Court filing
Notice of Hearing to Consider Approval of… — In re KServicing Wind Down Corp., et al. (f/k/a Kabbage, Inc.… (Dkt. 98)
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A notice of hearing dated October 12, 2022, filed as Doc 98 by the debtors in In re Kabbage, Inc. d/b/a KServicing et al., Case No. 22-10951 (CTG), jointly administered Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. It gives notice that the debtors filed their Joint Chapter 11 Plan of Liquidation on October 4, 2022 and the accompanying disclosure statement on October 5, 2022. A hearing before Judge Craig T. Goldblatt to consider whether the disclosure statement contains adequate information under section 1125 of the Bankruptcy Code is set for November 21, 2022. Objections must be filed and served by November 14, 2022, and the notice states it is not a solicitation of votes on the plan. It is signed by proposed debtors' counsel Richards, Layton & Finger and Weil, Gotshal & Manges LLP.
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No. 22-10951 · Doc. 98 · Docket on CourtListener
Full text
Case 22-10951-CTG Doc 98 Filed 10/12/22 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)
:
: (Jointly Administered)
Debtors. 1
:
: Obj. Deadline: November 14, 2022 at 4:00 p.m. (ET)
: Hearing Date: November 21, 2022 at 1:00 p.m. (ET)
:
------------------------------------------------------------ x
NOTICE OF HEARING TO CONSIDER APPROVAL OF
DISCLOSURE STATEMENT FOR THE JOINT CHAPTER 11 PLAN
OF LIQUIDATION OF KABBAGE, INC. (d/b/a KSERVICING) AND
ITS AFFILIATED DEBTORS
PLEASE TAKE NOTICE THAT:
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 Joint Chapter 11 Plan of Liquidation of Kabbage, Inc. (d/b/a KServicing)
and Its Affiliated Debtors, dated October 3, 2022 (as may be amended, modified, or supplemented,
the “Plan”). On October 5, 2022, the Debtors filed the accompanying disclosure statement for the
Plan (as may be amended, modified, or supplemented, the “Disclosure Statement”). 2
2. A hearing (the “Disclosure Statement Hearing”) to consider entry of an order
determining, among other things, that the Disclosure Statement contains “adequate information”
within the meaning ascribed to such term in section 1125 of the Bankruptcy Code and approving
the Disclosure Statement will be held before The Honorable Craig T. Goldblatt, United States
Bankruptcy Judge, in the United States Bankruptcy Court for the District of Delaware
(the “Bankruptcy Court”), 824 North Market Street, 3rd Floor, Courtroom 7, Wilmington,
Delaware 19801, on November 21, 2022 at 1:00 p.m. (prevailing Eastern Time). The
Disclosure Statement Hearing may be adjourned from time to time without further notice to parties
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 but not defined herein shall have the meanings ascribed to them in the Disclosure Statement
or the Plan, as applicable, or as the context otherwise requires.
RLF1 28080143v.1
Case 22-10951-CTG Doc 98 Filed 10/12/22 Page 2 of 3
in interest other than by an announcement in the Bankruptcy Court of such adjournment on the
date scheduled for the Disclosure Statement Hearing or as indicated in any notice of agenda of
matters scheduled for hearing filed by the Debtors with the Bankruptcy Court. The Debtors may
modify the Disclosure Statement, if necessary, prior to, during, or as a result of the Disclosure
Statement Hearing without further notice.
3. Any party in interest wishing to obtain a copy of the Disclosure Statement
and the Plan should contact Omni Agent Solutions, the Debtors’ proposed solicitation agent, (i) in
writing at Kabbage, Inc. d/b/a KServicing, et al., c/o Omni Agent Solutions, Solicitation Team,
5955 De Soto Ave., Suite 100, Woodland Hills, CA 91367, (ii) by email at
kservicinginquiries@omniagnt.com, or (iii) by telephone at 866-956-2138 (U.S. & Canada toll
free) or 747-226-5953 (international). Interested parties may also review the Disclosure Statement
and the Plan free of charge at www.omniagentsolutions.com/kservicing.com. In addition, the
Disclosure Statement and Plan are on file with the Bankruptcy Court and may be reviewed for a
fee by accessing the Bankruptcy Court’s website: www.deb.uscourts.gov. Note that a PACER
password and login are needed to access documents on the Bankruptcy Court’s website. A PACER
password can be obtained at www.pacer.psc.uscourts.gov.
4. Objections, if any, to approval of the Disclosure Statement must: (i) be in
writing; (ii) conform to the Bankruptcy Rules and the Local Rules; (iii) set forth the name of the
objecting party; (iv) provide the basis for objection and specific grounds thereof, and provide
proposed language that, if accepted and incorporated by the Debtors, would obviate such objection;
and (v) be filed with the Bankruptcy Court and served on the following parties by no later than
November 14, 2022 at 4:00 p.m. (prevailing Eastern Time) (the “Objection Deadline”): (a) the
Debtors, Kabbage, Inc. d/b/a KServicing, 925B Peachtree Street NE, Suite 383, Atlanta, GA
30309, Attn: Holly Loiseau, General Counsel; (b) Proposed Counsel to Debtors, (i) Weil, Gotshal
& Manges LLP, Attn: Ray C. Schrock (ray.schrock@weil.com), Candace M. Arthur
(candace.arthur@weil.com), Natasha Hwangpo (natasha.hwangpo@weil.com), and Chase
Bentley (chase.bentley@weil.com) and (ii) Richards, Layton & Finger, P.A., Attn: Daniel J
DeFranceschi (defranceschi@rlf.com), Amanda R. Steele (steele@rlf.com), and Zachary I.
Shapiro (shapiro@rlf.com); and (c) the Office of the United States Trustee for the District of
Delaware, 844 King Street, Suite 2207, Wilmington, DE 19801, Attn: Richard Schepacarter
(richard.schepacarter@usdoj.gov) and Rosa Sierra-Fox (rosa.sierra-fox@usdoj.gov).
5. If an objection to the Disclosure Statement is not filed and served
strictly as prescribed herein, the objecting party may be barred from objecting to the
Disclosure Statement or the adequacy thereof and may not be heard at the Disclosure
Statement Hearing. If no objections to the Disclosure Statement are received by the Objection
Deadline, the Bankruptcy Court may enter an order approving the Disclosure Statement without
further notice.
6. THIS NOTICE IS NOT A SOLICIATION OF VOTES TO ACCEPT
OR REJECT THE PLAN. VOTES ON THE PLAN MAY NOT BE SOLICITED UNLESS
AND UNTIL THE DISCLOSURE STATEMENT IS APPROVED BY THE BANKRUPTCY
COURT.
2
RLF1 28080143v.1
Case 22-10951-CTG Doc 98 Filed 10/12/22 Page 3 of 3
Dated: October 12, 2022
Wilmington, Delaware
/s/ Matthew P. Milana
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
Email: 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
Proposed Attorneys for Debtors
and Debtors in Possession
3
RLF1 28080143v.1
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