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KwikChex will provide free information assistance to any consumers affected by such matters. This category only includes cookies that ensures basic functionalities and security features of the website. Be aware that disabling cookies will affect the functionality of this and many other websites that you visit. 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. Sometimes we include content from other sites on our site, for example, YouTube videos. Neville, 43, resigned as a director of Island Hotels in September 2015 when the company was merged with IHI plc. Roger Chessell, a Xagra resident, was at Dwejra when the window collapsed at . It collapsed into the sea on March 8th. This website uses cookies to improve your experience. Last December, it announced it would no longer sell timeshare and holiday clubs but focus on its existing members. Beware of Scammers, Pro Timeshare Resales exposed by Action 9. If you have any questions on this letter please contact the liquidators at the address provided in the letter. 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. Malta's famous Azure Window rock arch has collapsed into the sea after heavy storms. The full statement can be read HERE. Nov 2021 - Present1 year 5 months. 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. who were victoria winters parents. 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. | 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. 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. Malta 'It's heartbreaking': Maltese mourn collapse of Azure Window arch Limestone arch, landmark which featured in Clash of the Titans and Game of Thrones, crashes into sea after heavy storm. 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. Build in the cloud with an Azure free account Create, deploy, and manage applications across multiple clouds, on-premises, and at the edge Start free Pay as you go Popular services free for 12 months View all services + 55+ other services free always View all services + Start with USD200* Azure credit Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. You can revoke your consent any time on our Privacy Policy page. 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. 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. away from the sale of timeshare products and services and focus more on traditional high-end tourism at the resort. The spectacular Azure Window rock arch on Malta's island of Gozo collapsed into the sea in 2017. Timeshare Watchdog were informed that Azure Services Ltd. of Malta entered into liquidation proceedings. A liquidator is an officer of the court, his appointment is ratified by creditors. Now a Russian architect wants to build a mirrored steel archway in its place. Limited and Mr Barry Lynch of Alvarez & Marsal Cayman Islands Limited, were appointed Joint Liquidators of Azure Resorts Limited and Azure XP Limited. For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: [email protected], Timeshare Consumer Association is a company limited by guarantee registered in England under number 12662338. 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. 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. The first creditors meetings have taken place with regard to the various Azurecompanies. 386] regulates the liquidation of a company registered in Malta. A liquidator was chosen in May 2020. This website uses cookies to improve your experience while you navigate through the website. 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. Copyright MediaToday Co. 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Facebook; or IHI owns 50% of the Golden Sands Resort and the Azure Group. A dedicated webpage has been set-up to keep owners and creditors informed https://cvr.global/azure/. Azure Services Ltd did not. 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. download the update directly (PDF download). 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 full statement can be read HERE. This Declaration of Solvency is a very important statement in which the majority of the Directors declare that they have made a full . According to its website, Azure Services Ltd, which employed 180 staff, had more than 5,500 members. You can still enjoy your subscription until the end of your current billing period. You can prevent the setting of cookies by adjusting the settings on your browser (see your browser Help for how to do this). We are using cookies to give you the best experience on our website. KwikChex has been in contact with a number of parties, including trustees and will continue to provide information to the best of our ability. It collapsed on Wednesday morning after being battered by a storm. 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. Premium access for businesses and educational institutions. By browsing this site you are giving your consent for us to set cookies. If you want to know more about what cookies are and how to control them, aboutcookies.org is a great resource. IF YOU FEEL YOU HAVE BEEN MIS-SOLD , YOU PROBABLY HAVE.FOR FREE ADVICE AND GUIDANCE ON YOUR BEST WAY FORWARD THEN GIVE US A CALL . Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. 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. 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 liquidator will also be tasked in paying any wages due to employees. Click here to browse all stories. August 20, 2022. . We use cookies to ensure that we give you the best experience on our website. Azure Services Limited was an MFSA registered company owned by Corinthia and Mediterranean Overseas Holdings Limited. The UKs financial conduct watchdog is investigating 54 million in loans made to Golden Sands timeshare buyers. cvr.global. Liquidation lot - 750,000 plus preset crystals 2.5mm CrystalQueenDesigns Following Follow. Both Azure Resorts Ltd and Azure Services Ltd began liquidation proceedings in April 2020. 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. Complaints Policy 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. 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. 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. KwikChex has been informed that Azure Services Ltd. of Malta has entered into liquidation proceedings. 01908 881058 [email protected] Donate, timeshare consumer association friendly timeshare advice since 1997. 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. Sign in to get trip updates and message other travellers.. Malta ; Hotels ; Things to do ; Restaurants ; Flights ; Holiday Rentals Timeshare Consumer Association Limited is registered as a data controller with the information commissioners office (ico) under registration number: ZA765267. 