TA1 4EB, (Please contact us by web form, email or phone for quickest response), Registered in the UK Both Azure Resorts Ltd and Azure Services Ltd began liquidation proceedings in April 2020. Declaration of Solvency. 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,. "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. The customer story you selected is no longer available. AZURE AVIATION LIMITED (United Kingdom, 10 Mar 2022 - ) AZURE AVIATION PRIVATE LIMITED (India, 27 Sep 2019 - ) Azure Dragon Aviation Limited (Hong Kong, 9 Jul 2019 - ) Azure Aviation Ltd. (Bahamas) Sino Azure Aviation Consulting Company Limited (Hong Kong, 20 Jan 2014 - ) AZURE DRAGON AVIATION PTE. It was sold to Corinthia in 2015. 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. You can configure or reject the use of cookies or obtain more information in our Privacy Policy. 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. Well this is a bit difficult to deduce. The Azure Window, a limestone arch in Malta, was popular with locals and tourists. We bring together luxury hotels, resorts, supercars, motorhomes and unforgettable experiences . 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. Executive He said: I cant believe I fell for it. Inside Timeshare has received many enquiries as to what is going to happen to members of the "club"? You can revoke your consent any time on our Privacy Policy page. Here we go again. Support Times of Malta for the price of a coffee. That is to say, it was all planned to save as much cash as possible for the " Trotta " heirs. We will provide members with updates on our progress through the dedicated website https://cvr.global/azure/. Last December, it announced it would no longer sell timeshare and holiday clubs but focus on its existing members. Creditors have been notified that on May 11 a telephone conference would be. Around 80 people lost their jobs right before Christmas. 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 decision resulted in the loss of around 80 jobs. We recently published a revised version of our. 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. Reference to the restructuring process was made in a company announcement issued on May 5 by International Hotel Investments, which incorporates the Corinthia Group. KwikChex continues to urge caution regarding any approaches to timeshare owners by businesses offering compensation services and will be pleased to help owners evaluate any such approaches. So effectively, its business as usual, but not according to Themis Resolution. If you have any questions on this letter please contact the liquidators at the address provided in the letter. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2018 Resort Development Organisation, Company No. Azure Services Limited was an MFSA registered company owned by Corinthia and Mediterranean Overseas Holdings Limited. Alternatively, fill in your details and we will call back. Following a company announcement made by International Hotel Investments plc (IHI) on 11 December 2019 whereby it informed the market that the operations of the Azure Group were being scaled down given that its allocation of timeshare at the Golden Sands Resort had been largely sold out, the company issued another announcement on 5 May 2020 which Barclays is to fully compensate almost 1,500 customers who were improperly sold timeshare loans by Azure in Malta worth a total of 48m. He said he was assured he would be able to sell the one-bedroom apartment in 2015 when it would be worth 24,000 but has been unable to find a buyer. Naturally we at TCA will be following developments closely and will report our findings as and when developments take place. 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. Citrine, Capri, Burgundy, Blue Zircon, Erinite, Peridot, Jonquil, Indian red, light azure. Kind Regards offers FT membership to read for free. Telephoning from outside the UK: 00 44 1823 510625. 386] regulates the liquidation of a company registered in Malta. Sign in to get trip updates and message other travellers.. Malta ; Hotels ; Things to do ; Restaurants ; Flights ; Holiday Rentals I am responsible for the creation, maintenance, and distribution of all Executive Level monthly Management Accounts. 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. The first creditors meetings have taken place with regard to the various Azurecompanies. It pointed out that operations were being scaled down since December as its allocation of timeshare at the Golden Sands Resort had been largely sold out. Information coming direct to KwikChex and in the media in Malta appears to confirm that timeshare ownership at the Golden Sand Resort in Malta will not be affected by the insolvency proceedings taking place concerning Azure Services Malta, which operated as the sales & marketing company for timeshares at the resort. VCMS Malta is dedicated solely and exclusively to vacation club management services. 