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. 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. Limited and Mr Barry Lynch of Alvarez & Marsal Cayman Islands Limited. A liquidator was chosen in May 2020. kenyon murray daughter Menu Toggle. According to its website, Azure Services Ltd, which employed 180 staff, had more than 5,500 members. For and on behalf of FNTC (UK) Ltd. Request for Erasure/Remove Consent/Subject Access Request/Update Data Caroline Hodgson/AP An iconic Maltese natural rock arch collapsed into the sea Wednesday. This certainly does not leave people with much time to organise, could it be that the whole point is to rush the liquidation through? Google Chrome 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. 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 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. Facebook; Inside Timeshare has received many enquiries as to what is going to happen to members of the "club"? 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. Necessary cookies are absolutely essential for the website to function properly. Back in December last year Inside Timeshare reported that Azure Services Ltd had ended the sales of timeshare, this resulted in the loss of around 80 jobs. 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. Sign in to get trip updates and message other travellers.. Malta ; Hotels ; Things to do ; Restaurants ; Flights ; Holiday Rentals VCMS Malta is dedicated solely and exclusively to vacation club management services. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Liquidation or dissolution is the procedure for concluding the affairs of a company when it decides to terminate its operations or when it cannot continue to operate by reason of its insolvency. 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. 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. This boot hits your feet like those well worn boots you default to. Support rapid growth and innovate faster with secure, enterprise-grade, and fully managed database services . https://insidetimeshare.com/?s=exclusive+breaking+news. Telephoning from outside the UK: 00 44 1823 510625. Declaration of Solvency. MediaToday is an independent media house based in Malta. Timeshare Consumer Association Limited is registered as a data controller with the information commissioners office (ico) under registration number: ZA765267. 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,. The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. We recognise that we did not provide the right level of service for some customers who bought timeshare loans, Barclays said. 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. Taunton, Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. What is the typical timeframe for completion of liquidation procedures? You can prevent the setting of cookies by adjusting the settings on your browser (see your browser Help for how to do this). Click here to view the PDF notification that has been issued concerning this. It has been brought to our attention that Azure Services Ltd have filed for liquidation. 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. 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. The Azure Group carried out the sales function of the timeshare operation at the Golden Sands Resort for the past 17 years. cvr.global. 2,275 sales | 4.5 out of 5 stars. Who to fire? Privacy Policy So who are Themis? Last December, it announced it would no longer sell timeshare and holiday clubs but focus on its existing members. 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 . Azure has categorically denedhaving conducted inappropriate selling. 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. 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). These cookies do not store any personal information. Barclays is to fully compensate almost 1,500 customers who were improperly sold timeshare loans by Azure in Malta worth a total of 48m. pillow pellow milk melk; 7th birthday party ideas for girl at home This category only includes cookies that ensures basic functionalities and security features of the website. Creditors have been notified that on May 11 a telephone conference would be held to appoint Richard Galea Debono as liquidator. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. 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. Select Segment Commercial, then type "Microsoft Azure". You can revoke your consent any time using the Revoke consent button. 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. Neville, 43, resigned as a director of Island Hotels in September 2015 when the company was merged with IHI plc. Gain a global perspective on the US and go beyond with curated news and analysis from 600 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). 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. Independent journalism costs money. 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. 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. Exchange House, Tue 09:00 - 17:00. 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. If they know more about you than they should, thats also not a good sign. Crowdfunding Campaign To Fund Legal Challenge To DB Group Project Collects 18,000 In Just Over A Week, Get Nominating Now! We use cookies to ensure that we give you the best experience on our website. Click here to view a copy of the PDF of decision made in August 2018 by Judge Timothy Herrington. In recent months, the company had been going through a rough patch. 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. 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. The below update was sent to Azure consumers yesterday. We also use third-party cookies that help us analyze and understand how you use this website. Citrine, Capri, Burgundy, Blue Zircon, Erinite, Peridot, Jonquil, Indian red, light azure. 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. Sources have claimed that the company also applied for and received the COVID-19 supplement for the April salary. KwikChex will provide free information assistance to any consumers affected by such matters. 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. Huntingdon, England, United Kingdom. On 7th May 2020 it was announced that Azure Resorts Limited had entered liquidation. 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. Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. Helpline Hours 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. 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. Registered Office: Artemis House, 4a Bramley Road, Mount Farm, Milton Keynes, MK1 1PT. 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. The window is a towering rock formation reaching 328 feet (100 meters) high with a . But Azure was found to have operated without authorisation under British law to act as financial broker between April 2014 and April 2016. Simply log into Settings & Account and select "Cancel" on the right-hand side. 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. The target date for the completion of Air Malta's restructuring plan has been extended to the end of the month as the "sensitivity" of the task made it more difficult to meet the early January deadline, Timesofmalta.com reported. 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. You can still enjoy your subscription until the end of your current billing period. 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. A liquidator is an officer of the court, his appointment is ratified by creditors. KwikChex will be pleased to help evaluate any such approaches. 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. This category only includes cookies that ensures basic functionalities and security features of the website. The PN says the PM should make the future of Air Malta clear. Both Azure Resorts Ltd and Azure Services Ltd began liquidation proceedings in April 2020. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. 