Barclays is to fully compensate almost 1,500 customers who were improperly sold timeshare loans by Azure in Malta worth a total of 48m. The Azure Window, a limestone arch in Malta, was popular with locals and tourists. Call us on 01872 308699 for more information. Lovin Malta has reached out to Azure Services Limited for a comment. 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. The full statement can be read HERE. Please ensure you have filled out all required fields, Timeshare Termination Team | Timeshare | Timeshare Exit | Timeshare Claims. But opting out of some of these cookies may have an effect on your browsing experience. Creditors have been notified that on May 11 a telephone conference would be. Insiide Timeshare has received news that Azure Services Ltd, the sales and marketing arm for Radisson Blu and Golden Sands resorts in Malta have filed for liquidation. Premium access for businesses and educational institutions. 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. Azure, liquidation Company Updates, News 0 Updates 07/05/20, 08/05/20, 13/05/20, 19/05/20, 20/05/20, 09/07/20, 07/08/20 & 07/09/20 Azure Services Ltd. Malta Liquidation 07/05/20 KwikChex has been informed that Azure Services Ltd. of Malta has entered into liquidation proceedings. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. If they know more about you than they should, thats also not a good sign. Company No. These cookies do not store any personal information. This is an ongoing review process by the UK Financial Conduct Authority (FCA) and will continue. VCMS Malta is dedicated solely and exclusively to vacation club management services. By browsing this site you are giving your consent for us to set cookies. 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). As we have published over the past weeks, Azure Services Ltd and Azure Resorts Limited are in the process of liquidation as are many of the other companies within the Limora Group such as Silverpoint. Nevertheless, the position that we are adopting on behalf of our clients is that our clients are . https://insidetimeshare.com/?s=exclusive+breaking+news. Matthew Vella is executive editor at MaltaToday. Upon a search of UK Companies House and the Spanish equivalent we can find no sign of the existence of this company. 07376192, Data Protection Policy A voluntary winding up typically takes between 12 and 16 months from the date of the decision to wind up the company. In the case of a Members' Voluntary Winding Up, a Declaration of Solvency (Form B2), which must be signed by the majority of the Directors, must be filed at the Malta Business Registry. Mediterranean Overseas Holdings Ltd is also another company owned by the late Bob Trotta under the parent company the Limora Group. 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. I knew I would have to attend a salesmeetingbut I had absolutely no plans to buy a timeshare.. 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 Facebook Twitter YouTube Pinterest. The incident was a result of years of erosion, according to experts. 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,. It first hit the news in 2019 for misselling timeshares to hundreds of British holidaymakers in 2019. Well this is a bit difficult to deduce. 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. 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. 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. Crowdfunding Campaign To Fund Legal Challenge To DB Group Project Collects 18,000 In Just Over A Week, Get Nominating Now! But is it bad? Timeshare Termination Team is a trading style of Exit My Timeshare Group. Video taken by bystanders . Last December, it announced it would no longer sell timeshare and holiday clubs but focus on its existing members. 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. Limited and Mr Barry Lynch of Alvarez & Marsal Cayman Islands Limited, were appointed Joint Liquidators of Azure Resorts Limited ("ARL") and Azure XP Limited ("AXP")(together "the Companies").The appointments were made, in accordance with the Virgin Islands Insolvency Act 2003, by a qualifying resolution, passed by the members of the Companies.These Companies are now under the control of the Joint Liquidators. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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. 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 . 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. The telephone number:01935 548 026, the STD code is for Yeovil in Somerset; although we very much doubt that any such company exists in Yeovil. Most of its clients, who hailed from Malta, the UK and Sweden, had entered into contracts of up to 25 years, under which they had the right to holiday at the hotel for one or two weeks at a specific time of the year. You can prevent the setting of cookies by adjusting the settings on your browser (see your browser Help for how to do this). 12-14 The Crescent, I am responsible for the creation, maintenance, and distribution of all Executive Level monthly Management Accounts. Naturally we at TCA will be following developments closely and will report our findings as and when developments take place. Under Azure plan, select Add to cart. The UKs financial conduct watchdog is investigating 54 million in loans made to Golden Sands timeshare buyers. Please enable Strictly Necessary Cookies first so that we can save your preferences! The window is a towering rock formation reaching 328 feet (100 meters) high with a . We have seen many examples of attempts to defraud consumers in similar circumstances. All content on this website is dependent on the opinion of the author. 01908 881058 [email protected] Donate, timeshare consumer association friendly timeshare advice since 1997. 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. There Are Now Zero COVID-19 Patients In Maltas ITU, Get Nominating Now! When we do this, YouTube may store cookies in order to track how people are watching videos on their site. 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. If you have any questions on this letter please contact the liquidators at the address provided in the letter. Please know what you are buying these are not beads, These are crystal stones set into a brass setting. We recognise that we did not provide the right level of service for some customers who bought timeshare loans, Barclays said. Kindly check your inbox after sign-up to confirm subscription. Beware of Scammers, Pro Timeshare Resales exposed by Action 9. We would also urge Azure timeshare owners to be very cautious regarding any approaches made regarding compensation claims. The first creditors meetings have taken place with regard to the various Azurecompanies. 