PARADISE VALLEY, Ariz. and SCOTTSDALE, Ariz. , Nov. 4, 2025 /PRNewswire/ -- 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 Paradise Valley, The Palmeraie (the "Project")—a 122-acre master-planned resort, residential, and luxury retail destination. To ensure alignment across related assets and stakeholders, other Texas-based Five Star entities have also filed for Chapter 11 protection.

"This process provides the structure and transparency needed to bring the r

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