Judge Removes Seaborne Airlines Execs Over Sale Bid Concerns
The U.S. Bankruptcy Court for the Southern District of Florida has removed Seaborne Airlines’ senior management and appointed a trustee to oversee the airline’s sale process, citing concerns over transparency and credibility.
Judge Peter Russin made the ruling after Seaborne failed to present evidence verifying that its current stalking horse bidder, STK I US LLC—linked to the NELLA Linhas Aéreas Group—had the financial capacity to complete the purchase. The decision removes CEO Steven Rossum and CFO Pedro Motta from their roles.
On June 25, 2025, Canadian lessor Kenn Borek Air, which leases Seaborne’s sole aircraft (a DHC-6-300), filed an objection to the proposed sale. While not opposing the sale outright, the company raised multiple issues, including unapproved changes to the lease agreement and concerns over the buyer’s ability to fulfill financial obligations.
Kenn Borek’s counsel, Barbra Parlin, criticized the buyer’s legitimacy, stating that NELLA Airlines has no active operations and may be a shell entity. The aircraft lease expires in October 2025 and will not be renewed.
NELLA has a history of failed airline investments across Latin America, including in Aeromar, Albatros, and Amaszonas. Meanwhile, Bellair Aviation Holdings LLC, an alternate bidder claiming to offer more favorable terms, received no response from Seaborne’s management.
Seaborne was previously set to be acquired alongside Silver Airways by Argentum Acquisitions LLC, but that deal collapsed after a forced FAA maintenance grounding caused a $1 million loss in May. Silver Airways has since been sold to Wexford Capital, which shut down its flight operations.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com