to run the PPP business, and Amex Kabbage is obligated under the Transition Services Agreement, dated

Summary

Doc 685-4, filed March 15, 2023 in In re Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951, in the U.S. Bankruptcy Court for the District of Delaware, is Exhibit 4, a letter dated January 13, 2023 from Theodore E. Tsekerides to James L. Bromley of Sullivan & Cromwell LLP. The letter requests, for the Debtors, loan servicing information that Amex Kabbage holds and states that Amex Kabbage is obligated to provide certain of it under the Transition Services Agreement dated as of October 16, 2020 and amended November 13, 2020. It asks for confirmation by January 19, 2023 that the material will be provided by February 17, 2023. It states that if Amex Kabbage opposes, the Debtors will move for an order under Bankruptcy Rule 2004 and Local Rule 2004-1, and offers to meet and confer. The 3-page document consists of an Exhibit 4 cover page and the two-page letter.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

Case 22-10951-CTG   Doc 685-4   Filed 03/15/23   Page 1 of 3




                       Exhibit 4
                      Case 22-10951-CTG      Doc 685-4      Filed 03/15/23      Page 2 of 3




VIA E-MAIL                                                                                        767 Fifth Avenue
                                                                                          New York, NY 10153-0119
                                                                                               +1 212 310 8000 tel
                                                                                               +1 212 310 8007 fax

                                                                                            Theodore E. Tsekerides
                                                                                                   +1 (212) 310-8218
January 13, 2023                                                                       theodore.tsekerides@weil.com




James L. Bromley, Esq.
Sullivan & Cromwell LLP
125 Broad Street
New York, NY 10004
bromleyj@sullcrom.com

Re: In re Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951

Dear Jim:

Following up on our discussions regarding the need for the Debtors to obtain loan servicing information
in the possession of Amex Kabbage, attached is a schedule identifying particular information requested
by the Debtors, as well as general matters that will be necessary to transition loan servicing from Amex
Kabbage. Certain of the requested information is more immediately necessary and critical for the Debtors
to run the PPP business, and Amex Kabbage is obligated under the Transition Services Agreement, dated
as of October 16, 2020 and as amended on November 13, 2020 (“TSA”), by and between American
Express Kabbage Inc., (formerly Alpha Kabbage, Inc.) (“Amex Kabbage”) and Kabbage, Inc. (“Legacy
Kabbage”) to provide such information to the Debtors. Moreover, given that the TSA expressly
contemplated Amex Kabbage would ultimately transition its services under the TSA, it is appropriate to
undertake the steps necessary toward that transition. To that end, other items requested on the attached
schedule address that transition as well. Note, while we believe the particular information requested in
the schedule is comprehensive, we reserve the right to supplement should additional items be required.

In light of the importance of this information to the Debtors’ proper fulfillment of their loan servicing
obligations and the administration of the Debtors’ estates, the Debtors request that Amex Kabbage
voluntarily provide the information specified in the schedule as soon as possible, especially as relates to
the more specific requests.

We believe it is in all parties’ interests to work cooperatively in transitioning these materials to the Debtors
as quickly as possible. Accordingly, by January 19, 2023, please confirm that Amex Kabbage is willing
to provide the requested material, and that it will do so by February 17, 2023. As you are aware, the
Federal Reserve and certain of the Debtors’ partner banks are especially eager to have this information
made available to the Debtors so that the Debtors, or another entity, can better service the applicable loans.
The information is further required in connection with the Debtors’ ongoing administration and is
additionally necessary to respond to certain third-party regulatory requests. For these reasons, and given


WEIL:\98969274\7\55894.0003
                      Case 22-10951-CTG   Doc 685-4     Filed 03/15/23     Page 3 of 3


January 13, 2023
Page 2




the importance of the materials to the Debtor’s estates, if Amex Kabbage opposes providing the requested
information, the Debtors will file a motion for entry of an order directing Amex Kabbage to produce the
requested information pursuant to Bankruptcy Rule 2004 and Rule 2004-1 of the Local Rules of
Bankruptcy Practice and Procedure of the United States Bankruptcy Court for the District of Delaware.
We hope you will work cooperatively to provide all the requested materials and information to avoid our
having to file a motion.

If Amex Kabbage is unwilling to provide the information or believes to be unable to do so before February
17, 2023, please let us know if you are available on Tuesday next week to meet and confer about the
requests.

Sincerely,


Theodore E. Tsekerides


Encl.
cc: Candace M. Arthur, candace.arthur@weil.com
    Natasha Hwangpo, natasha.hwangpo@weil.com




WEIL:\98969274\7\55894.0003


File and source

File

gov.uscourts.deb.188293.685.4.pdf

Size

210,032 bytes

SHA-256

38609b8fd049e4c96ee01a99338f90eec37e1d9fb7695fd1beeb858d3cca42f1

Our copy

gov.uscourts.deb.188293.685.4.pdf

Original

archive.org