Kabbage - Notice of OCP Fee Cap Increase (MGW)

Summary

Notice of Increase in Ordinary Course Professional Monthly Fee Cap with Respect to McGuireWoods LLP, Doc 678 filed March 14, 2023 in Case No. 22-10951 (CTG), the jointly administered Chapter 11 case of Kabbage, Inc. d/b/a KServicing, et al., in the U.S. Bankruptcy Court for the District of Delaware. The notice states that, under the OCP Order [Docket No. 196], the Debtors obtained the agreement of the Reviewing Parties to increase the Monthly Fee Cap of McGuireWoods LLP, a Tier 2 Ordinary Course Professional, from $50,000 to $55,000. It states that the Increased Monthly Fee Cap is deemed approved upon filing without further action by the Court and that the U.S. Trustee is the only Reviewing Party. The notice is signed /s/ Huiqi Liu of Richards, Layton & Finger, P.A.

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Full text

RLF1 28733891v.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
---------------------------------------------------------- x

:
Chapter 11
In re
:

:
Case No. 22-10951 (CTG)
KABBAGE, INC. d/b/a KSERVICING, et al., :

:
(Jointly Administered)

:

Debtors.1
:
Re: Docket No. 196
---------------------------------------------------------- x

NOTICE OF INCREASE IN ORDINARY COURSE PROFESSIONAL
MONTHLY FEE CAP WITH RESPECT TO MCGUIREWOODS LLP

PLEASE TAKE NOTICE that, pursuant to the Order Authorizing Debtors to
Employ Professionals Used in Ordinary Course of Business [Docket No. 196] (the “OCP
Order”)2 and the OCP Procedures approved thereunder, 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”), have obtained the agreement of the Reviewing Parties3 to increase
the Monthly Fee Cap of McGuireWoods LLP, a Tier 2 Ordinary Course Professional, from
$50,000 to $55,000 (the “Increased Monthly Fee Cap”).
PLEASE TAKE FURTHER NOTICE that, pursuant to the OCP Order, the
Increased Monthly Fee Cap is deemed approved upon the filing of this notice, without further
action by the Court.

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 otherwise defined herein shall have the meanings ascribed to them in the OCP
Order.
3  The term “Reviewing Parties” is defined in the OCP Order to include the U.S. Trustee and the Creditors’
Committee, if any; however, no Creditors’ Committee has been appointed in these chapter 11 cases.  Accordingly,
the U.S. Trustee is the only Reviewing Party.
Case 22-10951-CTG    Doc 678    Filed 03/14/23    Page 1 of 2

RLF1 28733891v.1
2
Dated: March 14, 2023

Wilmington, Delaware
/s/ Huiqi Liu
RICHARDS, LAYTON & FINGER, P.A.
Daniel J. DeFranceschi (No. 2732)
Amanda R. Steele (No. 5530)
Zachary I. Shapiro (No. 5103)
Matthew P. Milana (No. 6681)
Huiqi Liu (No. 6850)
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
             liu@rlf.com
-and-
WEIL, GOTSHAL & MANGES LLP
Ray C. Schrock (admitted pro hac vice)
Candace M. Arthur (admitted pro hac vice)
Natasha S. Hwangpo (admitted pro hac vice)
Chase A. Bentley (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
Attorneys for Debtors and Debtors in
Possession
Case 22-10951-CTG    Doc 678    Filed 03/14/23    Page 2 of 2

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