LTD. (Singapore, 8 Feb 2019 - ) Around 80 people lost their jobs right before Christmas. 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 . Alternatively, fill in your details and we will call back. Kind regards, Here we go again. Necessary cookies are absolutely essential for the website to function properly. Mediterranean Overseas Holdings Ltd is also another company owned by the late Bob Trotta under the parent company the Limora Group. KwikChex has been informed that Azure Services Ltd. of Malta has entered into liquidation proceedings. The full statement can be read HERE. Inside Timeshare has received many enquiries as to what is going to happen to members of the "club"? 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. 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. Meet our staff and find out what it's like to work for Azure. 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. Somerset, https://insidetimeshare.com/?s=exclusive+breaking+news. The liquidator will also be tasked in paying any wages due to employees. 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. It was sold to Corinthia in 2015. We recommend using You can find out more about which cookies we are using or switch them off in settings. Around 80 people lost their jobs right before Christmas. the amount of debt the airline has with local banks as well as foreign banks and when liquidation takes place what is to happen to the remaining employees who chose to remain and did not take the scheme. Azure Services Ltd was set up in 2003 when the resort, which belonged to Island Hotels Group, had opened its doors. Cookies are small files that are sent back and forth with web pages, which can be used to identify that you have previously visited a site or to store small bits of information locally with you. 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. VCSL in turn has established a company in Malta called VCMS Co Limited, which will employ local staff to service the clubs members. But opting out of some of these cookies may have an effect on your browsing experience. We also use third-party cookies that help us analyze and understand how you use this website. These were formalities as such to enable the continuation of the liquidation process. I know there is no such thing as a freelunchbut it was such a good offer. We would also urge Azure timeshare owners to be very cautious regarding any approaches made regarding compensation claims. I am responsible for the creation, maintenance, and distribution of all Executive Level monthly Management Accounts. Some consumers have also been seeking clarification regarding the earlier court order concerning loans made to purchase timeshare between 1 April 2014 and 24 April 2016. 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. 10am 4pm Mon-Fri (GMT) by TVM Newsroom August 20, 2022. Sometimes we include content from other sites on our site, for example, YouTube videos. Registered Office: Artemis House, 4a Bramley Road, Mount Farm, Milton Keynes, MK1 1PT. Please ensure you have filled out all required fields, Timeshare Termination Team | Timeshare | Timeshare Exit | Timeshare Claims. 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. Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. 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? RDO members can log in to rdo.org, and when they do we use cookies to track that they have logged in. 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. Azure has categorically denedhaving conducted inappropriate selling. The Azure Window has collapsed and it is not just the top part which has fallen off - even the stacks have gone. 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. What should a secular society really look like? You can prevent the setting of cookies by adjusting the settings on your browser (see your browser Help for how to do this). Azure Services Limited is an MFSA registered company currently owned by Corinthia and Mediterranean Overseas Holdings Limited. The company ran into financial trouble towards the end of 2019. 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. 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. A vote on the potential nominee for the office of the liquidator will also be taken. All of these matters are likely to be complex and take some time and KwikChex will do all possible to provide updates. The company ran into financial trouble towards the end of 2019. Malta (356) 2247 6100 info@premium.com.mt. According to its website, Azure Services Ltd, which employed 180 staff, had more than 5,500 members. This is one of the points on the agenda for the meeting via telephone conference call on 11 May 2020 which creditors will be voting on. 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 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. who were victoria winters parents. Facebook; This means that every time you visit this website you will need to enable or disable cookies again. Sources have claimed that the company also applied for and received the COVID-19 supplement for the April salary. These cookies do not store any personal information. 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. Barclays is to fully compensate almost 1,500 customers who were improperly sold timeshare loans by Azure in Malta worth a total of 48m. Anglian Water Services. You can still enjoy your subscription until the end of your current billing period. 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. From the copy email that we received, Themis are obviously mounting a cold calling campaign from stolen Azure client data. 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Well this is a bit difficult to deduce. Do your own due diligence, check the registration of the company, if there is no registration then it is not a legitimate company. Dwejra and The Azure Window, Gozo's pride Concentration of natural monuments. 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). Barclays had a contract with Azure Resorts Limited, which was authorised by the UK Financial Conduct Authority for credit brokering. Declaration of Solvency. Matthew Vella is executive editor at MaltaToday. Azure Golden Sands is a 5-star Mediterranean resort in Malta. I maintain all support systems and hierarchies that our reporting is based upon. Copyright MediaToday Co. 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Customise . The first creditors meetings have taken place with regard to the various Azurecompanies. Facebook Twitter YouTube Pinterest. You can revoke your consent any time using the Revoke consent button. Future of Air Malta. VCMS Malta is dedicated solely and exclusively to vacation club management services. 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. Privacy Policy There are no loans outstanding and even if there was it would be highly unlikely that First National Trustee Company (FNTC) would once again put the club in jeopardy. As previously advised, the Azure companies and the Club are separate entities. Please enable Strictly Necessary Cookies first so that we can save your preferences! Please find attached a letter we have been asked to forward to you by the joint liquidators. 