Ayoub puts on positive front amid bevy of Five Star Development debt claims

Photo via Ritz-Carlton

By Melissa Rosequist | Your Valley

Although about $60 million in mechanics’ liens have been filed against Scottsdale-based Five Star Development, the company’s president says these disputes are in no way an indication of troubled waters at the forth-coming Ritz-Carlton Paradise Valley.

“The liens filed from the former contractor are a normal and expected result of that transition process and are in no way indicative of the project being at risk for non-completion,” said Five Star Development President and CEO Jerry Ayoub.

“Contractors have been paid and are being paid. If and when there is a dispute, a process would be underway to resolve it.”

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