LRC served as sole counsel to Seastar Holdings, Inc. and two other affiliated entities (collectively, the “Debtors”) , a Puerto Rico based Caribbean regional airline, in their chapter 11 cases in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) filed on January 8, 2018. LRC advised the Debtors in all aspects of their bankruptcy proceedings including through a comprehensive sale process, which resulted in the sale of substantially all of their assets to an affiliate of Florida based Silver Airways, LLC. Throughout the sale process, LRC also assisted the Debtors in negotiations with their stakeholders and other parties in interest leading to a fully consensual sale. The sale was approved by the Bankruptcy Court on March 27, 2018 and closed on April 23, 2018.
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