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. August 20, 2022. . 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. Azure said it was offering its full support to Barclays in its application for a validation order. However, it later discovered the staff were employed by the unlicensed Azure Services Limited. Prime Minister Joseph Muscat said the news was "heartbreaking". I knew I would have to attend a salesmeetingbut I had absolutely no plans to buy a timeshare.. So effectively, its business as usual, but not according to Themis Resolution. personalising content and ads, providing social media features and to We use cookies on this site to enhance your user experience. This Declaration of Solvency is a very important statement in which the majority of the Directors declare that they have made a full . Here is a reproduction of an email received from one concerned Azure owner: Had a call from these, and others have also. The government had set itself the ambitious target of having the plan in place by early January for submission . Standard Digital includes access to a wealth of global news, analysis and expert opinion. Search. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Check if your Azure Services Ltd. Malta Liquidation 07/05/20. Alex Lawson from Alvarez and Marsal (Cayman Islands) has appointed himself as an administrator/director to oversee the . Be aware that disabling cookies will affect the functionality of this and many other websites that you visit. Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. Now a Russian architect wants to build a mirrored steel archway in its place. Click here to browse all stories. It was sold to Corinthia in 2015. He said they are having hundreds of calls about it. 01908 881058 info@timeshareconsumerassociation.org.uk Donate, timeshare consumer association friendly timeshare advice since 1997. 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 is mandatory to procure user consent prior to running these cookies on your website. Timeshare Termination Team is a trading style of Exit My Timeshare Group. Complaints Policy 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. Two geological wonders sit side-by-side on the Maltese island of Gozo: the Azure Window and the Blue Hole. It said it was facing a number of litigation claims from clients who allege misrepresentation. "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. In recent months, the company had been going through a rough patch. Hours. 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"). Telephoning from outside the UK: 00 44 1823 510625. This category only includes cookies that ensures basic functionalities and security features of the website. The remaining 50% is owned by international investors specializing in timeshare resort operations. 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. 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. 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. Under the Act, a company may be dissolved either on a . Excluding bank holidays, Visit KwikChex Website 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. KwikChex will be pleased to respond to any owners making checks in this regard. 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. On the contact page there is the usual form to fill in and submit. A Financial Times report has revealed that Barclays has been ordered to repay the interests charges on loans issued between April 2014 and April 2016 by Azure Services, which filed for liquidation in May 2020. Upon a search of UK Companies House and the Spanish equivalent we can find no sign of the existence of this company. pillow pellow milk melk; 7th birthday party ideas for girl at home Re: Golden Sands, Mellieha. As usual we advise that if you didnt instigate the contact from them, then it should put you on alert. As mentioned in the FAQs, we are working diligently to transfer the role of club manager so that the club can continue and members remain able to utilise their timeshare holiday entitlement. I cant see this company registered at companies house and their website looks amateurish. download the update directly (PDF download). It collapsed on Wednesday morning after being battered by a storm. We have seen many examples of attempts to defraud consumers in similar circumstances. Modern Slavery Statement, Registered with Data Protection Act, Registration Number: Z2749323. 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. or 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. 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. It collapsed into the sea on March 8th. If you want to know more about what cookies are and how to control them, aboutcookies.org is a great resource. Latest TimeshareTaskForce Customer Testimonial, Request for Erasure/Remove Consent/Subject Access Request/Update Data. Barclays, who decided to repay the interest rather than face a tribunal, will now refund about 30 million to the customers and classify the remaining funds as a bad debt. 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. Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. 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. Original . and other data for a number of reasons, such as keeping FT Sites reliable and secure, kenyon murray daughter Menu Toggle. It was sold to Corinthia in 2015. x-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. On 28 April 2020, Mr Wesley Edwards of CVR Global (B.V.I.) 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,. Reference to the restructuring process was made in a company announcement issued on May 5 by International Hotel Investments, which incorporates the Corinthia Group. 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. You also have the option to opt-out of these cookies. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2018 Resort Development Organisation, Company No. Support Times of Malta for the price of a coffee. 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. https://find-and-update.company-information.service.gov.uk/search/companies?q, Azure and Barclays Partners Finance case reported in the Financial Times, Scammers Forced to Pay 15,000 in Court Costs, Double and Triple Check! 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. If you are an owner that is currently involved in a claim alleging misselling of any type or have been approached in this regard with a view to making a claim, this is a separate but potentially connected matter likely to fall into a number of different categories, including matters associated with loans being reviewed by the UK Financial Conduct Authority (FCA) and claims that may have been or may in future be submitted to the UK Financial Ombudsman Service (FOS).
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