Kabbage Says Will Implement Windown Through Chapter 11 Process

Kabbage Inc. says it has voluntarily filed for relief and protections under Chapter 11 in the US Bankruptcy Court for the District of Delaware.

• Has determined that a Chapter 11 restructuring proceeding provides beneficial flexibility and protections for the winding down of its operations in an efficient and effective manner
  • Will also provide a framework for resolution with key stakeholders and a possible global settlement of outstanding disputes
• Focused on minimizing disruption to its loan servicing obligations
• Seeking authorization to continue operating in the ordinary course of business
• Weil, Gotshal & Manges LLP is acting as restructuring counsel; Richards Layton ...