Notice Of Second Interim Fee Application
Summary
A notice of the second interim fee application request of Richards, Layton & Finger, P.A., filed May 15, 2023 as Doc 824 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. The firm, retained by the debtors, seeks $1,019,028.50 in compensation and $33,508.93 in expense reimbursement for January 1, 2023 through March 31, 2023. A summary table lists three monthly applications, at D.I. 621, D.I. 767 and D.I. 819, and reports no objections. Objections are due June 5, 2023 at 4:00 p.m. (ET), and a hearing is set for June 22, 2023 before Judge Craig T. Goldblatt. The notice lists Exhibits A to H, including a budget and staffing plan and an attorney certification.
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Case 22-10951-CTG Doc 824 Filed 05/15/23 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)
:
: (Jointly Administered)
1
Debtors. :
: Obj. Deadline: June 5, 2023 at 4:00 p.m. (ET)
: Hearing: June 22, 2023 at 10:00 a.m. (ET)
------------------------------------------------------------ x
NOTICE OF SECOND INTERIM FEE APPLICATION
REQUEST OF RICHARDS, LAYTON & FINGER, P.A.
Name of applicant (the “Applicant”): Richards, Layton & Finger, P.A.
the above-captioned debtors and debtors in
Authorized to provide professional services to: possession
Date of retention: October 28, 2022 nunc pro tunc to October 3, 2022
Period for which compensation and
reimbursement is sought: January 1, 2023 through March 31, 2023
Amount of compensation sought as
actual, reasonable, and necessary: $1,019,028.50
Amount of expense reimbursement sought
as actual, reasonable, and necessary: $33,508.93
This is a(n): X interim ____ final application
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.
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Case 22-10951-CTG Doc 824 Filed 05/15/23 Page 2 of 4
Summary of fee applications for the compensation period:
Total Amount Approved Holdback
to Date via Certification Fees
Total Amount Requested of No Objection Requested
Date
Filed and
Docket Period Fees Expenses Fees
No. Covered Fees Expenses (@ 80%) (@ 100%) (@ 20%)
3/8/23 1/1/23 –
$323,673.50 $10,333.27 $258,938.80 $10,333.27 $64,734.70
[D.I. 621] 1/31/23
4/13/23 2/1/23 –
$231,181.00 $3,901.88 $184,944.80 $3,901.88 $46,236.20
[D.I. 767] 2/28/23
$0.00 $0.00 $0.00
Pending Pending Pending
5/15/23 3/1/23 –
$464,174.00 $19,273.78 objection objection objection
[D.I. 819] 3/31/23
deadline of deadline of deadline of
6/5/23 6/5/23 6/5/23
$1,019,028.50 $33,508.93 $443,883.60 $14,235.15 $110,970.90
Total:
Summary of any objections to fee applications: None.
PLEASE TAKE NOTICE that, pursuant to the Court’s Order Establishing
Procedures for Interim Compensation and Reimbursement of Expenses of Professionals, dated
October 21, 2022 [Docket No. 136] (the “Interim Compensation Order”)2, objections, if any, to
this Interim Fee Application must be filed with the Court by June 5, 2023 at 4:00 p.m. (ET) and
served on the Applicant at the address set forth below and the Notice Parties.
PLEASE TAKE FURTHER NOTICE that a hearing to consider this Interim Fee
Application will be held on June 22, 2023 at 10:00 a.m. (ET) before the Honorable Craig T.
Goldblatt, United States Bankruptcy Judge for the District of Delaware, at the Court, 824 N.
Market Street, 3rd Floor, Courtroom No. 7, Wilmington, Delaware 19801.
2
Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Interim
Compensation Order.
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2
Case 22-10951-CTG Doc 824 Filed 05/15/23 Page 3 of 4
PLEASE TAKE FURTHER NOTICE that, (i) attached hereto as Exhibit A is a
summary of compensation by each professional of the Applicant that worked on the above-
captioned chapter 11 cases, (ii) attached hereto as Exhibit B is a summary of compensation by
project category, (iii) attached hereto as Exhibit C is an expense summary, (iv) attached hereto as
Exhibit D are the Applicant’s customary and comparable compensation disclosures, (v) attached
hereto as Exhibit E is the Budget for Richards, Layton & Finger, P.A., as Co-Counsel to the
Debtors, for the Period from January 1, 2023 through March 31, 2023 (the “Budget”) and the
Staffing Plan for Richards, Layton & Finger, P.A., as Co-Counsel to the Debtors, for the Period
from January 1, 2023 through March 31, 2023 (the “Staffing Plan”), (vi) attached hereto as
Exhibit F is a summary of fees and hours budgeted compared to fees and hours billed,
(vii) attached hereto as Exhibit G are certain additional disclosures related to the Interim Fee
Application and (viii) attached hereto as Exhibit H is a certification, wherein an attorney of the
Applicant certifies to certain matters addressed in the Interim Compensation Order.
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Case 22-10951-CTG Doc 824 Filed 05/15/23 Page 4 of 4
IF NO TIMELY OBJECTIONS ARE FILED TO THIS INTERIM FEE
APPLICATION, THE COURT, IN ACCORDANCE WITH THE TERMS OF THE
INTERIM COMPENSATION ORDER, MAY ENTER AN ORDER GRANTING THIS
INTERIM FEE APPLICATION WITHOUT A HEARING.
Dated: May 15, 2023
Wilmington, Delaware
/s/ Amanda R. Steele
RICHARDS, LAYTON & FINGER, P.A.
Daniel J. DeFranceschi, Esq. (No. 2732)
Amanda R. Steele (No. 5530)
Zachary I. Shapiro (No. 5103)
Matthew P. Milana (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
Attorneys for the Debtors and Debtors in
Possession
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