Debt, Advisors, and the Road Ahead
In its petition, Five Star listed over $12 million in unsecured trade debt, signaling significant financial strain despite the high-profile nature of the project.
The company has enlisted heavyweight advisers to navigate the reorganization: O’Melveny & Myers LLP will serve as legal counsel, while Pivot Management Group steps in as Chief Restructuring Officer and restructuring advisor.
For now, the fate of the Palmeraie rests in the delicate balance of bankruptcy court proceedings — a gamble that could either revive a luxury dream or redefine it under financial pressure.
