But opting out of some of these cookies may have an effect on your browsing experience. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. They reaffirmed that the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. I cant afford the loan and have negotiated with Barclays to reduce therepaymentsbut I still owe 15,000.. We use cookies to track the number of opens and clicks on both newsletters RDO Weekly News and RDO Insider. Inside Timeshare published the 6 part series on the liquidations of Limora Investments Ltd and other companies in the group and the reasons behind them, see the link to all the articles below. Customers had complained that the terms of the loans were not explained to them, and that proper credit checks were not carried out and that they were pressured into signing deals. Once again it is Alex Lawson of Alvarez and Marsal of the Cayman Islands who has been appointed administrator, as we know he and his company are behind the mass liquidations of all of the companies owned by the late Robert Bob Trotta. It was sold to Corinthia in 2015. x-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. If you are approached, get all the details you can preferably asking those that make the approaches to put details in an email to you. Re: Golden Sands, Mellieha. When I gothomeI thought, what the hell am I doing?Rebbeckwas left to care for his two children after his wife died in 2016. The landmark Azure Window, off the Maltese island of Gozo, has collapsed into the sea during a storm. Inside Timeshare has received many enquiries as to what is going to happen to members of the "club"? Azure Kubernetes Service Edge Essentials is an on-premises Kubernetes implementation of Azure Kubernetes Service (AKS) that automates running containerized applications at scale. IHI owns 50% of the Golden Sands Resort and the Azure Group. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. He said they are having hundreds of calls about it. azure malta liquidation. This website uses cookies to improve your experience while you navigate through the website. These cookies do not store any personal information. Products Databases. The first creditors meetings have taken place with regard to the various Azurecompanies. Malta Malta's Azure Window collapses after heavy storm - video The landmark limestone arch that once featured in Clash of the Titans and Game of Thrones has tumbled into the sea . Most readers know that Azure Malta went into liquidation earlier this year, however with the efforts of the joint liquidators a new management company was formed, being Vacation Club Services Limited (VCSL), to act as the new club manager. Back in December last year Inside Timeshare reported that Azure Services Ltd had ended the sales of timeshare, this resulted in the loss of around 80 jobs. The Azure Group initially introduced the Island Residence Club in 2003 and after establishing the Club as one of Europe's most exclusive Vacation Owne See more 34,952 people like this 34,480 people follow this http://www.azuregoldensands.com/ +356 2356 1000 info@azure.com.mt However, it seems the COVID-19 pandemic derailed their plans, with the tourism effectively shut down for at least the next few months due to the outbreak. The other half is owned by a group of international investors specialising in timeshare resort operations. We will be contacting those impacted to apologise for what has happened, and to let them know how we will be putting this right.. Creditors have been notified that on May 11 a telephone conference would be held to appoint Richard Galea Debono as liquidator. Sometimes we include content from other sites on our site, for example, YouTube videos. May 5, 2020 at 2:46 pm Azure Services, a Corinthia-owned tourism and timeshare company at the Radisson Blu Golden Sands, has filed for liquidation amid the COVID-19 pandemic, leaving roughly 30 jobs at risk. This. On 28 April 2020, Mr Wesley Edwards of CVR Global (B.V.I.) We recently published a revised version of our. 07-05-2020, 01:31 PM. Latest TimeshareTaskForce Customer Testimonial, Request for Erasure/Remove Consent/Subject Access Request/Update Data. The Azure Window during happier times. We refer you to an article published on the website of Inside Timeshare yesterday (05/05/2020), which we reproduce below: Today Inside Timeshare has been notified that Azure Services Limited, the sales and marketing company behind the sales of timeshare and vacation club memberships at the Radisson Blu Resort and Spa, Golden Sands in Malta has now filed for liquidation. When you use our websites to view the information we make available, a number of cookies are used by others and by third parties to allow the website to function, to collect useful information about visitors and to help to make your user experience better. This is not the first time that