In re Kabbage (KServicing) — Certification re Richards Layton & Finger Second Interim Fee Application (Exhibit H)
- Date
- 2023-05-15
Summary
Exhibit H, a certification regarding the Second Interim Fee Application Request of Richards, Layton & Finger, P.A., co-counsel to the debtors in In re Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951 (CTG), a jointly administered Chapter 11 case in the U.S. Bankruptcy Court for the District of Delaware. It is Doc 824-8, filed May 15, 2023. A director of the firm certifies that the application complies with the Interim Compensation Order dated October 21, 2022 [Docket No. 136] and applicable rules. The certification then answers six questions from the U.S. Trustee Guidelines for applications under 11 U.S.C. § 330, stating among other things that the firm agreed to no billing-rate variations and that it raised its hourly rates on January 1, 2023. The document is four pages.
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Case 22-10951-CTG Doc 824-8 Filed 05/15/23 Page 1 of 4
Exhibit H
Certification Regarding Interim Fee Application
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Case 22-10951-CTG Doc 824-8 Filed 05/15/23 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)
:
: (Jointly Administered)
1
Debtors. :
:
------------------------------------------------------------ x
CERTIFICATION REGARDING
SECOND INTERIM FEE APPLICATION REQUEST OF
RICHARDS, LAYTON & FINGER, P.A., AS CO-COUNSEL TO THE DEBTORS
1. I am an attorney admitted to practice in the State of Delaware and before this Court,
and a director with the law firm of Richards, Layton & Finger, P.A. (“RL&F”). RL&F is a
Delaware law firm with an office at One Rodney Square, 920 North King Street, Wilmington,
Delaware 19801.
2. I make this certification regarding the Second Interim Fee Application Request of
Richards, Layton & Finger, P.A. (the “Interim Fee Application”) to certify to certain matters
addressed in the Order Establishing Procedures for Interim Compensation and Reimbursement of
Expenses of Professionals, dated October 21, 2022 [Docket No. 136] (the “Interim
Compensation Order”).2
3. Specifically, I have reviewed the Interim Fee Application, including each Monthly
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 Interim Compensation
Order.
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Case 22-10951-CTG Doc 824-8 Filed 05/15/23 Page 3 of 4
Fee Application relating to the Interim Fee Period covered by the Interim Fee Application, and I
hereby certify that such applications comply with the Interim Compensation Order and the
applicable provisions of the Bankruptcy Code, the Bankruptcy Rules and the Local Rules. In
addition, I hereby certify that, in accordance with the Interim Compensation Order, and in
connection with preparing the Interim Fee Application, RL&F has made a reasonable effort to
comply with the U.S. Trustee’s requests for information and additional disclosures set forth in the
Guidelines for Reviewing Applications for Compensation and Reimbursement of Expenses Filed
under 11 U.S.C. § 330 by Attorneys in Larger Chapter 11 Cases, effective November 1, 2013 (the
“U.S. Trustee Guidelines”). To that end, RL&F specifically responds to certain questions
identified in the U.S. Trustee Guidelines as follows:
Question 1: Did RL&F agree to any variations from, or alternatives to, RL&F’s standard
or customary billing rates, fees or terms for services pertaining to this engagement that
were provided during the application period? If so, please explain.
Answer: No.
Question 2: If the fees sought in the Interim Fee Application as compared to the fees
budgeted for the time period covered by the Application are higher by 10% or more, did
RL&F discuss the reasons for the variation with the client?
Answer: N/A.
Question 3: Have any of the professionals included in the Interim Fee Application varied
their hourly rate based on geographic location of the bankruptcy case?
Answer: No.
Question 4: Does the Interim Fee Application include time or fees related to reviewing
or revising time records or preparing, reviewing or revising invoices?
Answer: All time included in project category R-1 during the Interim Fee
Period by RL&F professionals was on account of reviewing and revising RL&F’s Monthly Fee
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Case 22-10951-CTG Doc 824-8 Filed 05/15/23 Page 4 of 4
Applications for such period, which may include reviewing and revising the relevant time detail
attached to each such application.
Question 5: Does the Interim Fee Application include time for fees for reviewing time
records to redact any privileged or other confidential information? If so, please quantify
hours and fees.
Answer: No.
Question 6: Did the Interim Fee Application include any rate increases since retention
in these cases:
Answer: Yes. On January 1, 2023, RL&F, as part of its customary practice,
increased the hourly billing rates of its professionals due to a periodic increase.
i. Did the client agree when retaining RL&F to accept all future rate
increases? If not, did RL&F inform the client that they need not agree to modified rates or
terms in order to have you continue the representation, consistent with ABA Formal Ethics
Opinion 11-458?
Answer: The client was notified at the outset of the engagement that RL&F’s
hourly rates are reviewed and revised from time to time.
/s/ Amanda R. Steele
Amanda R. Steele (No. 5530)
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