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Megaproject developer nears bankruptcy exit
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Megaproject developer nears bankruptcy exit
By Angela Gonzales | Phoenix Business Journal Scottsdale-based Five Star Development is one step closer to emerging from Chapter 11 bankruptcy protection as it works to get an ambitious $2 billion project back on track. Five Star and its lender Madison Realty Capital have agreed on a term sheet, which was approved by a bankruptcy court judge June 30, that will provide the liquidity necessary for the debtors to continue pursuing restructuring eff…
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