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 [email protected] 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. A public notice revealed that Azures creditors have been invited to a meeting on 11th May which will detail the winding down of the company. Hours. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. A liquidator is an officer of the court, his appointment is ratified by creditors. Databases. Liquidation lot - 750,000 plus preset crystals 2.5mm CrystalQueenDesigns Following Follow. Please find attached a letter we have been asked to forward to you by the joint liquidators. The official Island Hotels document explaining the footballers investments said: The high profile of each of the investors in the sporting field is calculated to enhance the groups overall public relations and image and profile., One of the timeshare buyers,CharlesRebbeck, 41, from East Sussex, told the Times of London that he received a cold call in the UK offering him a weeks holiday at the Golden Sands resort with his family for 150. Kind Regards A vote on the potential nominee for the office of the liquidator will also be taken. You can revoke your consent any time on our Privacy Policy page. Darrin Zammit Lupi/Reuters By Tamara Best. 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. Customer Stories. 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. Sources have claimed that the company also applied for and received the COVID-19 supplement for the April salary. These cookies will be stored in your browser only with your consent. 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. These have in the main affected only sales and marketing operations, but not the operations of the resorts themselves and owners will still (subject to Covid-19 restrictions) be able to enjoy the use of their timeshares. Barclays Bank has been forced to compensate 1,500 customers who were missold timeshare loans worth up to 48 million by Maltas Azure Services, a Corinthia-owned tourism and timeshare company at the Radisson Blu Golden Sands. 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. 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. If you are approached we would advise that you get as much information as possible and contact the Timeshare Helplineand advice.This free service is funded byEUROCand is operated by Kwikchex, who areapproved by the UK Trading Standards: We booked a holiday for March 2020 with azure at the radison blu but could not travel due to COVID As the company is in liquidation we want to know how to claim for a refund. H eavy storms in the Mediterranean were the eventual undoing of Malta . 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). Simply log into Settings & Account and select "Cancel" on the right-hand side. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. The Azure Window, a natural arch off the coast of Gozo in Malta, collapsed into the sea on March 8. The spectacular Azure Window rock arch on Malta's island of Gozo collapsed into the sea in 2017. The tourism and timeshare company centred on the Radisson Blu Golden Sands filed for liquidation in May 2020. That is to say, it was all planned to save as much cash as possible for the " Trotta " heirs. The landmark Azure Window, off the Maltese island of Gozo, has collapsed into the sea during a storm. 11.00-27.00; 27.00-35.00; 35.00-43.00; 43.00-51.00; 51.00-59.00; 59.00-60.00; STOCK. We recommend using Taunton, 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. Products Databases. The Financial Times said that the customers were charged in excess of 9%. If you want to know more about what cookies are and how to control them, aboutcookies.org is a great resource. In 2017 Malta switched its primary source of energy from heavy fuel oil to natural gas. With regard to consumers that may have already been seeking to relinquish their timeshares or are actually involved in claims processes, these will need further assessment and KwikChex will be pleased to assist upon request. We will provide members with updates on our progress through the dedicated website https://cvr.global/azure/. 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?. We also use third-party cookies that help us analyze and understand how you use this website. The FOS has also been informed the Administrator and the Mercantile Court are also investigating the point as the evidence suggests, the "liquidation" has been "manufactured". We have specifically asked if owners have to contact the liquidators to ensure their rights are secured and / or complete the claim forms for creditors and have been advised that they do not have to do this. You have been warned. We also use social media buttons and/or plugins on this site that allow you to connect with your social media network(s) in various ways. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. who were victoria winters parents. Updates 07/05/20, 08/05/20, 13/05/20, 19/05/20, 20/05/20, 09/07/20, 07/08/20 & 07/09/20, Azure Services Ltd. Malta Liquidation 07/05/20. We use cookies to track the number of opens and clicks on both newsletters RDO Weekly News and RDO Insider. All of these matters are likely to be complex and take some time and KwikChex will do all possible to provide updates. The Companies Act [CAP. 2020 KwikChex Ltd. 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. 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. This. Timeshare Group in Liquidation Hits the News Again. Azure Services Ltd was set up in 2003 when the resort, which belonged to Island Hotels Group, had opened its doors. Then in February of this year, we reported on the new product being launched, Azure X and Azure XP which replaced the discredited investment weeks previously sold. Please find attached a communication regarding the appointment of a new Club Manager for Golden Sands Island Residence Club, The Heavenly Collection, Azure Experiences Membership Club (Azure X). 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. The key difference is that before you actually place your order you need to confirm that your customer has signed the Microsoft Customer Agreement. 