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. I cant afford the loan and have negotiated with Barclays to reduce therepaymentsbut I still owe 15,000.. Copyright 2023 Times of Malta. Free shipping for many products! Databases. Azure has categorically denedhaving conducted inappropriate selling. 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. Maintence Fee Calculator | Privacy Policy | Terms & Conditions | Cookies Policy. This is not the first time that Azure has hit the headlines for all the wrong reasons: https://www.investegate.co.uk/m1-legal/rns/timeshare-mis-sellingthe-next-financial-scandal-/201901171348054103N/, https://www.thetimes.co.uk/article/gary-neville-s-link-to-alleged-mis-selling-of-malta-timeshares-pfxq0tznv. 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. It is understood that the Shareholders of Azure Services Ltd passed a resolution for the company to be wound up under a creditors voluntary winding up on 27 April 2020. Azure Services Ltd. Malta Liquidation 07/05/20. 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 . He said they are having hundreds of calls about it. So who are Themis? https://timesharetaskforce.org/wp-content/themes/blake/, /home/customer/www/timesharetaskforce.org/public_html/, https://timesharetaskforce.org/wp-content/themes/blake, Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Tumblr (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Pinterest (Opens in new window), this important update from the Joint Liquidators. KwikChex will be pleased to help evaluate any such approaches. KwikChex has been in contact with the liquidators, who continue to reassure that the benefits of timeshare ownership will remain. Azure said it was offering its full support to Barclays in its application for a validation order. We have seen many examples of attempts to defraud consumers in similar circumstances. Nevertheless, the position that we are adopting on behalf of our clients is that our clients are . 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. 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. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. Click here to view the PDF notification that has been issued concerning this. 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. Crowdfunding Campaign To Fund Legal Challenge To DB Group Project Collects 18,000 In Just Over A Week, Get Nominating Now! Lovin Malta has spoken to previous customers of the timeshare operation who regularly described loans with generally high-interest rates. This website uses cookies to improve your experience. This website uses cookies to improve your experience while you navigate through the website. It was set up by the Island Hotels Group in 2003. 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. All rights reserved. However, it later discovered the staff were employed by the unlicensed Azure Services Limited. Customise . Support rapid growth and innovate faster with secure, enterprise-grade, and fully managed database services . 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. Telephoning from outside the UK: 00 44 1823 510625. The company hit the news after it faced allegations of misselling timeshares to hundreds of British holidaymakers in 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 . Please ensure you have filled out all required fields, Timeshare Termination Team | Timeshare | Timeshare Exit | Timeshare Claims. The Financial Times said that the customers were charged in excess of 9%. 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 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. For the sake of clarity, please see a copy of the response we received which also includes a link to a dedicated information website. It was set up by the Island Hotels Group in 2003, which marketed timeshares at the Radisson Blu Golden Sands. 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). personalising content and ads, providing social media features and to 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. All of these matters are likely to be complex and take some time and KwikChex will do all possible to provide updates. For and on behalf of FNTC (UK) Ltd. 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. Thank you for your enquiry. We'll assume you're ok with this, but you can opt-out if you wish. Cookie Policy 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. 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"). 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. It has been brought to our attention that Azure Services Ltd have filed for liquidation. 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. 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 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. Alternatively, fill in your details and we will call back. We will have more information in the coming weeks. Mozilla Firefox. The company ran into financial trouble towards the end of 2019. Support Times of Malta for the price of a coffee. I maintain all support systems and hierarchies that our reporting is based upon. Creditors have been notified that on May 11 a telephone conference would be. Kind Regards 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. How you purchase the Azure plan is similar to purchasing any other subscription. Alternatively,download the update directly (PDF download). Elon Musks Twitter is dying a slow and tedious death. 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 key difference is that before you actually place your order you need to confirm that your customer has signed the Microsoft Customer Agreement. A vote on the potential nominee for the office of the liquidator will also be taken. 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. Azure hoped the company would move. Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. Video taken by bystanders . Facebook Twitter YouTube Pinterest. Azure Liquidation Updates 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 0 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. Copyright 2023 Timeshare Termination Team. We recommend using 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. 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. Caroline Hodgson/AP An iconic Maltese natural rock arch collapsed into the sea Wednesday. You can revoke your consent any time on our Privacy Policy page. They reaffirmed that the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. Independent journalism costs money. Timeshare Group in Liquidation Hits the News Again. We use cookies to ensure that we give you the best experience on our website. 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 . So effectively, its business as usual, but not according to Themis Resolution. This is an ongoing review process by the UK Financial Conduct Authority (FCA) and will continue. 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