Azure has hit the headlines for all the wrong reasons: https://www.investegate.co.uk/m1-legal/rns/timeshare-mis-sellingthe-next-financial-scandal-/201901171348054103N/, https://www.thetimes.co.uk/article/gary-neville-s-link-to-alleged-mis-selling-of-malta-timeshares-pfxq0tznv. We use cookies to ensure that we give you the best experience on our website. It should be noted that the Radisson Blu Golden Sands Resort and Spa is not in liquidation and continues to operate normally, within the current restrictions of the travel environment. It was set up by the Island Hotels Group in 2003. ForAzuretimeshare owners, the principal interest is in the continuing right to use their weeks at the resort and KwikChex is advised that there is no change to previous statements in this regard i.e., that the rights will continue as soon as the travelrestrictions related to Covid-19 are lifted. It first hit the news in 2019 for misselling timeshares to hundreds of British holidaymakers in 2019. Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. Executive How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks. By browsing this site you are giving your consent for us to set cookies. It was sold to Corinthia in 2015. 12-14 The Crescent, Privacy Policy Radisson Blu Golden Sands. The email received by the consumer from Azure contained the following information: Please notethis important update from the Joint Liquidators, which includes reference to the appointment of the new club manager. The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. A vote on the potential nominee for the office of the liquidator will also be taken. Azure, Golden Sands time share company 2 years ago Save For people with time share weeks at Golden Sands hotel, be aware Azure, the operator, has gone into liquidation. Azure Services Limited is an MFSA registered company currently owned by Corinthia and Mediterranean Overseas Holdings Limited. Further updates are expected to be available next week. The statement may be viewed by following this link: https://www.corinthiagroup.com/wp-content/uploads/2020/05/Company-Announcement.pdf. Kindly check your inbox after sign-up to confirm subscription. You can configure or reject the use of cookies or obtain more information in our Privacy Policy. Sources have claimed that the company also applied for and received the COVID-19 supplement for the April salary. All shareholders have reaffirmed their commitment towards the future of the Golden Sands Resort as a high-end luxury destination. If they know more about you than they should, thats also not a good sign. 2,275 sales | 4.5 out of 5 stars. Azure Services Ltd. Malta Liquidation 07/05/20. For and on behalf of FNTC (UK) Ltd. Azure Malta Aug 2018 - Jun 20201 year 11 months Malta Azure tailors luxury club memberships to today's demanding market providing membership and experiences for Resorts, an Exotic Car Club,. Members of the timeshare clubs managed by the Company are considered to be a stakeholder in the liquidation to the extent that the Company remains the club managerfor Island Residence Club, The Heavenly Collection and Azure Ultra. In fact, the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. LTD. (Singapore, 8 Feb 2019 - ) Borrowers claimed that false representations were made about the financial impact of the loans, they were not properly informed of their duration and that vulnerable consumers were inappropriately treated. Boss the game, deliver masterful ball control, and be the apex Predator in your game. But opting out of some of these cookies may have an effect on your browsing experience. RDO acknowledges that this is a very uncertain time for owners at either of the Clubs managed by the companies in liquidation, but would strongly advise owners to be very cautious regarding any approaches made regarding compensation claims, as we have seen many examples of attempts to defraud consumers in similar circumstances. However, it later discovered the staff were employed by the unlicensed Azure Services Limited. All rights reserved. We'll assume you're ok with this, but you can opt-out if you wish. Out of the blue Azure timeshare owners received emails from the Company's Joint Liquidators Mr Wesley Edwards of CVR Global (B.V.I.) Cookie Policy Adding further to the above article, the Corinthia group published an announcement on their website on 5th May 2020 giving their insight and comments regarding the Azure situation. The liquidator will also be tasked in paying any wages due to employees. You also have the option to opt-out of these cookies. The question that Inside Timeshare asks now is who are the creditors? Are they all those consumers who purchased the investment weeks and never received the rentals or the sales they were promised, or is it just another way of avoiding the possibility of legal action in the Maltese courts