Order (I) Authorizing (A) Debtors To Continue Using Existing
Summary
A Certification of Counsel regarding a revised proposed final cash management order, filed January 12, 2023 as Doc 439 in the jointly administered Chapter 11 cases of Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951 (CTG), in the U.S. Bankruptcy Court for the District of Delaware. It recounts that the debtors filed the cash management motion on October 3, 2022 (Docket No. 12) and that the court entered interim orders on October 6, 2022, November 2, 2022 and November 18, 2022, the later two upon agreement with the U.S. Trustee after its informal comments. The debtors submit a Revised Proposed Final Order as Exhibit 1, state that the U.S. Trustee and the Federal Reserve Bank of San Francisco do not object, and attach a redline against the Third Interim Order as Exhibit 2. It is signed by counsel at Richards, Layton & Finger, P.A. and Weil, Gotshal & Manges LLP.
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
Cite this document
“Order (I) Authorizing (A) Debtors To Continue Using Existing.”
Original at archive.org. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/gov-uscourts-deb-188293-439-0-f38f9c592d/
, SHA-256 258526e2ac4732f2691482c06949929452f19d084b640ef325ab055ec3fc58ee.Full text
Case 22-10951-CTG Doc 439 Filed 01/12/23 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, 195 & 262
------------------------------------------------------------ x
CERTIFICATION OF COUNSEL REGARDING REVISED PROPOSED FINAL
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”).
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
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.
RLF1 28306720v.1
Case 22-10951-CTG Doc 439 Filed 01/12/23 Page 2 of 4
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 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, were required to 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”) (as such deadline may be extended by the Debtors).
4. Prior to the Objection Deadline, the Debtors received certain informal
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”).
5. On November 2, 2022, the Court entered the 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 [Docket No. 195] upon agreement between the Debtors
and the U.S. Trustee.
6. On November 18, 2022, the Court entered the Third 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. 262] (the “Third Interim Order”) upon
further agreement between the Debtors and the U.S. Trustee.
2
RLF1 28306720v.1
Case 22-10951-CTG Doc 439 Filed 01/12/23 Page 3 of 4
7. The Debtors hereby submit a revised proposed form of order granting the
relief requested in the Motion on a final basis, attached hereto as Exhibit 1 (the “Revised
Proposed Final Order”). The Revised Proposed Final 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 Revised Proposed Final Order. For the convenience of the Court and
all parties in interest, a redline comparison of the Revised Proposed Final Order marked against
the Third Interim Order is attached hereto as Exhibit 2.
[Remainder of page intentionally left blank]
3
RLF1 28306720v.1
Case 22-10951-CTG Doc 439 Filed 01/12/23 Page 4 of 4
WHEREFORE the Debtors respectfully request that the Revised Proposed Final
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
4
RLF1 28306720v.1File and source
- File
- gov.uscourts.deb.188293.439.0.pdf
- Size
- 214,771 bytes
- SHA-256
- 258526e2ac4732f2691482c06949929452f19d084b640ef325ab055ec3fc58ee
- Original
- archive.org