Declaration of Tomasita L. Sherer — In re Kabbage, Inc. d/b/a KServicing (Case No. 22-10951, Doc 507)

Summary

A Declaration of Tomasita L. Sherer on behalf of Dentons US LLP regarding 2023 hourly rates, Doc 507, dated January 31, 2023, in the Chapter 11 cases of Kabbage, Inc. d/b/a KServicing et al., Case No. 22-10951 (CTG), in the United States Bankruptcy Court for the District of Delaware. The declarant states that she is a Partner of the firm and that the declaration supplements the earlier declaration and disclosure statement at Docket No. 319. It gives notice that, effective as of January 1, 2023, the firm's standard hourly rates have increased, listing Partners at $750.00 to $1,485.00 and Paralegals at $375.00 to $525.00. It also states that the firm will file a notice of annual rate increases each January while the cases are ongoing.

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                   Case 22-10951-CTG             Doc 507         Filed 01/31/23       Page 1 of 3




                               UNITED STATES BANKRUPTCY COURT
                                FOR THE DISTRICT OF DELAWARE

------------------------------------------------------------ x
In re                                                        :         Chapter 11
                                                             :
KABBAGE, INC. d/b/a KSERVICING et al., :                               Case No. 22-10951 (CTG)
                                                             :
                                                             :
                             1
                  Debtors.                                   :         (Jointly Administered)
------------------------------------------------------------ x

                 DECLARATION OF TOMASITA L. SHERER
       ON BEHALF OF DENTONS US LLP REGARDING 2023 HOURLY RATES

                    I, Tomasita L. Sherer, hereby declare, pursuant to section 1746 of title 28 of the

United States Code, that the following is true to the best of my knowledge, information, and belief:

                    1.       I am a Partner of Dentons US LLP located at 1221 Avenue of the Americas,

New York, NY 10020-1089 (the “Firm”). The Firm has multiple locations across the United

States, as well as around the world.

                    2.       This declaration (the “Declaration”) is submitted as a supplement to the

Declaration And Disclosure Statement Of Tomasita L. Sherer On Behalf Of Dentons US LLP

[Docket No. 319] (the “Dentons OCP Declaration”). Capitalized terms used herein but not

otherwise defined herein shall have the meanings ascribed to such terms in the Dentons OCP

Declaration.

                    3.       Kabbage, Inc. d/b/a KServicing and its debtor affiliates, as debtors and

debtors in possession (collectively, the “Debtors”), have requested that the Firm provide legal

services to the Debtors, and the Firm has consented to provide such services. No party has objected


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 28549630v.1

                Case 22-10951-CTG              Doc 507        Filed 01/31/23        Page 2 of 3




to the Firm’s employment, which is in accordance with the Order Authorizing Debtors To Employ

Professionals Used In Ordinary Course Of Business [Docket No. 196].

                 4.       This Declaration constitutes notice, as contemplated in the Dentons OCP

Declaration, that effective as of January 1, 2023, the Firm’s standard hourly rates (the “2023

Hourly Rates”) have increased based upon the Firm’s annual and customary firm-wide

adjustments in the ordinary course of the Firm’s business, and which are as follows:

                 (a)      Partners: $750.00 to $1,485.00;

                 (b)      Senior Counsel: $1,130.00 to $1,130.00;

                 (c)      Senior Managing Associates: $655.00 to $825.00;

                 (d)      Managing Associates: $565.00 to $800.00;

                 (e)      Associates: $480.00 to $570.00; and

                 (f)      Paralegals: $375.00 to $525.00.2

                 5.       The Firm’s hourly rates are set at a level designed to fairly compensate the

Firm for the work of its attorneys and professionals and to cover certain fixed and routine overhead

expenses. The Firm’s hourly rates are subject to periodic adjustment to reflect economic and other

conditions and are consistent with the rate adjustments the Firm charges other comparable clients.

                 6.       In accordance with § 330(a)(3)(F) of title 11 of the United States Code,

§§ 101 et seq. (the “Bankruptcy Code”), the Firm represents that the 2023 Hourly Rates, as set

forth herein, are reasonable based on customary compensation charged by practitioners of

comparable skill in cases other than cases under the Bankruptcy Code, reflect economic and other

conditions, and are consistent with rates charged elsewhere.


2
 As stated in the Dentons OCP Declaration, it is the Firm’s practice to implement annual rate increases beginning in
January of each year, the amounts listed herein are subject to change. To that end, the Firm will continue to file a
notice of such annual rate increase in or about January of each year during which these chapter 11 cases are ongoing.



                                                         2

             Case 22-10951-CTG          Doc 507     Filed 01/31/23     Page 3 of 3




              7.     As set forth in the Dentons OCP Declaration, if the Firm should discover

any facts bearing on the matters described in the Dentons OCP Declaration, the Firm will

supplement the information contained therein.

              I declare under penalty of perjury that the foregoing is true and correct.


Executed on: January 31, 2023
New York, New York

                                             By:

                                             Tomasita L. Sherer
                                             Dentons US LLP
                                             1221 Avenue of the Americas
                                             New York, NY 10020-1089
                                             Phone: 212-768-6700
                                             Email: tomasita.sherer@dentons.com




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