against Azure, just like Silverpoint in Tenerife?. You can revoke your consent any time using the Revoke consent button. Who to fire? The Times revealed last yearthat the Financial Conduct Authority (FCA) was investigating loans made to timeshare buyers at resorts in Malta which had been part-owned by Neville and Ryan Giggs,. Free shipping for many products! For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk, Timeshare Consumer Association is a company limited by guarantee registered in England under number 12662338. You also have the option to opt-out of these cookies. Azure Resorts Limited has entered into liquidation procedures, Anfi Emerald Club resort has become a hotel on call for emergency situations, Anfi begins the easing of its own lockdown with the reopening of its luxury villas in Tauro, https://rdo.org/industry-updates/new-club-manager-appointed-for-azure-resorts/, Harry Taylor, former chief executive of TATOC, has died, Interval International co-sponsors development program for Caribbean Hospitality and Tourism professionals, Interval International hosts 29th Annual Toy Fest to benefit the children of South Miami. Click here to browse all stories. We also use third-party cookies that help us analyze and understand how you use this website. Around 80 people lost their jobs right before Christmas. For all the latest news and views from RDO. This has been The Azure Window has collapsed and it is not just the top part which has fallen off - even the stacks have gone. From the copy email that we received, Themis are obviously mounting a cold calling campaign from stolen Azure client data. The company ran into financial trouble towards the end of 2019. Request for Erasure/Remove Consent/Subject Access Request/Update Data Barclays Bank has been forced to compensate 1,500 customers who were missold timeshare loans worth up to 48 million by Malta's Azure Services, a Corinthia-owned tourism and timeshare company at the Radisson Blu Golden Sands. We would also urge Azure timeshare owners to be very cautious regarding any approaches made regarding compensation claims. KwikChex has been in contact with the liquidators, who continue to reassure that the benefits of timeshare ownership will remain. Timeshare Consumer Association Limited is registered as a data controller with the information commissioners office (ico) under registration number: ZA765267. Employees were given the news through an e-mail sent by the companys head of finance and corporate affairs, Mark Galea, who thanked them for their years of service. You can still enjoy your subscription until the end of your current billing period. The fact that a foreign company has a branch in Malta does not, of itself, constitute residence. cookies Here is a reproduction of an email received from one concerned Azure owner: Had a call from these, and others have also. Welcome to the start of another week with Inside Timeshare, today we publish the following press release from the Azure Malta Action and Support Group and their ongoing battle with Barclays Partner Finance. "Today Inside Timeshare has been notified that Azure Services Limited, the sales and marketing company behind the sales of timeshare and vacation club memberships at the Radisson Blu Resort and Spa, Golden Sands in Malta has now filed for liquidation. or Google Chrome Click here to view a copy of the PDF of decision made in August 2018 by Judge Timothy Herrington. https://lovinmalta.com/news/maltese-time-share-company-at-golden-sands-files-for-liquidation-amid-covid-19-pandemic/ Report inappropriate content 1-2 of 2 replies Sorted by 1 Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Two geological wonders sit side-by-side on the Maltese island of Gozo: the Azure Window and the Blue Hole. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. In addition, shareholders have also reaffirmed that the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. Liquidation lot - 750,000 plus preset crystals 2.5mm CrystalQueenDesigns Following Follow. Kind Regards Mediterranean Overseas Holdings Ltd is also another company owned by the late Bob Trotta under the parent company the Limora Group. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. Keeping this cookie enabled helps us to improve our website. The company, Azure Services Limited, markets timeshare at the resorts formerly owned by Island Hotels and Winston Zahra, of . Timeshare Consumer Association Limited is registered as a data controller with the information commissioners office (ico) under registration number: ZA765267. Customer Stories. The window is a towering rock formation reaching 328 feet (100 meters) high with a . Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Reference to the restructuring process was made in a company announcement issued on May 5 by International Hotel Investments, which incorporates the Corinthia Group. It collapsed into the sea on March 8th. Located on the West coast of Gozo, Dwejra is perhaps the most spectacular natural monument in Malta.. Geology, time, the elements and human intervention worked together to produce a fascinating area that features the Azure Window, an Inland sea, Fungus Rock, Dwejra bay, the Blue Hole, a watch tower and cart ruts. KwikChexis a Registered Trademark, KwikChex Ltd, 07376192, Data Protection Policy These cookies do not store any personal information. In the interim, should you have any queries pertaining to the liquidation process and/or the appointment of the new Club manager, please contact azureresortsliquidation@cvr.global. Kindly check your inbox after sign-up to confirm subscription. There Are Now Zero COVID-19 Patients In Maltas ITU, Get Nominating Now! A liquidator is an officer of the court, his appointment is ratified by creditors. Roger Chessell, a Xagra resident, was at Dwejra when the window collapsed at . Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The full statement can be read HERE. These were formalities as such to enable the continuation of the liquidation process. All of these matters are likely to be complex and take some time and KwikChex will do all possible to provide updates. In # May 2020, members of the above Clubs received notification that Azure Resorts Limited, Azure Services Limited and Azure XP Limited had gone into Liquidation. Azure hoped the company would move. 109519. Taunton, However, the JLs would advise you to seek your own independent legal advice as to the terms of your loan agreement as they may vary from person to person and institution to institution.If my week was on the resales register, what happens now?The resales register was operated by the Company in its role as club manager to assist members in disposing of entitlements they no longer desired to hold. You can revoke your consent any time on our Privacy Policy page. Malta (356) 2247 6100 info@premium.com.mt. Helpline Hours When a company is deemed to be solvent, the liquidation process would typically involve a members' voluntary winding up which is triggered by the shareholders of the company. Liquidation is a formal insolvency process governed by the Act the purpose of which is to protect an insolvent company's creditors. But is it bad? Azure hoped the company would move away from the sale of timeshare products and services and focus more on traditional high-end tourism at the resort. Copyright 2023 Times of Malta. It is understood Barclays had a contract with Azure Resorts Limited, which was authorised by the FCA for credit broking, but later discovered the staff were employed by the unlicensed Azure Services Limited. British multinational banking giant Barclays will pay almost 181 million (215 million) in compensation to around 6,000 customers who were improperly sold timeshares in Malta via the now-defunct Azure Services, according to The Telegraph. Registered Office: Artemis House, 4a Bramley Road, Mount Farm, Milton Keynes, MK1 1PT. Last December, it announced it would no longer sell timeshare and holiday clubs but focus on its existing members. Future of Air Malta. So far we have a nonexistent company that was formed less than two months ago, this is not looking good. Azure Resorts Limited, which manages Golden Sands Island Residence Club based in Malta, (Island Residence Club, The Heavenly Collection (including Sands Towers)), and Azure XP Limited, which manages Azure XP Membership Club, have both entered into liquidation on 27th April 2020. All Rights Reserved. These cookies will be stored in your browser only with your consent. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. Attachment Club Transfer Communication (opens a PDF). I know its a scam but they are scaring people by saying that the membership fees are being used to pay off the loan to FNTC as the loan is going to be called in early next year and VCMS will have no money to run the clubs therefore another liquidation. Somerset, For these to work the social media will set cookies through our site which may be used to enhance your profile on their site or contribute to the data they hold for various purposes outlined in their respective privacy policies. If you have any questions on this letter please contact the liquidators at the address provided in the letter. Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. Whilst it is too early to foresee the potential fallout from this news, we at TCA will be keeping a close eye on developments and will of course publish updates as and when. The Companies Act [CAP. Premium access for businesses and educational institutions. Beware of Scammers, Pro Timeshare Resales exposed by Action 9. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.

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