Court filing
Certification of Counsel Regarding Final… — In re KServicing Wind Down Corp., et al. (f/k/a Kabbage, Inc.… (Dkt. 139)
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A certification of counsel filed October 21, 2022 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, as Doc 139. It concerns the proposed final order authorizing the debtors to continue servicing and subservicing activities, sought by a motion filed October 3, 2022 at Docket No. 11. It recounts that the court entered an interim order on October 6, 2022 and that objections to the final relief were due October 19, 2022. The certification states that the debtors received informal comments from the Federal Reserve Bank of San Francisco, that no objection appeared on the docket, and that the revised order was circulated to the United States Trustee and the Federal Reserve, which do not object. It attaches the revised order as Exhibit 1 and a redline comparison as Exhibit 2.
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No. 22-10951 · Doc. 139 · Docket on CourtListener
Full text
Case 22-10951-CTG Doc 139 Filed 10/21/22 Page 1 of 3
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 No. 11, 88 & 89
------------------------------------------------------------ x
CERTIFICATION OF COUNSEL REGARDING FINAL ORDER
AUTHORIZING DEBTORS TO (I) CONTINUE SERVICING AND
SUBSERVICING ACTIVITIES AND (II) PERFORM RELATED OBLIGATIONS
The undersigned hereby certifies as follows:
1. 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”), filed the Motion of Debtors for Interim and Final Orders
Authorizing Debtors to (I) Continue Servicing and Subservicing Activities and (II) Perform
Related Obligations [Docket No. 11] (the “Motion”) with the United States Bankruptcy Court for
the District of Delaware (the “Court”). A proposed form of order granting the relief requested
in the Motion on a final basis was attached to the Motion as Exhibit B (the “Proposed Final
Order”).
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.
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Case 22-10951-CTG Doc 139 Filed 10/21/22 Page 2 of 3
2. On October 6, 2022, the Court entered the Interim Order Authorizing
Debtors to (I) Continue Servicing and Subservicing Activities and (II) Perform Related
Obligations [Docket No. 88] (the “Interim Order”).
3. Pursuant to the Interim Order and the Notice of (A) Entry of Interim Order
Authorizing Debtors to (I) Continue Servicing and Subservicing Activities and (II) Perform
Related Obligations; and (B) Final Hearing Thereon [Docket No. 89], objections or responses to
the final relief requested in the Motion, if any, must be made in writing and filed with the Court
on or before October 19, 2022 at 4:00 p.m. (prevailing Eastern Time) (the “Objection Deadline”).
4. The Debtors received certain informal comments (the “Comments”) to the
Proposed Final Order and the relief requested in the Motion from the Federal Reserve Bank of San
Francisco (the “Federal Reserve”). Other than the comments, the Debtors received no other
informal responses to the Motion, and no objection or responsive pleading to the Motion has
appeared on the Court’s docket in these chapter 11 cases.
5. The Debtors have revised the Proposed Final Order (the “Revised Order”)
to resolve the Comments and to incorporate revisions consistent with those made to the Interim
Order following the hearing held on October 6, 2022. A copy of the Revised Order is attached
hereto as Exhibit 1. The Revised Order has been circulated to the Office of the United States
Trustee for the District of Delaware and the Federal Reserve, and the aforementioned parties do
not object to the entry of the Revised Order. For the convenience of the Court and all parties in
interest, a redline comparison of the Revised Order marked against the Proposed Final Order is
attached hereto as Exhibit 2.
2
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Case 22-10951-CTG Doc 139 Filed 10/21/22 Page 3 of 3
WHEREFORE the Debtors respectfully request that the Revised Order be entered
at the earliest convenience of the Court.
Dated: October 21, 2022
Wilmington, Delaware
/s/ Amanda R. Steele
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
steele@rlf.com
shapiro@rlf.com
milana@rlf.com
-and-
WEIL, GOTSHAL & MANGES LLP
Ray C. Schrock, P.C. (admitted pro hac vice)
Candace M. Arthur, Esq. (admitted pro hac vice)
Natasha S. Hwangpo, Esq. (admitted pro hac vice)
Chase A. Bentley, Esq. (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
Proposed Attorneys for Debtors
and Debtors in Possession
3
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