Interim Fee Order
- Date
- 2023-03-14
Summary
Doc 675-1, filed March 14, 2023 in In re Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951 (CTG), jointly administered Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. Under the heading Exhibit A, Interim Fee Order, it sets out a First Omnibus Order Awarding Interim Allowance of Compensation for Services Rendered and for Reimbursement of Expenses on the applications at Docket Nos. 530, 531, 532, 533, 534 & 535. The order grants each interim application and directs the debtors to pay 100% of the listed fees and expenses not already paid. Its fee chart covers October 3, 2022 to December 31, 2022 and lists six professionals, including Weil, Gotshal & Manges LLP as counsel to the debtors with fees of $4,626,527.25 and AlixPartners, LLP as financial advisor with fees of $1,955,331.75.
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Case 22-10951-CTG Doc 675-1 Filed 03/14/23 Page 1 of 4
EXHIBIT A
Interim Fee Order
Case 22-10951-CTG Doc 675-1 Filed 03/14/23 Page 2 of 4
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)
:
:
1
Debtors. : (Jointly Administered)
:
: Re: Docket Nos. 530, 531, 532, 533, 534 & 535
------------------------------------------------------------ x
FIRST OMNIBUS ORDER AWARDING INTERIM
ALLOWANCE OF COMPENSATION FOR SERVICES
RENDERED AND FOR REIMBURSEMENT OF EXPENSES
Upon consideration of the interim applications (each an “Interim Application” and,
collectively, the “Interim Applications”) of those professionals listed on Exhibit A attached
hereto (each an “Applicant” and, collectively, the “Applicants”) for the interim allowance of
certain fees, including all holdbacks, and expenses incurred for professional services rendered
during the period set forth on each Interim Application listed on Exhibit A hereto (the
“Compensation Period”), filed pursuant to the Order Establishing Procedures for Interim
Compensation and Reimbursement of Expenses of Professionals, entered October 21, 2022
[Docket No. 136] (the “Interim Compensation Order”), and the Court having reviewed the
Interim Applications; and the Court finding that: (a) the Court has jurisdiction over this matter
pursuant to 28 U.S.C. §§ 157 and 1334; (b) notice of the Interim Applications was adequate under
the circumstances; and (c) all persons with standing have been afforded the opportunity to be heard
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 675-1 Filed 03/14/23 Page 3 of 4
on the Interim Applications; and upon the full record of all proceedings in these cases; and
sufficient cause having been shown therefor,
IT IS HEREBY ORDERED THAT:
1. Each Interim Application is granted and approved as set forth herein.
2. Each of the Applicants is allowed compensation for services rendered during the
Compensation Period and reimbursement for actual and necessary expenses incurred during the
Compensation Period in the amounts set forth on Exhibit A hereto, including any and all
holdbacks.
3. To the extent not already paid pursuant to the Interim Compensation Order, the
above-captioned debtors and debtors-in-possession are authorized and directed to pay each of the
Applicants one-hundred percent (100%) of the fees and one-hundred percent (100%) of the
expenses listed on Exhibit A hereto that have not yet been paid in satisfaction of the allowed fees
for services rendered and expenses incurred during the Compensation Period.
4. This Order shall be deemed a separate order with respect to each of the Interim
Applications. Any stay of this Order pending appeal with respect to any one Applicant shall only
apply to the particular Applicant that is the subject of such appeal and shall not operate to stay the
applicability and/or finality of this Order with respect to any other of the Applicants.
5. This Court shall retain jurisdiction to hear and determine all matters arising from
or related to the implementation, interpretation and/or enforcement of this Order.
2
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Case 22-10951-CTG Doc 675-1 Filed 03/14/23 Page 4 of 4
Exhibit A
In re: Kabbage, Inc. d/b/a KServicing, et al.
Case No. 22-10951 (CTG)
First Interim Fee Period
Name of Compensation Expenses
Fees Requested Interim
Professional / Firm’s Role in Period Requested Interim Fees
(Interim Expenses
Docket No. of Case (Interim (Interim Approved
Period) Approved
Application Period) Period)
Weil, Gotshal
& Manges Counsel to the 10/3/22 –
$4,626,527.25 $19,412.54 $4,626,527.25 $19,412.54
LLP/ Debtors 12/31/22
Docket No. 530
Richards,
Layton & Counsel to the 10/3/22 –
$835,079.50 $13,756.73 $835,079.50 $13,756.73
Finger, P.A./ Debtors 12/31/22
Docket No. 531
AlixPartners, Financial
10/3/22 –
LLP/ Advisor to the $1,955,331.75 $10,120.46 $1,955,331.75 $10,120.46
12/31/22
Docket No. 532 Debtors
Special
Counsel to the
Greenberg Board of
10/3/22 –
Traurig, LLP/ Directors of $223,096.50 $411.25 $223,096.50 $411.25
12/31/22
Docket No. 533 Kabbage, Inc.
d/b/a
KServicing
Special
Jones Day/ 10/3/22 –
Counsel to the $188,987.50 $153,582.18 $188,987.50 $153,582.18
Docket No. 534 12/31/22
Debtors
Omni Agent Administrative
10/3/22 –
Solutions, Inc./ Agent for the $17,800.25 $0.00 $17,800.25 $0.00
12/31/22
Docket No. 535 Debtors
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