These were formalities as such to enable the continuation of the liquidation process. 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 Please find attached a letter we have been asked to forward to you by the joint liquidators. For all the latest news and views from RDO. VCSL in turn has established a company in Malta called VCMS Co Limited, which will employ local staff to service the clubs members. However, it later discovered the staff were employed by the unlicensed Azure Services Limited. Martin Brylka What should a secular society really look like? 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. That 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. The company, Azure Services Limited, markets timeshare at the resorts formerly owned by Island Hotels and Winston Zahra, of . 12-14 The Crescent, You may change or cancel your subscription or trial at any time online. The Azure Group initially introduced the Island Residence Club in 2003 and after establishing the Club as one of Europe's most exclusive Vacation Owne See more 34,952 people like this 34,480 people follow this http://www.azuregoldensands.com/ +356 2356 1000 info@azure.com.mt This website uses cookies to improve your experience while you navigate through the website. It was sold to Corinthia in 2015. 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. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. 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 . 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". The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. 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. 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. Facebook; 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 Declaration of Solvency is a very important statement in which the majority of the Directors declare that they have made a full . Thank you for your enquiry. The resorts owned by Azure - which boasted large lagoon swimming pools and luxury spas - were marketed as being backed by Mr Giggs and Mr Neville, who was made Malta's tourism ambassador in the. 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. 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. All shareholders have reaffirmed their commitment towards the future of the Golden Sands Resort as a high-end luxury destination. 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. 109519. 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. Inside Timeshare has received many enquiries as to what is going to happen to members of the "club"? 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. When we do this, YouTube may store cookies in order to track how people are watching videos on their site. Mozilla Firefox. Be aware that disabling cookies will affect the functionality of this and many other websites that you visit. or 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. Adding further to the above article, the Corinthia group published an announcement on their website on 5th May 2020 giving their insight and comments regarding the Azure situation. Upon a search of UK Companies House and the Spanish equivalent we can find no sign of the existence of this company. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Google Chrome Sign in to get trip updates and message other travellers.. Malta ; Hotels ; Things to do ; Restaurants ; Flights ; Holiday Rentals The customer story you selected is no longer available. So far we have a nonexistent company that was formed less than two months ago, this is not looking good. Timeshare Watchdog were informed that Azure Services Ltd. of Malta entered into liquidation proceedings. I cant see this company registered at companies house and their website looks amateurish. In November 2020 the bank was told by the Financial Conduct Authority to repay interest charged on loans issued between April 2014 and April 2016 by the timeshare operator Azure Services (now in liquidation). Out of the blue Azure timeshare owners received emails from the Company's Joint Liquidators Mr Wesley Edwards of CVR Global (B.V.I.) 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. The company hit the news after it faced allegations of misselling timeshares to hundreds of British holidaymakers in 2019. Malta Malta's Azure Window collapses after heavy storm - video The landmark limestone arch that once featured in Clash of the Titans and Game of Thrones has tumbled into the sea . Login below for access to exclusive content. Kind Regards Video taken by bystanders . Find many great new & used options and get the best deals for 1887 US Indian Head Penny Coin - Estate Find Blue Book Collection Liquidation at the best online prices at eBay! But Azure was found to have operated without authorisation under British law to act as financial broker between April 2014 and April 2016. A liquidator was chosen in May 2020. We queried this with the liquidators, who have replied advising that they have now updated these members. 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. Taunton, Kindly check your inbox after sign-up to confirm subscription. Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. 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. 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. Please ensure you have filled out all required fields, Timeshare Termination Team | Timeshare | Timeshare Exit | Timeshare Claims. . He said they are having hundreds of calls about it. It is mandatory to procure user consent prior to running these cookies on your website. The UKs financial conduct watchdog is investigating 54 million in loans made to Golden Sands timeshare buyers. Complaints Policy 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 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 remaining 50% is owned by international investors specializing in timeshare resort operations. They reaffirmed that the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. cvr.global. Last December, it announced it would no longer sell timeshare and holiday clubs but focus on its existing members. The Azure Window has collapsed and it is not just the top part which has fallen off - even the stacks have gone. A vote on the potential nominee for the office of the liquidator will also be taken. Lovin Malta has spoken to previous customers of the timeshare operation who regularly described loans with generally high-interest rates. The company ran into financial trouble towards the end of 2019. Azure Malta | 2,050 followers on LinkedIn. Alex Lawson from Alvarez and Marsal (Cayman Islands) has appointed himself as an administrator/director to oversee the . You can prevent the setting of cookies by adjusting the settings on your browser (see your browser Help for how to do this). 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. Matthew Vella is executive editor at MaltaToday. Both Azure Resorts Ltd and Azure Services Ltd began liquidation proceedings in April 2020. You can configure or reject the use of cookies or obtain more information in our Privacy Policy. So effectively, its business as usual, but not according to Themis Resolution. 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. 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. analyse how our Sites are used. 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 . Do your own due diligence, check the registration of the company, if there is no registration then it is not a legitimate company. Prime Minister Joseph Muscat said the news was "heartbreaking". Request for Erasure/Remove Consent/Subject Access Request/Update Data For a full comparison of Standard and Premium Digital, click here. 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. 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. 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. 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. You also have the option to opt-out of these cookies. KwikChex has been informed that Azure Services Ltd. of Malta has entered into liquidation proceedings. 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). 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. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Keeping this cookie enabled helps us to improve our website. Azure Services Limited was an MFSA registered company owned by Corinthia and Mediterranean Overseas Holdings Limited. The company ran into financial trouble towards the end of 2019. Excluding bank holidays, Visit KwikChex Website 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. On 28 April 2020, Mr Wesley Edwards of CVR Global (B.V.I.) Please enable Strictly Necessary Cookies first so that we can save your preferences! In 2015, Corinthia Group assumed 50 per cent share of the company as part of their takeover of the Island Hotels Group. The enshittification of apps is real. 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. 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 Independent journalism costs money. Timeshare Consumer Association Limited is registered as a data controller with the information commissioners office (ico) under registration number: ZA765267. 386] regulates the liquidation of a company registered in Malta. Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May.