SeaStar Holdings, Inc., along with two of its subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-10039). SeaStar operates a passenger airline based in San Juan, Puerto Rico under the name Seaborne Airlines. SeaStar’s Petition reports $1 – $10 million in assets and $10 – $50 million in liabilities. According to the First Day Declaration, SeaStar has secured $10.19 million in debtor-in-possession funding from Volant SVI Funding, LLC and intends to pursue a sale under Section 363 of the Bankruptcy Code, with SB Acquisition 2017, Inc. serving as the stalking horse. Rust/Omni is the proposed claims and noticing agent. The cases have been assigned to the Honorable Laurie Selber Silverstein.