Pretty sure it's not actually down to semantics. Chefs who have received 1 or even 2 Michelin stars for one restaurant they opened may not have any for another.
Dan's flowchart is right, it all comes down to the decor, the menu, the service etc. and this is just another case of people trying to buy a name. Maybe it will be that good, but having "at least one Michelin twp-star chef" doesn't mean it will be. The chef may have little control over certain important issues essential to running a restaurant to those standards (I'm definitely thinking staff here, but also maybe ingredients and possibly even the menu).
And of course, once the European management leaves after a year or two it's anybody's guess what happens to the quality...

