Edelboim Lieberman PLLC is pleased to announce the successful confirmation of a Chapter 11 Plan for Sextant Stays, Inc. DBA Roami in the United States Bankruptcy Court for the Southern District of Florida, Miami Division.
The case, led by bankruptcy attorney Brett Lieberman of Edelboim Lieberman PLLC, represents a significant achievement in complex restructuring and liquidation proceedings. A central component of the confirmed plan involved the assumption and assignment of approximately 23 significant leases and executory contracts, enabling a seamless transition of operations to the purchaser, CozySuites.
CozySuites
Through this process, all default rent obligations under the assumed agreements were cured, preserving substantial value for the estate and stakeholders. The transaction ensures uninterrupted operations across Roami's locations, directly benefiting thousands of current and future hotel guests.
CozySuites, represented by Christian Somodevilla and Zach Shelomith of Shelomith Law, will continue operating in the acquired locations. With the infrastructure and agreements now firmly in place, CozySuites is well-positioned to deliver high-quality hospitality services to both Roami's existing clientele and new customers.
'This transaction reflects our ability to acquire quickly and decisively in complex situations involving many stakeholders,' said Victor Chen, Co-CEO and cofounder of CozySuites. 'We have successfully integrated the Roami portfolio and continue to demonstrate that we are the leading consolidator in the short-term rental industry.'
'This outcome reflects a highly coordinated effort among all parties to maximize value and maintain operational continuity,' said Brett Lieberman. 'By successfully navigating the assumption and assignment of these key agreements, we were able to facilitate a smooth transition that protects customers and positions the business for continued success under new ownership.'
The confirmed plan highlights the effectiveness of strategic bankruptcy planning in preserving going-concern value, even in liquidation scenarios, and underscores the importance of experienced counsel in achieving optimal outcomes in complex Chapter 11 cases.
Edelboim Lieberman PLLC continues to represent businesses, creditors, and stakeholders in sophisticated bankruptcy and restructuring matters throughout South Florida and beyond.
About Edelboim Lieberman PLLC Edelboim Lieberman PLLC is a Miami-based law firm specializing in bankruptcy, restructuring, and complex commercial litigation, with a focus on Chapter 11 reorganizations, Subchapter V cases, and adversary proceedings.
About Shelomith Law Shelomith Law is a Broward-based law firm specializing in all areas of insolvency law including corporate and consumer bankruptcy cases, and out-of-court restructurings.
About CozySuitesCozySuites, founded in 2017, is the premier urban aparthotel operator delivering thoughtfully designed guest experiences and exceptional results for property partners. Following the integration of the Roami portfolio, CozySuites operates more than 50 buildings across 10 cities including Miami, New Orleans, Minneapolis, Phoenix, Nashville, and Dallas amongst others. [1]
Media Contact:Edelboim Lieberman [email protected]
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