Certification Of Counsel Regarding Order Approving
Summary
A certification of counsel filed January 12, 2023 as Doc 438 in In re Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951 (CTG), jointly administered Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. It concerns a proposed form of order approving a stipulation between the debtors and Cross River Bank. Counsel states that at a status conference on November 29, 2022 Cross River made statements about the debtors' management of, among other things, the Synovus CRB Servicing Account, and that the parties then entered the stipulation to resolve those issues. The certification states that the proposed order is attached as Exhibit A, that the U.S. Trustee does not object, and asks the court to enter the order. It is signed by Richards, Layton & Finger, P.A., with Weil, Gotshal & Manges LLP also listed as attorneys for the debtors.
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Case 22-10951-CTG Doc 438 Filed 01/12/23 Page 1 of 3
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
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In re : Chapter 11
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KABBAGE, INC. d/b/a KSERVICING, et al., : Case No. 22-10951 (CTG)
:
:
Debtors.1 : (Jointly Administered)
:
:
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CERTIFICATION OF COUNSEL REGARDING ORDER APPROVING
STIPULATION BETWEEN THE DEBTORS AND CROSS RIVER BANK
The undersigned hereby certifies as follows:
1. On November 29, 2022, the United States Bankruptcy Court for the District
of Delaware (the “Court”) held a status conference (the “Status Conference”) in the above-
captioned cases.
2. At the Status Conference, Cross River Bank (“Cross River”) made
statements regarding the Debtors’ management of, among other things, the Synovus CRB
Servicing Account.2 Cross River and the above-captioned debtors and debtors in possession
(collectively, the “Debtors” and collectively with CRB, the “Parties”) subsequently engaged in
discussions to resolve Cross River’s issues and other related matters, and the Parties have entered
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 meaning ascribed to such term in the
Stipulation (as defined herein).
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Case 22-10951-CTG Doc 438 Filed 01/12/23 Page 2 of 3
into the Stipulation Between the Debtors and Cross River Bank (the “Stipulation”) reflecting such
resolution.
3. 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. The Proposed Order and Stipulation have been circulated to the Office of the
United States Trustee for the District of Delaware (the “U.S. Trustee”), and the U.S. Trustee does
not object to the Stipulation and entry of the Proposed Order.
[Remainder of page intentionally left blank]
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RLF1 28475287v.1
Case 22-10951-CTG Doc 438 Filed 01/12/23 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 12, 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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