Notice Of Third Interim And Final Fee (Doc 919)
Summary
A notice of the Third Interim and Final Fee Application of Weil, Gotshal & Manges LLP, authorized to provide professional services to the Debtors and Debtors-in-Possession, filed July 20, 2023 as Doc 919 in In re Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951 (CTG), in the U.S. Bankruptcy Court for the District of Delaware. For the third interim period of April 1, 2023 through June 20, 2023 it seeks $783,819.00 in compensation and $8,242.32 in expenses. For the final period of October 3, 2022 through June 20, 2023 it seeks $11,020,968.50 in compensation and $72,043.36 in expenses. The five-page notice summarizes the prior interim applications and monthly statements, lists an objection deadline of August 10, 2023 and a hearing on August 22, 2023, and reports $792,061.32 in compensation sought but not yet paid.
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Full text
Case 22-10951-CTG Doc 919 Filed 07/20/23 Page 1 of 5
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)
Debtors.1 :
:
: Obj. Deadline: August 10, 2023 at 4:00 p.m. (ET)
------------------------------------------------------------ x Hearing: August 22, 2023 at 1:00 p.m. (ET)
NOTICE OF THIRD INTERIM AND FINAL FEE
APPLICATION OF WEIL, GOTSHAL & MANGES LLP FOR
PAYMENT OF COMPENSATION AND REIMBURSEMENT OF EXPENSES
FOR THE (I) THIRD INTERIM OF PERIOD APRIL 1, 2023 THROUGH JUNE 20, 2023
Name of Applicant Weil, Gotshal & Manges LLP
Authorized to Provide Professional Services to: Debtors and Debtors-in-Possession
Date of Retention: October 21, 2022 effective as of October 3,
2022
Interim Period for which compensation and April 1, 2023 through and including June 20,
reimbursement is sought 2023 (the “Third Interim Fee Period”)
Amount of interim compensation sought as $783,819.00
actual, reasonable, and necessary
Amount of interim expense reimbursement $8,242.32
sought as actual, reasonable, and necessary:
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.
Case 22-10951-CTG Doc 919 Filed 07/20/23 Page 2 of 5
Final period for which compensation and October 3, 2022 through June 20, 2023
reimbursement is sought: (the “Final Fee Period”)
Amount of final compensation sought as actual,
reasonable, and necessary: $11,020,968.50
Amount of final expense reimbursement sought
as actual, reasonable, and necessary: $72,043.36
This is a (n) ___ monthly X interim X final application
2
Case 22-10951-CTG Doc 919 Filed 07/20/23 Page 3 of 5
SUMMARY OF PRIOR INTERIM FEE APPLICATIONS
FIRST INTERIM FEE APPLICATION (Docket No. 530)
Total Amount Requested Total Amount Paid
Date Filed /
Period Covered Fees Expenses Fees Expenses
Docket No.
October 3, 2022
12/02/2022
through $1,520,554.50 $1,741.12 $1,520,554.50 $1,741.12
(Docket No. 321)
October 31, 2022
November 1, 2022
12/29/2022
through $1,519,672.25 $11,087.84 $1,519,672.25 $11,087.84
(Docket No. 389)
November 31, 2022
December 1, 2022
02/01/2023
through $1,586,300.50 $6,583.58 $1,586,300.50 $6,583.58
(Docket No. 510)
December 31, 2022
Total: $4,626,527.25 $19,412.54 $4,626,527.25 $19,412.54
2
Case 22-10951-CTG Doc 919 Filed 07/20/23 Page 4 of 5
SECOND INTERIM FEE APPLICATION (Docket No. 530)
Total Amount Requested Total Amount Paid
Date Filed /
Period Covered Fees Expenses Fees Expenses
Docket No.
03/03/2023 January 1, 2023 through
$1,966,530.50 $14,835.24 $1,966,530.50 $14,835.24
(D.I. 600) January 31, 2023
03/29/2023 February 1, 2023 through
$1,559,369.00 $13,426.43 $1,559,369.00 $13,426.43
(D.I. 738) February 28, 2023
05/10/2023 March 1, 2023 through
$2,084,722.75 $16,126.83 $2,084,722.75 $16,126.83
(D.I. 813) March 31, 2023
Total: $5,610,622.25 $44,388.50 $5,610,622.25 $44,388.50
3
Case 22-10951-CTG Doc 919 Filed 07/20/23 Page 5 of 5
SUMMARY OF THIRD INTERIM FEE PERIOD:
Total Amount Approved to Holdback
Total Amount Requested Date via Certification of No Total Amount Paid to Date Fees
Objection Requested
Date
Filed / Period Fees Expenses Fees
Fees Expenses Fees Expenses
Docket Covered (@ 80%) (@ 100%) (@ 20%)
No.
April 1,
2023
06/13/2023
through $392,323.00 $5,782.50 $313,858.40 $5,782.50 $0.00 $0.00 $78,464.60
(D.I. 862)
April 30,
2023
May 1,
2023
07/13/2023
through $313,299.50 $2,335.25 $250,639.60 $2,335.25 $0.00 $0.00 $62,659.90
(D.I. 896)
May 31,
20232
June 1,
2023
07/19/2023
through $78,196.50 $124.57 $62,557.20 $124.57 $0.00 $0.00 $15,639.30
(D.I. 904)
June 20,
20233
Total: $783,819.00 $8,242.32 $627,055.20 $8,242.32 $0.00 $0.00 $156,763.80
Summary of Any Objections to Monthly Fee Application: None.
Compensation Sought in this Application Not Yet Paid: $792,061.32
2 The objection deadline with respect to Weil’s eighth monthly fee statement is August 2, 2023 at 4:00 p.m.
(prevailing Eastern Time). Once the objection deadline has passed without objection, the Debtors will remit to
Weil $250,639.60 in fees (80% of $313,299.50) and $2,335.25 in expenses.
3 The objection deadline with respect to Weil’s ninth monthly fee statement is August 8, 2023 at 4:00 p.m.
(prevailing Eastern Time). Once the objection deadline has passed without objection, the Debtors will remit to
Weil $62,557.20 in fees (80% of $78,196.50) and $124.57 in expenses.
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