FIVE-STAR DEVELOPMENT INITIATES CHAPTER 11 TO PROTECT THE RITZ-CARLTON PARADISE VALLEY AND ADVANCE COMPLETION OF THE PALMERAIE PROJECT
Five Star Development, LLC and affiliated entities (together, “Five Star” or the “Company”), including those developing The Palmeraie, today announced that it has filed voluntary petitions for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. The filing is intended to create a clear, court-supervised path toward completing The Ritz-Carlton […]