PARADISE VALLEY, Ariz. and SCOTTSDALE, Ariz., Nov. 4, 2025 /PRNewswire/ — 5 Big name Construction, LLC and affiliated entities (in combination, “Five Star” or the “Company”), together with the ones growing The Palmeraie, as of late introduced that it has filed voluntary petitions for Bankruptcy 11 coverage within the U.S. Chapter Court docket for the Southern District of Texas.
The submitting is meant to form a sunny, court-supervised trail towards finishing The Ritz-Carlton Paradise Valley, The Palmeraie (the “Project”)—a 122-acre master-planned lodge, residential, and comfort retail vacation spot. To safeguard alignment throughout indistinguishable belongings and stakeholders, alternative Texas-based 5 Big name entities have additionally filed for Bankruptcy 11 coverage.
“This process provides the structure and transparency needed to bring the resort to completion and preserve the integrity of one of the most important developments in Arizona,” mentioned Gerald C. Ayoub, Founder and Most important of 5 Big name Construction. “Our commitment to the Ritz-Carlton brand, our buyers, and our community remains unwavering.”
Resort building is in its ultimate section, with considerably all infrastructure whole, and comfort inside finishes able to start out as soon as backyard approvals are finalized. Upon final touch, The Ritz-Carlton, Paradise Valley, The Palmeraie will contain a 215-room Ritz-Carlton lodge, 80 branded Villas, 32 Property Houses, and a 29-acre luxurious retail and eating district.
Bankruptcy 11 preserves 5 Big name’s keep watch over over the Mission and strengthens coverage for stakeholders because the Corporate advances towards a complete building restart and final touch of the lodge. The automated keep imposed by way of the submitting will offer protection to 5 Big name and its affiliated borrowers from lender assortment process, together with movements by way of the Corporate’s tied lender, Madison Realty Capital. A Texas shape backyard not too long ago motivated that Madison i’m busy in “acts of manipulation and fraud in breach of their duty of good faith and fair dealing” with appreciate to 5 Big name.
“This filing is about preserving the extraordinary progress already made and securing the Project’s successful completion,” mentioned Lance Miller, Restructuring Officer of 5 Big name Construction and Managing Spouse of Pivot Control Staff. “Our priority is to position the company for a strong construction restart and deliver the world-class destination that the community has long anticipated.”
During this procedure, 5 Big name will proceed customary operations throughout all Mission websites and guard full-service facilities for householders and citizens with out interruption. Alternative 5 Big name borrowers will function of their regular route put up Bankruptcy 11 filings.
5 Big name is represented by way of O’Melveny & Myers LLP as prison recommend and Pivot Control Staff as Restructuring Officer and restructuring guide.
Supplementary data in regards to the Bankruptcy 11 submitting, backyard paperwork, and claims procedure is to be had at https://cases.stretto.com/FStarSocorro.
About 5 Big name Construction
5 Big name Construction is a chief industrial actual property developer with a just about five-decade monitor report turning in transformative, high-value initiatives around the Southwest. Since 1978, the Corporate has evolved, built, and controlled greater than 20 million sq. ft of residential, hospitality, retail, workplace, and commercial actual property, representing greater than $3.5 billion in funding. As of late, the 5 Big name’s portfolio contains greater than 7 million sq. ft of income-producing houses beneath energetic possession and control.
SOURCE 5 Big name Construction
