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Under Azure plan, select Add to cart. Sometimes we include content from other sites on our site, for example, YouTube videos. Kindly check your inbox after sign-up to confirm subscription. Taunton, Facebook Twitter YouTube Pinterest. 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. It was set up by the Island Hotels Group in 2003, which marketed timeshares at the Radisson Blu Golden Sands. Caroline Hodgson/AP An iconic Maltese natural rock arch collapsed into the sea Wednesday. The company, Azure Services Limited, markets timeshare at the resorts formerly owned by Island Hotels and Winston Zahra, of . You can still enjoy your subscription until the end of your current billing period. Mozilla Firefox. Please enable Strictly Necessary Cookies first so that we can save your preferences! On 28 April 2020, Mr Wesley Edwards of CVR Global (B.V.I.) 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. The company hit the news after it faced allegations of misselling timeshares to hundreds of British holidaymakers in 2019. That is to say, it was all planned to save as much cash as possible for the " Trotta " heirs. The Joint Liquidators are currently in discussions with third parties to appoint a new manager to the Clubs, and once this is completed owners will be able to use their timeshare entitlement in accordance with the relevant Club constitutions, rules and regulations. 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. Simply log into Settings & Account and select "Cancel" on the right-hand side. In 2015, Corinthia Group assumed 50 per cent share of the company as part of their takeover of the Island Hotels Group. 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. These were formalities as such to enable the continuation of the liquidation process. The company ran into financial trouble towards the end of 2019. The company ran into financial trouble towards the end of 2019. 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 International Hotels Investments. We'll assume you're ok with this, but you can opt-out if you wish. cvr.global. 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. We will be contacting those impacted to apologise for what has happened, and to let them know how we will be putting this right.. Response to our request for clarification below: At the current stage, the members do not have to contact the liquidators or complete the claim form. 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. You have been warned. 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. Mediterranean Overseas Holdings Ltd is also another company owned by the late Bob Trotta under the parent company the Limora Group. Limited and Mr Barry Lynch of Alvarez & Marsal Cayman Islands Limited. In fact, the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. Meanwhile, any action taken with respect to the curtailment of employees will be made in line with all local regulations. The full statement can be read HERE. From the copy email that we received, Themis are obviously mounting a cold calling campaign from stolen Azure client data. Login below for access to exclusive content. Lovin Malta has reached out to Azure Services Limited for a comment. Executive Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. For cost savings, you can change your plan at any time online in the Settings & Account section. 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. A dedicated webpage has been set-up to keep owners and creditors informed https://cvr.global/azure/. 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. 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. 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. This website uses cookies to improve your experience. The landmark Azure Window, off the Maltese island of Gozo, has collapsed into the sea during a storm. Timeshare Group in Liquidation Hits the News Again. 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. The other half is owned by a group of international investors specialising in timeshare resort operations. Tue 09:00 - 17:00. Sources have claimed that the company also applied for and received the COVID-19 supplement for the April salary. Free shipping for many products! KwikChexis a Registered Trademark, KwikChex Ltd, Rizzo, Farrugia & Co. (Stockbrokers) Ltd. 2023. 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. RDO members can log in to rdo.org, and when they do we use cookies to track that they have logged in. Premium access for businesses and educational institutions. 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". 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. The statement may be viewed by following this link: https://www.corinthiagroup.com/wp-content/uploads/2020/05/Company-Announcement.pdf. Barclays told the tribunal that in 2017 it received only 63 mis-selling complaints of timeshare loans, two of which it upheld. Registered Office: Artemis House, 4a Bramley Road, Mount Farm, Milton Keynes, MK1 1PT. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. The liquidator has a fiduciary duty to act in the best interests of creditors and has a duty to investigate the causes of the liquidation.The liquidator is tasked with gathering in the assets of an insolvent company, realising them and making distributions, net of costs, to creditors.My timeshare is in Malta, why is this liquidation in the British Virgin Islands?Whilst your timeshare entitlement is at the Golden Sands Resort in Malta, the Company is domiciled in the British Virgin Islands and the liquidation must therefore be conducted under the laws of the British Virgin Islands, including the Act.If I purchased my week using a loan, do I still need to pay this loan?The JLs advise that, whilst the clubs remain active and can service its members, your obligations will remain consistent with what they were prior to the liquidation. 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. 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 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. 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. 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. Video taken by bystanders . Azure Kubernetes Service Edge Essentials is an on-premises Kubernetes implementation of Azure Kubernetes Service (AKS) that automates running containerized applications at scale. 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. Exchange House, 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. 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. 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. We use cookies on this site to enhance your user experience. This change was brought about by the recent construction of a 215 megawatt combined-cycle gas turbine (CCGT . 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. Dwejra and The Azure Window, Gozo's pride Concentration of natural monuments. 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. When we do this, YouTube may store cookies in order to track how people are watching videos on their site. We use cookies to ensure that we give you the best experience on our website. Thu, May 12 - Thu, May 26 Wolverine Import . Keeping this cookie enabled helps us to improve our website. 