get pricing University who has reviewed viable competitor in markets in trial to prove it is better for them,
where we feel comfortable,” Rod- mergers. which they overlap by selling off their shareholders and their
ney McMullen, Kroger’s chief ex- Investors do not seem opti- stores. customers to combine. Some-
ecutive, said in an analyst call. mistic about the companies’ The track record on such efforts times, they walk away to avoid
chances of a successful merger. is rocky. Smaller competitors do that hassle.
What will the political reaction Shares of Kroger ended trading on not always have the means to ex- The F.T.C. has directly — or indi-
be? Friday down more than 7 percent. pand into those markets, and the rectly — blocked a number of re-
Likely hot, given the focus on in- Shares of Albertsons dropped companies selling those stores tail deals. The two biggest food
flation, food prices and corporate more than 8 percent. may not truly want a new viable distribution companies, Sysco
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