10am 4pm Mon-Fri (GMT) We use cookies to ensure that we give you the best experience on our website. Out of the blue Azure timeshare owners received emails from the Company's Joint Liquidators Mr Wesley Edwards of CVR Global (B.V.I.) timeshares to hundreds of British holidaymakers in 2019. Here Are The 20 Categories For Lovin Malta's Social Media Awards, Watch: 19-Year-Old Throws Trashcans, Own Boots At Parked Police Cars Outside St Julian's Station, People In Malta Are Split On Whether They Know The Warning Signs Of Suicide Or Not, From Malta To The Moon? Sometimes we include content from other sites on our site, for example, YouTube videos. There have also been claims that false representations were also made about the loans financial impact. A company that is not resident in Malta is taxable on chargeable income and capital gains arising in Malta (unless such income/gains are subject to a specific exemption). At this stage, it is not clear how this may affect a number of issues, from continuing timeshare ownership, to the ongoing matters concerning legal challenges made regarding loans made for the purchasing of timeshares through Azure during the period between 1 April 2014 and 24 April 2016. We make use of a tool from Google called Google Analytics, which tells us about the way people are using rdo.org. The statement may be viewed by following this link: https://www.corinthiagroup.com/wp-content/uploads/2020/05/Company-Announcement.pdf. It was sold to Corinthia in 2015. x-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. With regard to matters related specifically to Azure Services Ltd. such as the review ordered of loans for timeshares that took place between 1 April 2014 and 24 April 2016, this matter remains ongoing. August 11, 2022 09:19 Tista' taqra dan l-artiklu bil-Malti hawn The government has established advanced plans to dissolve Air Malta later this year and transfer its few remaining profitable assets to a new airline, similar to what has already been done in Italy with Alitalia. We will have more information in the coming weeks. The Joint Liquidators act as agents of the Companies and without personal liability.ANSWERS TO SOME COMMON QUESTIONS.Why did the Company go into liquidation?The Company was placed into liquidation by its shareholders in accordance with the British Virgin Islands Insolvency Act 2003 (the "Act"). The company ran into financial trouble towards the end of 2019. The club constitutions do not require the club manager to provide this service and you should therefore discuss this matter with the new club manager if appointed.IF YOU PURCHASED A TIMESHARE AT GOLDEN SANDS AND PAID FOR IT USING FINANCE OR A CREDIT CARD THEN YOU MAY QUALIFY FOR A CLAIM.THE MOST COMMON LENDERS AT AZURE WHERE BARCLAYS PARTNER FINANCE , HONEYCOMB FINANCE AND VACATION FINANCE LIMITED.MOST GOLDEN SANDS OWNERS ARE VICTIMS OF THE INVESTMENT AND RESALE DEAL . Customer Stories. Corinthia Group said action regarding the curtailment of employees would be made in line with all local regulations while emphasising that it remained fully committed to the future of the Golden Sands Resort as a high-end luxury destination. The shareholders advise that they took this decision because the Company's financial position was deteriorating, creating sufficient doubt as to whether it would be able to pay its debts as they fall due and liquidation was required to mitigate losses to the Company's creditors.What is liquidation?Liquidation is a formal insolvency process governed by the Act the purpose of which is to protect an insolvent company's creditors. Information coming direct to KwikChex and in the media in Malta appears to confirm that timeshare ownership at the Golden Sand Resort in Malta will not be affected by the insolvency proceedings taking place concerning Azure Services Malta, which operated as the sales & marketing company for timeshares at the resort. Established to ensure that Members at the Radisson Blu Resort & Spa Golden Sands, Malta continue to enjoy all the benefits and entitlements at their home resort in Malta and also beyond the shores of our Mediterranean island. They reaffirmed that the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. Meanwhile, there are serious questions surrounding the thousands of people from Malta, the UK, and Sweden who have long term contracts to stay at the hotel for one or two week periods every year. This is borne out by the fact that there is no reference to either the status of Ltd or SL on the website and furthermore there is no company registration number either. You may change or cancel your subscription or trial at any time online. This category only includes cookies that ensures basic functionalities and security features of the website. Crowdfunding Campaign To Fund Legal Challenge To DB Group Project Collects 18,000 In Just Over A Week, Get Nominating Now! Login below for access to exclusive content. Several owner / members at Azure Malta the timeshare clubs Island Residence Club, The Heavenly Collection and Azure Ultra, have been asking KwikChex for further clarification as the information first released regarding insolvency processes was difficult to understand. KwikChex has been informed that Azure Services Ltd. of Malta has entered into liquidation proceedings. This certainly does not leave people with much time to organise, could it be that the whole point is to rush the liquidation through? Somerset, A dedicated webpage has been set-up to keep owners and creditors informed https://cvr.global/azure/. Search. The remaining 50% is owned by international investors specializing in timeshare resort operations. Complex issues have arisen related to administration and insolvency of a small number of timeshare businesses. But opting out of some of these cookies may have an effect on your browsing experience. 