Certification Of Counsel Regarding Stipulated Order Regarding
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A certification of counsel filed January 6, 2023 as Doc 422 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. It concerns the motion Customers Bank filed on December 7, 2022 (Docket No. 336) to compel compliance with a court-approved settlement agreement and order and to require additional adequate protection, and the debtors' objection (Docket No. 355). Counsel certifies that the objection deadline was December 21, 2022 and a hearing was set for January 6, 2023, but the parties agreed to resolve the motion without a hearing through a stipulated order. A proposed order approving the stipulation is attached as Exhibit A, with the stipulation as its Exhibit 1. It is signed by Matthew P. Milana of Richards, Layton & Finger, P.A.
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Case 22-10951-CTG Doc 422 Filed 01/06/23 Page 1 of 3
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
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:
In re : Chapter 11
:
KABBAGE, INC. d/b/a KSERVICING, et al., : Case No. 22-10951 (CTG)
:
:
Debtors.1 : (Jointly Administered)
:
: Re: Docket Nos. 336 & 355
------------------------------------------------------------ x
CERTIFICATION OF COUNSEL REGARDING STIPULATED ORDER REGARDING
MOTION OF CUSTOMERS BANK FOR ENTRY OF AN ORDER (I) COMPELLING
COMPLIANCE WITH COURT APPROVED SETTLEMENT AGREEMENT AND
ORDER; (II) REQUIRING ADDITIONAL ADEQUATE PROTECTION IN FAVOR OF
CUSTOMERS BANK; AND (III) GRANTING RELATED RELIEF
The undersigned hereby certifies as follows:
1. On December 7, 2022, Customers Bank (“CB”) filed the Motion of
Customers Bank for Entry of an Order (I) Compelling Compliance with Court Approved Settlement
Agreement and Order; (II) Requiring Additional Adequate Protection in Favor of Customers
Bank, and (III) Granting Related Relief [Docket No. 336] (“CB’s Motion”) with the United
States Bankruptcy Court for the District of Delaware (the “Court”). Pursuant to the Notice of
Motion attached to CB’s Motion, the deadline to file objections or responses to CB’s Motion was
December 21, 2022 at 4:00 p.m. (prevailing Eastern Time) (the “Objection Deadline”) and a
hearing to consider CB’s Motion was scheduled for January 6, 2023 at 10:00 a.m. (prevailing
Eastern Time) (the “Hearing”).
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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 422 Filed 01/06/23 Page 2 of 3
2. Prior to the Objection Deadline, in response to CB’s Motion, the above-
captioned debtors and debtors in possession (collectively, the “Debtors” and together with CB,
the “Parties”) filed, among other things, the Debtors’ Objection to Motion of Customers Bank for
Entry of an Order (I) Compelling Compliance with Court Approved Settlement Agreement and
Order; (II) Requiring Additional Adequate Protection in Favor of Customers Bank; and (III)
Granting Related Relief [Docket No. 355] (the “Objection”).
3. The Parties have conferred regarding CB’s Motion and the Objection and
have agreed to resolve the same without need for the Hearing. The Parties have memorialized
their agreement in the Stipulated Order Regarding Motion of Customers Bank for Entry of an
Order (I) Compelling Compliance with Court Approved Settlement Agreement and Order; (II)
Requiring Additional Adequate Protection in Favor of Customers Bank; and (III) Granting
Related Relief (the “Stipulation”).
4. A proposed form of order approving the Stipulation is attached hereto as
Exhibit A (the “Proposed Order”). A copy of the Stipulation is attached as Exhibit 1 to the
Proposed Order.
[Remainder of page intentionally left blank]
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Case 22-10951-CTG Doc 422 Filed 01/06/23 Page 3 of 3
WHEREFORE, on behalf of the Parties, the Debtors respectfully request that the
Proposed Order be entered at the earliest convenience of the Court.
Dated: January 6, 2023
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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