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. Google Chrome KwikChex will be pleased to respond to any owners making checks in this regard. away from the sale of timeshare products and services and focus more on traditional high-end tourism at the resort. 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. We again advise members / owners to be extremely cautious if approached regarding claims said to be connected to the liquidation process. 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. 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. Independent journalism costs money. Maltese Colleges Collaborate In Space Mission, Not Just For Thrift Lovers: Flea Market At Manikata's The Farmoury Happening This Weekend, Roberta Metsola Returns To Ukraine To Be With 'Brave People Who Inspired The World', Denied Maltese Citizenship By Naturalisation With No Reason Given, Polish Couple Wants Some Kind Of Explanation. The company, Azure Services Limited, markets timeshare at the resorts formerly owned by Island Hotels and Winston Zahra, of which Manchester United footballers Gary Neville becameanon-executivedirectorsin2009 after a 1.1 million investment. Support rapid growth and innovate faster with secure, enterprise-grade, and fully managed database services . Given the current outlook, this scaling down process has run its natural course, and a liquidation process has in fact now commenced, the announcement read. Necessary cookies are absolutely essential for the website to function properly. 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? You can find out more about which cookies we are using or switch them off in settings. by Matthew Vella. analyse how our Sites are used. So far we have a nonexistent company that was formed less than two months ago, this is not looking good. Necessary cookies are absolutely essential for the website to function properly. We use cookies to ensure that we give you the best experience on our website. In December, a large chunk of the workforce was told that they would be made redundant to make way for an elite team as part of a new strategy. Do your own due diligence, check the registration of the company, if there is no registration then it is not a legitimate company. 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. Free shipping for many products! Add to cart . 10am 4pm Mon-Fri (GMT) August 20, 2022. . Click here to view a copy of the PDF of decision made in August 2018 by Judge Timothy Herrington. Gain a global perspective on the US and go beyond with curated news and analysis from 600 cvr.global. Meanwhile, any action taken with respect to the curtailment of employees will be made in line with all local regulations. Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. organisation or Original . Maltese Colleges Collaborate In Space Mission, Not Just For Thrift Lovers: Flea Market At Manikata's The Farmoury Happening This Weekend, Roberta Metsola Returns To Ukraine To Be With 'Brave People Who Inspired The World', Denied Maltese Citizenship By Naturalisation With No Reason Given, Polish Couple Wants Some Kind Of Explanation. The customer story you selected is no longer available. Somerset, Telephoning from outside the UK: 00 44 1823 510625. It is mandatory to procure user consent prior to running these cookies on your website. By using this site, you agree to our Privacy Policy including the use of cookies to enhance your experience. LTD. (Singapore, 8 Feb 2019 - ) 01908 881058 [email protected] Donate, timeshare consumer association friendly timeshare advice since 1997. Azure Kubernetes Service Edge Essentials is an on-premises Kubernetes implementation of Azure Kubernetes Service (AKS) that automates running containerized applications at scale. For a full comparison of Standard and Premium Digital, click here. The company hit the news after it faced allegations of misselling timeshares to hundreds of British holidaymakers in 2019. 386] regulates the liquidation of a company registered in Malta. However, it later discovered the staff were employed by the unlicensed Azure Services Limited. Nov 2021 - Present1 year 5 months. Thank you for your enquiry. The government had set itself the ambitious target of having the plan in place by early January for submission . 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 . The decision resulted in the loss of around 80 jobs. But opting out of some of these cookies may have an effect on your browsing experience. 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 . 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. All Rights Reserved. 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? 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. So who are Themis? If you disable this cookie, we will not be able to save your preferences. The bank said it did not believe there were issues with affordability checks on the Azure loans and considered it "reasonable" that customers should repay them. The shareholders have also reaffirmed that the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members, the group pledged. This boot hits your feet like those well worn boots you default to. Mozilla Firefox. 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. The UK financial conduct authority is investigating 54 million of loans made to timeshare buyers at the Golden Sands resort, a Radisson Blu franchise now owned by InternationalHotels Investments. I maintain all support systems and hierarchies that our reporting is based upon. Turning to the website, it was only registered on16th September 2020and is set to expire on16th September 2021. 3D-printed Demonscale elements spread farther across the surface let you control the ball with every part of your foot. 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/. Excluding bank holidays, Visit KwikChex Website 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. A liquidator was chosen in May 2020. 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. Malta, but not capital gains arising outside Malta, received in Malta. We recently published a revised version of our. Around 80 people lost their jobs right before Christmas. The club constitutions do not require the club manager to perform this role and you should therefore discuss this matter with the new club manager if appointed.If my week was available for rental, what happens now?The rental program was operated by the Company in its role as club manager to assist members in renting entitlements they did not wish to utilise in any given year.