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. VCMS Malta is dedicated solely and exclusively to vacation club management services. What is the typical timeframe for completion of liquidation procedures? The fact is that at present, both the status of the timeshare ownerships and the question of the challenged loans are going through legal processes and the outcomes are currently unknown. by Matthew Vella. So who are Themis? But Malta's Azure Window, known as Tieqa tad-Dwejra in Maltese, graced glossy marketing brochures since tourism began here and in many ways, the 50-meter-tall arch came to represent Malta itself. Huntingdon, England, United Kingdom. Cookie Policy https://insidetimeshare.com/timeshare-sales-end-at-golden-sands-malta/, https://insidetimeshare.com/azure-x-xp-what-is-it/. Creditors have been notified that on May 11 a telephone conference would be held to appoint Richard Galea Debono as liquidator. It was set up by the Island Hotels Group in 2003, which marketed timeshares at the Radisson Blu Golden Sands. 2,275 sales | 4.5 out of 5 stars. The decision resulted in the loss of around 80 jobs. I also produce all senior ad-hoc reports. It is mandatory to procure user consent prior to running these cookies on your website. 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. By Cameron Macphail 8 March 2017 4:15pm. Kindly check your inbox after sign-up to confirm subscription. Azure hoped the company would move. Around 80 people lost their jobs right before Christmas. 01908 881058 info@timeshareconsumerassociation.org.uk Donate, timeshare consumer association friendly timeshare advice since 1997. 2020 KwikChex Ltd. Inside Timeshare has received many enquiries as to what is going to happen to members of the "club"? After sitting through a five-hour sales pitch that featured photographs of Neville andGiggs, he agreed to pay 13,300 for a one-week timeshare with a 25-year contract. Alternatively, fill in your details and we will call back. It collapsed into the sea on March 8th. It first hit the news in 2019 for misselling timeshares to hundreds of British holidaymakers in 2019. 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. 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. 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. KwikChex has been in contact with the liquidators, who continue to reassure that the benefits of timeshare ownership will remain. In 2017 Malta switched its primary source of energy from heavy fuel oil to natural gas. or We make use of a tool from Google called Google Analytics, which tells us about the way people are using rdo.org. 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,. On 7th May 2020 it was announced that Azure Resorts Limited had entered liquidation. There have also been claims that false representations were also made about the loans financial impact. On 28 April 2020, Mr Wesley Edwards of CVR Global (B.V.I.) 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. Azure Services Ltd did not. Anglian Water Services. Copyright 2023 Timeshare Termination Team. | Azure is a sales and marketing company, constantly innovating and leading the evolution of the travel and leisure industry We believe in empowering people to live the experiences they love. 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. Kind regards, Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. You can find out more about which cookies we are using or switch them off in settings. 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. Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. But opting out of some of these cookies may have an effect on your browsing experience. A voluntary winding up typically takes between 12 and 16 months from the date of the decision to wind up the company. 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. Select Segment Commercial, then type "Microsoft Azure". 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. 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. This boot hits your feet like those well worn boots you default to. I cant afford the loan and have negotiated with Barclays to reduce therepaymentsbut I still owe 15,000.. 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. 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. Here is a reproduction of an email received from one concerned Azure owner: Had a call from these, and others have also. The full statement can be read HERE. The fact that a foreign company has a branch in Malta does not, of itself, constitute residence. If you disable this cookie, we will not be able to save your preferences. So far we have a nonexistent company that was formed less than two months ago, this is not looking good. Re: Golden Sands, Mellieha. 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. The Azure Window has collapsed and it is not just the top part which has fallen off - even the stacks have gone. 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. The enshittification of apps is real. 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. 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. 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. Latest TimeshareTaskForce Customer Testimonial, Request for Erasure/Remove Consent/Subject Access Request/Update Data. Azure Services Limited is an MFSA registered company currently owned by Corinthia and Mediterranean Overseas Holdings Limited. Turning to the website, it was only registered on16th September 2020and is set to expire on16th September 2021. MediaToday is an independent media house based in Malta. Search. Roger Chessell, a Xagra resident, was at Dwejra when the window collapsed at . 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. Request for Erasure/Remove Consent/Subject Access Request/Update Data Meet our staff and find out what it's like to work for Azure. Customer Stories. On the contact page there is the usual form to fill in and submit. 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. IHI owns 50% of the Golden Sands Resort and the Azure Group. We'll assume you're ok with this, but you can opt-out if you wish. If you have any questions on this letter please contact the liquidators at the address provided in the letter. Azure Services Ltd was set up in 2003 when the resort, which belonged to Island Hotels Group, had opened its doors. The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. Original . Malta (356) 2247 6100 info@premium.com.mt. Please know what you are buying these are not beads, These are crystal stones set into a brass setting. Naturally we at TCA will be following developments closely and will report our findings as and when developments take place. Beware of Scammers, Pro Timeshare Resales exposed by Action 9. In recent months, the company had been going through a rough patch. 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?. According to its website, Azure Services Ltd, which employed 180 staff, had more than 5,500 members. Google Chrome It was sold to Corinthia in 2015. x-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. Two geological wonders sit side-by-side on the Maltese island of Gozo: the Azure Window and the Blue Hole. Independent journalism costs money. Barclays had a contract with Azure Resorts Limited, which was authorised by the UK Financial Conduct Authority for credit brokering. A liquidator is an officer of the court, his appointment is ratified by creditors. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. The window is a towering rock formation reaching 328 feet (100 meters) high with a . 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. Click here to view a copy of the PDF of decision made in August 2018 by Judge Timothy Herrington. Please find attached a letter we have been asked to forward to you by the joint liquidators. 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. Excluding bank holidays, Visit KwikChex Website Barclays is to fully compensate almost 1,500 customers who were improperly sold timeshare loans by Azure in Malta worth a total of 48m.