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. The Azure Group carried out the sales function of the timeshare operation at the Golden Sands Resort for the past 17 years. We are not sure how this scam will pan out but there will certainly be a request for a financial payment to progress whatever they are promising. Martin Brylka KwikChex has been keeping Azure timeshare owners / club members up to date and we became aware that clarification regarding the Azure Ultra Club status did not seem to have been made available. I maintain all support systems and hierarchies that our reporting is based upon. Thank you for your enquiry. We use cookies on this site to enhance your user experience. For and on behalf of FNTC (UK) Ltd. Website Terms & Conditions You can revoke your consent any time using the Revoke consent button. Following a company announcement made by International Hotel Investments plc (IHI) on 11 December 2019 whereby it informed the market that the operations of the Azure Group were being scaled down given that its allocation of timeshare at the Golden Sands Resort had been largely sold out, the company issued another announcement on 5 May 2020 which stated that the scaling down process of the Azure Group has run its natural course and a liquidation process has commenced. Corinthia Group expressed its intention to conduct the liquidation process in an orderly manner and that timeshare owners would continue to enjoy the same service and benefits as they had in past years. Azure hoped the company would move. Google Chrome A liquidator is an officer of the court, his appointment is ratified by creditors. These cookies will be stored in your browser only with your consent. 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. But the Upper Tribunal of the Tax and Chancery Chamber heard that customers complained that the terms of the loans were not explained to them, that proper credit checks were not carried out and that they were pressured into signing deals. or We have seen many examples of attempts to defraud consumers in similar circumstances. Lawson is now listed as one of the directors along with Joseph Fenech, it is also interesting to see who the shareholders are, Corinthia (Malta) Staff Services Ltd and Mediterranean Overseas Holdings Ltd. Joseph Fenech is also a director of Corinthia. In recent months, the company had been going through a rough patch. The company noted that it has every intention to ensure that the upcoming liquidation is conducted in an orderly manner and that timeshare owners will continue to enjoy the same service and benefits as they have for the past years. who were victoria winters parents. 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. Video taken by bystanders . Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. 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. Creditors have been notified that on May 11 a telephone conference would be held to appoint Richard Galea Debono as liquidator. These cookies do not store any personal information. 07376192, Data Protection Policy KwikChex has been in contact with a number of parties, including trustees and will continue to provide information to the best of our ability. 01908 881058 info@timeshareconsumerassociation.org.uk Donate, timeshare consumer association friendly timeshare advice since 1997. KwikChex has been in contact with the liquidators, who continue to reassure that the benefits of timeshare ownership will remain. What should a secular society really look like? KwikChex will continue to provide updates. 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. The full statement can be read HERE. by TVM Newsroom August 20, 2022. I cant see this company registered at companies house and their website looks amateurish. 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. Maintence Fee Calculator | Privacy Policy | Terms & Conditions | Cookies Policy. kenyon murray daughter Menu Toggle. According to the Financial Conduct Authority of the UK, buyers claimed that the footballers links with the hotel were highlighted by sales staff who brokered 1,444 loans with Barclays bank - the Times of London reported. 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. When I gothomeI thought, what the hell am I doing?Rebbeckwas left to care for his two children after his wife died in 2016. Please find attached a letter we have been asked to forward to you by the joint liquidators. https://insidetimeshare.com/?s=exclusive+breaking+news. Azure Services Ltd Malta Liquidation. The spectacular Azure Window rock arch on Malta's island of Gozo collapsed into the sea in 2017. VCSL in turn has established a company in Malta called VCMS Co Limited, which will employ local staff to service the clubs members. For the sake of clarity, please see a copy of the response we received which also includes a link to a dedicated information website. 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. Azure Golden Sands is a 5-star Mediterranean resort in Malta. We recognise that we did not provide the right level of service for some customers who bought timeshare loans, Barclays said. 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. Please know what you are buying these are not beads, These are crystal stones set into a brass setting. Premium access for businesses and educational institutions. However, it later discovered the staff were employed by the unlicensed Azure Services Limited. Judge Timothy Herrington said the FCA acted unlawfully in giving a validation order - that meant Barclays could enforce the loans because the regulator had not considered the evidence of potential consumer detriment, albeit unsubstantiated at this stage. Meanwhile, creditors of Azure Services Ltd were notified about the agenda of next weeks meeting in a letter signed by directors Joseph Fenech and Alexander William Lawson. It uses cookies to detect how long people stay on the site, which pages they visit, their country of origin and whether they are a new or returning visitor. In the meantime, we strongly recommend that those likely to be affected creditors and timeshare owners, register their interest as per the notice by sending an email to the following address rrohan@alvarezandmarsal.comAs there is an initial creditors meeting (by telephone conference call) at 17.00 hrs Central European Time on Monday 11 May, you may wish to do this as a matter of urgency. 