Exhibit 1, Doc 623-1, Emails on Cross River Servicing Files — Kabbage (Case 22-10951-CTG)
- Date
- 2023-03-08
Summary
Exhibit 1, filed March 8, 2023 as Doc 623-1 in Case No. 22-10951-CTG, is an email exchange concerning Kabbage and Cross River servicing files. In a December 8, 2022 message, Matthew Scheck of Quinn Emanuel Urquhart & Sullivan, LLP asks that Kabbage produce by December 16, 2022 copies of the Servicing Files, as defined in the LPA and SSA, for all loans governed by those agreements. The message quotes the agreements' definition of Servicing Files, states that ownership vests in Cross River and that Kabbage holds them in a custodial capacity, and asks that material relating to suspected or actual fraud be prioritized. It asks for notice by December 12, 2022 whether Kabbage will produce voluntarily or meet and confer. Candace M. Arthur of Weil, Gotshal & Manges LLP replies acknowledging receipt.
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Case 22-10951-CTG Doc 623-1 Filed 03/08/23 Page 1 of 3
EXHIBIT 1
Case 22-10951-CTG Doc 623-1 Filed 03/08/23 Page 2 of 3
From: Arthur, Candace M. <Candace.Arthur@weil.com>
Sent: Thursday, December 8, 2022 4:35 PM
To: Matthew Scheck
Cc: Hwangpo, Natasha; Isaac Nesser
Subject: Re: Kabbage/Cross River -- Servicing Files
[EXTERNAL EMAIL from candace.arthur@weil.com]
Acknowledging receipt of the below.
Candace M. Arthur
Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, NY 10153
candace.arthur@weil.com
+1 212 310 8324 Direct
+1 212 310 8007 Fax
On Dec 8, 2022, at 6:25 PM, Matthew Scheck <matthewscheck@quinnemanuel.com> wrote:
Candace/Natasha,
During our call on Monday, we requested that Kabbage provide us with Cross River’s loan and servicing
files. We wanted to follow up with additional specificity. We request that by December 16, 2022
Kabbage produce a copy of the Servicing Files as the term “Servicing File” is defined in the LPA (pursuant
to the September 17, 2020 Letter Agreement) and SSA for all loans governed by those agreements.
Please note, that the Servicing Files include “with respect to any [Loan (as defined under the LPA) or
Asset (as defined under the SSA)], the documents, files and records held or maintained by or on behalf
of [Cross River] pertaining specifically to such [Loan or Asset] or the servicing thereof, including, without
limitation, computer files, data tapes, books, records, electronic copies of documents, notes and [Loan
Files (as defined under the LPA) and Asset Files (as defined under the SSA)] relating to such
[Loan or Asset].” As ownership of these Servicing Files vests in Cross River, and Kabbage retains them in
a custodial capacity only, Cross River expects that they be made available to us promptly. While Cross
River requests digital copies of the entirety of each Servicing File, please prioritize any material provided
by borrowers at origination or later, and all material relating to fraud, including reports, notes, flags, flag
explanations, and any other information pertaining to suspected or actual fraud, regardless of the
platform on which the material is maintained, e.g., Kore, CoreCard, salesforce, bluecognition, a
centralized database, etc. Note, notwithstanding Cross River’s request for a digital copy of its Servicing
Files from Kabbage, Cross River understands that Kabbage is continuing, and will continue, to service
Cross River’s loans and maintain full and complete loan files at all times.
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Case 22-10951-CTG Doc 623-1 Filed 03/08/23 Page 3 of 3
Please notify us by December 12, 2022 whether Kabbage will produce this material voluntarily and meet
our requested timeline. If not, please let us know your next availability to meet and confer regarding
this request.
Best,
Matt
Matthew Scheck
Partner
Quinn Emanuel Urquhart & Sullivan, LLP
300 West 6th St., Suite 2010
Austin, TX 78701
737-667-6102 Direct
310-883-5437 Mobile
213-443-3100 Fax
matthewscheck@quinnemanuel.com
www.quinnemanuel.com
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and destroy the original message. Thank you.
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File and source
- File
- gov.uscourts.deb.188293.623.1.pdf
- Size
- 875,034 bytes
- SHA-256
- 501f87e0603d8f090a648c751d1ded14f8a605c38d6cde8c4c32a1f8c90e134b
- Original
- archive.org