- Celebration Pointe’s bankruptcy plan depends on primary investor Patricia Shively contributing over $50 million to pay creditors and avoid Chapter 7 liquidation.
- The bankruptcy involving three Celebration Pointe entities has lasted over 26 months due to complex ownership, multiple creditors and ongoing lawsuits.
- A hearing on July 14 will review the third bankruptcy plan amid disputes, with risks of uncoordinated liquidation affecting the community and property values.
Entities managing Celebration Pointe filed a third version of a liquidation plan in late June as it tries to get nine major creditors, plus multiple parties with other claims, in agreement and avoid an unstructured Chapter 7 liquidation, which the plan says would likely be the next step if parties fail to agree on the current proposal.
But the entire plan rests on Patricia Shively, the primary investor in Celebration Pointe, contributing more than $50 million to pay off creditors in the following years. Shively has already invested more than $100 million into the development over the past 10 years and sued Celebration Pointe entities and her own financial advisor in 2025 for allegedly scamming her into the deal.
Scott Shuker, bankruptcy attorney for the Celebration Pointe companies, said in the bankruptcy filing that four creditors have agreed in principle to the plan. In a June 30 submission to the bankruptcy court, he said he believes the Florida Department of Transportation (FDOT) and Bank of America will also agree to the plan…