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. All of these matters are likely to be complex and take some time and KwikChex will do all possible to provide updates. This means that every time you visit this website you will need to enable or disable cookies again. We use our own and third-party cookies for analytical purposes and to show you personalized advertising based on a profile prepared from your browsing habits (for example, pages visited). We will be contacting those impacted to apologise for what has happened, and to let them know how we will be putting this right.. The company hit the news after it faced allegations of misselling timeshares to hundreds of British holidaymakers in 2019. is badger collectibles legit; sony cd player keeps ejecting disc; visa gift card check balance Menu Toggle. In November 2020 the bank was told by the Financial Conduct Authority to repay interest charged on loans issued between April 2014 and April 2016 by the timeshare operator Azure Services (now in liquidation). In a statement published on 5th May 2020, IHI, the holding company for the Corinthia Hotels Group, who own 50% of the Golden Sands Resort and the Azure Group, stated that the shareholders remain committed to the future of the Golden Sands Resort as a high-end luxury destination. 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It was set up by the Island Hotels Group in 2003. Boss the game, deliver masterful ball control, and be the apex Predator in your game. Timeshare Consumer Association Limited is registered as a data controller with the information commissioners office (ico) under registration number: ZA765267. KwikChex will provide free information assistance to any consumers affected by such matters. By using this site, you agree to our Privacy Policy including the use of cookies to enhance your experience. Limited and Mr Barry Lynch of Alvarez & Marsal Cayman Islands Limited, were appointed Joint Liquidators of Azure Resorts Limited and Azure XP Limited. Necessary cookies are absolutely essential for the website to function properly. We again advise members / owners to be extremely cautious if approached regarding claims said to be connected to the liquidation process. As reported on our website a new club manager has been appointed https://rdo.org/industry-updates/new-club-manager-appointed-for-azure-resorts/ and you can contact the contact the club via Telephone number: 00 356 2356 1000, or E-mail address: reservations@vcmsmalta.com. Timeshare Watchdog were informed that Azure Services Ltd. of Malta entered into liquidation proceedings. Nov 2021 - Present1 year 5 months. You can find out more about which cookies we are using or switch them off in settings. All rights reserved. The target date for the completion of Air Malta's restructuring plan has been extended to the end of the month as the "sensitivity" of the task made it more difficult to meet the early January deadline, Timesofmalta.com reported. If you want to know more about what cookies are and how to control them, aboutcookies.org is a great resource. Under the Act, a company may be dissolved either on a . Gain a global perspective on the US and go beyond with curated news and analysis from 600 Should you have any questions regarding Azure or any other timeshare, please feel free to contact us and we shall do our best to address your concerns. These cookies will be stored in your browser only with your consent. Check if they have a website, and more importantly check when the domain was registered, below we list the sites which may assist: UK Company check:https://find-and-update.company-information.service.gov.uk/search/companies?q, Spanish Company check:http://www.infocif.es/, Domain check:https://whois.domaintools.com/. Keeping this cookie enabled helps us to improve our website. For all the latest news and views from RDO. Azure Services Ltd. Malta Liquidation 07/05/20. We would also urge Azure timeshare owners to be very cautious regarding any approaches made regarding compensation claims. A study in 2013 said that while erosion was . This category only includes cookies that ensures basic functionalities and security features of the website. If you are an Azure Ultra Club Member and have not received this advice, or have concerns about the content of the advice, please contact us and we will provide free assistance. This is a story that Inside Timeshare has been following for quite some time and it is one that shows how financial institutions are actively involved in the selling of timeshare to the . Photo: GettySub. journalists in 50+ countries covering politics, business, innovation, trends and more. MediaToday is an independent media house based in Malta. 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. A timeshare company at the Radisson Blu Golden Sands Resort and Spa has been placed in voluntary liquidation but the shareholders are pledging to honour all commitments with the thousands of its members. Hilton Grand Vacations (Formerly Diamond Resorts) European Resorts Have Been Recognized with a SILVER Award by World Tourism Responsible Awards During the 2022 WTM London Event. Timeshare Consumer Association Limited is registered as a data controller with the information commissioners office (ico) under registration number: ZA765267. 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. The key difference is that before you actually place your order you need to confirm that your customer has signed the Microsoft Customer Agreement.