Certification Of Counsel Regarding Second Interim Order
Summary
A certification of counsel filed November 1, 2022 as Doc 191 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 concerns the debtors' motion to continue using their existing cash management system, bank accounts and business forms [Docket No. 12] and the interim order the court entered on October 6, 2022 [Docket No. 78]. The certification states that after informal comments from the U.S. Trustee, the parties agreed to continue the final hearing to November 21, 2022. It asks the court to enter a proposed second interim order, attached as Exhibit 1, with a redline against the interim order as Exhibit 2, and states that the U.S. Trustee and the Federal Reserve Bank of San Francisco do not object.
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Case 22-10951-CTG Doc 191 Filed 11/01/22 Page 1 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)
:
:
Debtors.1 : (Jointly Administered)
:
: Re: Docket No. 12, 78 & 84
------------------------------------------------------------ x
CERTIFICATION OF COUNSEL REGARDING SECOND INTERIM ORDER
(I) AUTHORIZING (A) DEBTORS TO CONTINUE USING EXISTING CASH
MANAGEMENT SYSTEM, BANK ACCOUNTS, AND BUSINESS FORMS,
(B) IMPLEMENT CHANGES TO CASH MANAGEMENT IN THE
ORDINARY COURSE OF BUSINESS; AND (II) GRANTING RELATED RELIEF
The undersigned hereby certifies as follows:
1. On October 3, 2022, 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”), filed the Motion of Debtors for Entry of Interim and Final Orders
(I) Authorizing Debtors to (A) Continue Using Existing Cash Management System, Bank Accounts,
and Business Forms, (B) Implement Changes to Cash Management in the Ordinary Course of
Business; and (II) Granting Related Relief [Docket No. 12] (the “Motion”) with the United States
Bankruptcy Court for the District of Delaware (the “Court”).
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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 191 Filed 11/01/22 Page 2 of 4
2. On October 6, 2022, the Court entered the Interim Order (I) Authorizing (A)
Debtors to Continue Using Existing Cash Management System, Bank Accounts, and Business
Forms, (B) Implement Changes to Cash Management in the Ordinary Course of Business; and (II)
Granting Related Relief [Docket No. 78] (the “Interim Order”).
3. Pursuant to the Interim Order and the Notice of (A) Entry of Interim Order
(I) Authorizing (A) Debtors to Continue Using Existing Cash Management System, Bank Accounts,
and Business Forms, (B) Implement Changes to Cash Management in the Ordinary Course of
Business; and (II) Granting Related Relief; and (B) Final Hearing Thereon [Docket No. 84],
objections or responses to the final relief requested in the Motion, if any, must be made in writing
and filed with the Court on or before October 31, 2022 at 4:00 p.m. (prevailing Eastern Time) (the
“Objection Deadline”), and a hearing to consider the Motion was scheduled for November 7,
2022 at 1:00 p.m. (prevailing Eastern Time) (the “Hearing”).
4. Prior to the Objection Deadline, the Debtors received certain informal
comments (the “Comments”) to the final relief requested in the Motion from the Office of the
United States Trustee for the District of Delaware (the “U.S. Trustee”). Based upon discussion
between the Debtors and the U.S. Trustee (collectively, the “Parties”), the Parties agreed to
continue the Hearing to November 21, 2022, at 1:00 p.m. (Prevailing Eastern Time).
5. Accordingly, the Debtors have prepared a proposed form of order granting
the relief requested in the Motion on a further interim basis, attached hereto as Exhibit 1 (the
“Second Interim Order”). The Second Interim Order has been circulated to the U.S. Trustee
and the Federal Reserve Bank of San Francisco, and the aforementioned parties do not object to
the entry of the Second Interim Order. For the convenience of the Court and all parties in interest,
2
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Case 22-10951-CTG Doc 191 Filed 11/01/22 Page 3 of 4
a redline comparison of the Second Interim Order marked against the Interim Order is attached
hereto as Exhibit 2.
[Remainder of page intentionally left blank]
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Case 22-10951-CTG Doc 191 Filed 11/01/22 Page 4 of 4
WHEREFORE the Debtors respectfully request that the Second Interim Order be
entered at the earliest convenience of the Court.
Dated: November 1, 2022
Wilmington, Delaware
/s/ Matthew P. Milana
RICHARDS, LAYTON & FINGER, P.A.
Daniel J. DeFranceschi, Esq. (No. 2732)
Amanda R. Steele, Esq. (No. 5530)
Zachary I. Shapiro, Esq. (No. 5103)
Matthew P. Milana, Esq. (No. 6681)
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
-and-
WEIL, GOTSHAL & MANGES LLP
Ray C. Schrock, P.C. (admitted pro hac vice)
Candace M. Arthur, Esq. (admitted pro hac vice)
Natasha S. Hwangpo, Esq. (admitted pro hac vice)
Chase A. Bentley, Esq. (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
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