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. Out of the blue Azure timeshare owners received emails from the Company's Joint Liquidators Mr Wesley Edwards of CVR Global (B.V.I.) Turning to the website, it was only registered on16th September 2020and is set to expire on16th September 2021. That is to say, it was all planned to save as much cash as possible for the " Trotta " heirs. 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 Companies Act [CAP. 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 I know there is no such thing as a freelunchbut it was such a good offer. What should a secular society really look like? Kind regards, 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. 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. by TVM Newsroom August 20, 2022. We have been advised by an Azure consumer of an important update from the Joint Liquidators. Alex Lawson from Alvarez and Marsal (Cayman Islands) has appointed himself as an administrator/director to oversee the . 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. We use cookies on this site to enhance your user experience. We use cookies to ensure that we give you the best experience on our website. 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? Necessary cookies are absolutely essential for the website to function properly. The landmark Azure Window, off the Maltese island of Gozo, has collapsed into the sea during a storm. If you want to know more about what cookies are and how to control them, aboutcookies.org is a great resource. Around 80 people lost their jobs right before Christmas. 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. 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. The company hit the news after it faced allegations of misselling timeshares to hundreds of British holidaymakers in 2019. H eavy storms in the Mediterranean were the eventual undoing of Malta . 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. It is understood Barclays had a contract with Azure Resorts Limited, which was authorised by the FCA for credit broking, but later discovered the staff were employed by the unlicensed Azure Services Limited. or 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 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. We recommend using For cost savings, you can change your plan at any time online in the Settings & Account section. Azure Services Ltd was set up in 2003 when the resort, which belonged to Island Hotels Group, had opened its doors. 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. by Matthew Vella. Major shareholder 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. 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. 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. How you purchase the Azure plan is similar to purchasing any other subscription. KwikChex has been informed that Azure Services Ltd. of Malta has entered into liquidation proceedings. Executive It first hit the news in 2019 for misselling timeshares to hundreds of British holidaymakers in 2019. Here we go again. 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! 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). Radisson Blu Golden Sands. We will provide members with updates on our progress through the dedicated website https://cvr.global/azure/. 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. LTD. (Singapore, 8 Feb 2019 - ) You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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. 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. 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. 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. We support credit card, debit card and PayPal payments. 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 By browsing this site you are giving your consent for us to set cookies. Two geological wonders sit side-by-side on the Maltese island of Gozo: the Azure Window and the Blue Hole. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Cookie Policy Thank you for your enquiry. 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. A vote on the potential nominee for the office of the liquidator will also be taken. The fact that a foreign company has a branch in Malta does not, of itself, constitute residence. Latest TimeshareTaskForce Customer Testimonial, Request for Erasure/Remove Consent/Subject Access Request/Update Data. There have also been claims that false representations were also made about the loans financial impact. 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. 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. Do your own due diligence, check the registration of the company, if there is no registration then it is not a legitimate company. The tourism and timeshare company centred on the Radisson Blu Golden Sands filed for liquidation in May 2020. Copyright 2023 Times of Malta. 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. Keeping this cookie enabled helps us to improve our website. We bring together luxury hotels, resorts, supercars, motorhomes and unforgettable experiences . Copyright MediaToday Co. Ltd, Vjal ir-Rihan, San Gwann SGN 9016, Malta, Europe, 'Good to be back' - Robert Metsola returns for second visit to war-torn Ukraine, Activists take to Valletta for Global Climate Strike, Bank of Valletta lends support to 31st Malta Journalism Awards, Malta experts: AI will cost jobs, but create new ones and reduce business costs, Say goodbye to traditional business cards and hello to DOUP, The parties must prove the claims against each other, First Games of the Small States of Europe Local Council Roadshow Hosted in urrieq, Former Chelsea midfielder Christian Atsu found buried under rubble in Turkey, My essentials: Milica Lawrences cultural picks, Play inspired by Daniel Holmes, arrives at Blue Box Theatre this March, Britain's Got Talent star Alesha Dixon and comedian Graham Norton to present Eurovision in Liverpool, Were all friends with Adrian Delia, now, Nurses union planning industrial action over 'humiliating' sectorial agreement negotiations, Epic launches fresh new TV service Epic TV with Zattoo streaming provider, Formula 1 is back, and it promises to be a blockbuster season, Addressing food security and sustainability | Anton Refalo. The Azure Window, a natural rock arch in Malta and a backdrop for the "Game of Thrones" TV series, fell into the sea on Wednesday in a storm. Mon 09:00 - 17:00. RDO members can log in to rdo.org, and when they do we use cookies to track that they have logged in. Azure Services Ltd Malta Liquidation. 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. Timeshare Watchdog were informed that Azure Services Ltd. of Malta entered into liquidation proceedings. 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. 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. We would also urge Azure timeshare owners to be very cautious regarding any approaches made regarding compensation claims. 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. The full statement can be read HERE. The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. Around 80 people lost their jobs right before Christmas. We will be contacting those impacted to apologise for what has happened, and to let them know how we will be putting this right.. 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 27 th April 2020. 386] regulates the liquidation of a company registered in Malta. The remaining 50% is owned by international investors specializing in timeshare resort operations. Most scam companies have sliver tongued sales staff at the end of the phone who purport to turn lead into gold, unfortunately, quite the reverse tend to be the case and your hard earned gold will soon be turned into lead if you entertain them. 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. These cookies do not store any personal information. 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 .