Order Approving Stipulation Between KServicing and Creative — In re Kabbage (Dkt. 1109, Bankr. D. Del.)

Summary

An Order Approving Stipulation Between KServicing and Creative Property Preservation Inc. in In re KServicing Wind Down Corp., et al., Case No. 22-10951 (CTG), jointly administered Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware, dated January 16, 2025 and filed as Doc 1109. The order approves in its entirety a Stipulation between KServicing Wind Down Corporation and its affiliates, as successors to Kabbage, Inc. d/b/a KServicing, and Creative Property Preservation Inc., resolving objections to Claim Numbers 74 and 251. Claim Number 74 is amended and resolved as a general unsecured claim, and Claim Number 251 is amended to a General Unsecured Claim of $7,500.00. The Court retains jurisdiction over implementation, and the signature block names United States Bankruptcy Judge Craig T. Goldblatt.

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               Case 22-10951-CTG              Doc 1109        Filed 01/16/25        Page 1 of 2




                       IN THE UNITED STATES BANKRUPTCY COURT
                            FOR THE DISTRICT OF DELAWARE

In re:                                                     Chapter 11

KServicing Wind Down Corp., et al.,1                       Case No. 22-10951 (CTG)

                Post-Confirmation Debtors.                 (Jointly Administered)

                                                           Re: Docket Nos. 1053,1066, 1072, 1105

           ORDER APPROVING STIPULATION BETWEEN KSERVICING AND
                   CREATIVE PROPERTY PRESERVATION INC.

         Upon the certification of counsel regarding the Stipulation Amending and Resolving

Objections to Claim Numbers (I) 74 and 251 Between KServicing and Creative Property

Preservation Inc. and Providing Allowance of Claims (the “Stipulation”),2 a copy of which is

attached hereto as Exhibit 1, entered into by and between KServicing Wind Down Corporation

(“KServicing WD”) and its affiliates, as successors to Kabbage, Inc. d/b/a KServicing

(“KServicing”), and Creative Property Preservation Inc. (“Creative Property Preservation”, and

collectively with the KServicing the “Parties”); and this Court being able to issue a final order

consistent with Article III of the United States Constitution; and venue of this Chapter 11 case in

this district being proper pursuant to 28 U.S.C. §§ 1408 and 1409; and this matter being a core

proceeding pursuant to 28 U.S.C. § 157(b); and it appearing that sufficient notice of the Stipulation

has been given; and after due deliberation; and good and sufficient cause appearing therefor;




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: KServicing Wind Down Corp. (f/k/a Kabbage, Inc. d/b/a KServicing) (3937); KServicing
Wind Down Canada Holdings LLC (f/k/a Kabbage Canada Holdings, LLC) (N/A); KServicing Wind Down Asset
Securitization LLC (f/k/a Kabbage Asset Securitization LLC) (N/A); KServicing Wind Down Asset Funding 2017-A
LLC (f/k/a Kabbage Asset Funding 2017-A LLC) (4803); KServicing Wind Down Asset Funding 2019-A LLC (f/k/a
Kabbage Asset Funding 2019-A LLC) (8973); and KServicing Wind Down Diameter LLC (f/k/a Kabbage Diameter,
LLC) (N/A). The Debtors’ mailing and service address is 925B Peachtree Street NE, Suite 383, Atlanta, GA 30309.
2
  Capitalized terms used but not defined herein have the meaning provided in the Stipulation.
              Case 22-10951-CTG          Doc 1109      Filed 01/16/25      Page 2 of 2




         IT IS HEREBY ORDERED THAT:

         1.     The Stipulation is hereby APPROVED in its entirety as set forth herein.

         2.     The Parties are hereby authorized to enter into the Stipulation, substantially in the

form attached hereto as Exhibit 1.

         3.     Claim Number 74 shall be amended and resolved as a general unsecured claim in

the amount of $0.

         4.     Claim Number 251 shall be amended to resolve amount in the Chapter 11 Cases as

a General Unsecured Claim within the meaning of the Plan in the amount of $7,500.00 (the

“Allowed Claims”).

         5.     The Allowed Claims shall resolve and be in satisfaction of all Claims that were

asserted or could have been asserted by Creative Property Control against KServicing.

         6.     The terms of this Stipulation shall become effective upon the entry of this Order.

         7.     The Court shall retain jurisdiction over the Parties hereto with respect to this

Stipulation including, without limitation, for the purposes of interpreting, implementing, and

enforcing its terms.

         8.     The rights of all Parties and non-parties to the Stipulation to move to amend this

Order or the Stipulation are fully reserved.

         9.     The Court shall retain jurisdiction with respect to all matters arising from or related

to the implementation or interpretation of this Order and the Stipulation.




 Dated: January 16th, 2025                         CRAIG T. GOLDBLATT
 Wilmington, Delaware                              UNITED STATES BANKRUPTCY JUDGE




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