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Home Court filings Kservicing Bankruptcy Certification of Counsel Regarding Revised… — In re KServicing Wind Down Corp., et al.…

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Certification of Counsel Regarding Revised… — In re KServicing Wind Down Corp., et al. (f/k/a Kabbage, Inc.… (Dkt. 171)

Summary

A certification of counsel regarding a revised proposed order authorizing the retention of Richards, Layton & Finger, P.A. as co-counsel to the debtors, filed October 27, 2022 as Doc 171 in In re Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951 (CTG), the jointly administered Chapter 11 cases in the District of Delaware. It certifies that the debtors filed the retention application on October 4, 2022 [Docket No. 46] and that the objection deadline under the notice of hearing [Docket No. 51] was October 19, 2022. It states that the Office of the United States Trustee provided informal comments before that deadline, and that a supplemental declaration by the firm was filed the same day [Docket No. 170]. A revised order is attached as Exhibit 1 and a redline as Exhibit 2; the filing states that the U.S. Trustee and the Federal Reserve Bank of San Francisco do not object.

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No. 22-10951 · Doc. 171 · Docket on CourtListener

Full text

                   Case 22-10951-CTG              Doc 171       Filed 10/27/22        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. 46, 51 & 170
------------------------------------------------------------ x
           CERTIFICATION OF COUNSEL REGARDING REVISED PROPOSED
               ORDER AUTHORIZING RETENTION AND EMPLOYMENT OF
                 RICHARDS, LAYTON & FINGER, P.A. AS CO-COUNSEL TO
                      THE DEBTORS EFFECTIVE AS OF PETITION DATE

                    The undersigned hereby certifies as follows:

                    1.       On October 4, 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 Application of Debtors to Retain and Employ Richards,

Layton & Finger, P.A. as Co-Counsel to the Debtors Effective as of Petition Date [Docket No. 46]

(the “Application”) with the United States Bankruptcy Court for the District of Delaware (the

“Court”).        A proposed form of order granting the relief requested in the Application was attached

to the Application as Exhibit A (the “Proposed Order”).

                    2.       Pursuant to the Notice of Application and Hearing [Docket No. 51],

objections or responses to the relief requested in the Application, if any, must be made in writing



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.



RLF1 28103518v.1
                   Case 22-10951-CTG     Doc 171      Filed 10/27/22   Page 2 of 3




and filed with the Court on or before October 19, 2022 at 4:00 p.m. (prevailing Eastern Time) (the

“Objection Deadline”).

                   3.    Prior to the Objection Deadline, the Debtors received certain informal

comments (the “Comments”) to the relief requested in the Application from the Office of the

United States Trustee for the District of Delaware (the “U.S. Trustee”).

                   4.    On October 27, 2022, Richards, Layton & Finger, P.A. filed the

Supplemental Declaration of Daniel J. DeFranceschi in Support of Application of Debtors to

Retain and Employ Richards, Layton & Finger, P.A. as Co-Counsel to the Debtors Effective as of

Petition Date [Docket No. 170] (the “Supplemental Declaration”).

                   5.    To resolve the Comments, the Debtors have prepared a revised form of

Proposed Order (the “Revised Order”), attached hereto as Exhibit 1.        Additionally, the filing of

the Supplemental Declaration further resolves the Comments.         The Revised Order has been

circulated to the U.S. Trustee and the Federal Reserve Bank of San Francisco, 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 Order is attached hereto as Exhibit 2.



                            [Remainder of page intentionally left blank]




                                                  2
RLF1 28103518v.1
                   Case 22-10951-CTG        Doc 171     Filed 10/27/22   Page 3 of 3




                   WHEREFORE the Debtors respectfully request that the Revised Order be entered

at the earliest convenience of the Court.

 Dated: October 27, 2022
        Wilmington, Delaware

                                            /s/ Zachary I. Shapiro
                                            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
RLF1 28103518v.1


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