Luxury homebuilder files for Chapter 11 bankruptcy

Group 1: Bankruptcy Filings - Several companies managing hotels and resorts have filed for bankruptcy in late 2025, including the operator of Tuscany and Hotel 27 in NYC, which shut down in September 2025, and Oheka Castle hotel in Long Island, currently under Chapter 11 protection with debts exceeding $60 million [1] - In Canada, the Fairmont-operated log resort Château Montebello is being sold under the supervision of PwC after its owner, China Evergrande Group, accumulated over $300 billion in debts across various properties [2] Group 2: Phil Kean Designs - Phil Kean Designs, a Florida-based luxury construction and architecture firm, filed for Chapter 11 protection in November 2025, citing over $1 million in liabilities and $400,000 in assets [3][4] - The company specializes in architecturally distinctive spaces and environmentally friendly building practices, and it plans to continue operations during the bankruptcy process while working on ongoing projects and acquiring new clients [5][7] - Orlando attorney Daniel A. Velasquez will represent Phil Kean Designs in the bankruptcy proceedings, with a restructuring plan due by February 23, 2026 [6]