UNITED ~~STATES~~STATESSECURITIES ~~SECURITIES~~ AND EXCHANGE COMMISSIONWashington, D.C. 20549

EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT ~~REPORT~~REPORTPursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934Date of Report (Date of earliest event reported) January 21, 2008

~~Pursuant~~STAR toRESORTS ~~Section 13 OR 15~~DEVELOPMENT INC.(d)Exact name of ~~The~~registrant ~~Securities~~as ~~Exchange~~specified ~~Act~~in ~~of 1934~~its charter)

~~Date of Report~~ Nevada(~~Date~~State ofor ~~earliest~~other ~~event~~jurisdiction ~~reported~~of incorporation) ~~June 15, 2007~~

~~STAR~~000-52449(Commission ~~RESORTS~~File ~~DEVELOPMENT INC.~~Number)

98-0521492(~~Exact~~IRS ~~name~~Employer ~~of registrant as specified in its charter~~Identification No.)

~~Nevada~~701 Brickell Ave., Suite 1550, Miami, FL 33131(Address of principal executive offices and Zip Code)

305-728-5254(~~State~~Registrant's ortelephone ~~other~~number, including ~~jurisdiction~~area ~~of incorporation~~code)

~~333-135050~~N/A(Former name or former address, if changed since last report)

(Commission File Number)

98-0521492

(IRS Employer Identification No.)

14 Rue de Malagny, 1196 Gland, Switzerland

(Address of principal executive offices and Zip Code)

41.79.297.8336

(Registrant's telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 3.02 Unregistered Sales of Equity Securities

On June 15, 2007, we closed a private placement consisting of 400,000 units of our securities (the “Units”) at a price of US $0.25 per Unit for aggregate proceeds of $100,000. Each Unit consists of one common share and one share purchase warrant (a “Warrant”), one Warrant shall be exercisable into one common share (a “Warrant Share”) at a price of US $0.75 per Warrant Share until June 15, 2010.

We issued the Units to a non-U.S. person (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.

Item 9.01.	Financial Statements and Exhibits.
10.1	Subscription Agreement
10.2	Warrant certificate

- 2 -

Item 1.01

Entry into a Material Definitive Agreement

On January 21, 2008 we entered into an assignment agreement with Latin Star Developments Inc. (“Latin Star”), a Nevis company wholly-owned by our director, David Craven. Latin Star owns rights to the shares and other assets (the “Assets”) through a memoranda of understanding (the “MOU”), real estate purchase agreement (the “REPA”) and other related documents (collectively, the “Memoranda”). The Memoranda may be assigned by Latin Star to the Company without the consent of any other parties;

In accordance with the Memoranda, Latin Star has paid the amount of $3,450,000: the sum of $3,250,000 pursuant to the MOU and the sum of $200,000 pursuant to the REPA;

Under the terms of the assignment agreement, Latin Star will assign to us, all of Latin Star’s right, title, interest in the Assets for consideration of 6,900,000 shares of our common stock.

A copy of the agreements relating to the above transactions are attached hereto as exhibits to this current report on Form 8-K. The foregoing summaries of the agreements are qualified in their entirety by reference to such exhibits, which are incorporated by reference herein.

Item 9.01.	Financial Statements and Exhibits.

10.1	Assignment Agreement dated December 20, 2007

- 3 -

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

STAR RESORTS DEVELOPMENT INC.

/s/ ~~Enrique~~Alejandro ~~Abaroa Martinez~~Aparicio

~~Enrique~~Alejandro ~~Abaroa~~AparicioPresident ~~Martinez~~and CEO

~~President~~January ~~and~~22, ~~Director~~2008

Date: June 15, 2007

Filing Compare · Star Resorts Development Inc.