The tourism and timeshare company centred on the Radisson Blu Golden Sands filed for liquidation in May 2020. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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. Re: Golden Sands, Mellieha. On 7th May 2020 it was announced that Azure Resorts Limited had entered liquidation. 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. 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. away from the sale of timeshare products and services and focus more on traditional high-end tourism at the resort. 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. Liquidation is a formal insolvency process governed by the Act the purpose of which is to protect an insolvent company's creditors. 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 . Facebook Twitter YouTube Pinterest. The telephone number:01935 548 026, the STD code is for Yeovil in Somerset; although we very much doubt that any such company exists in Yeovil. Simply log into Settings & Account and select "Cancel" on the right-hand side. Customer Stories. 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! 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). We also use third-party cookies that help us analyze and understand how you use this website. In fact, the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. It first hit the news in 2019 for misselling timeshares to hundreds of British holidaymakers in 2019. Alternatively, fill in your details and we will call back. is badger collectibles legit; sony cd player keeps ejecting disc; visa gift card check balance Menu Toggle. Azure Kubernetes Service Edge Essentials is an on-premises Kubernetes implementation of Azure Kubernetes Service (AKS) that automates running containerized applications at scale. That is to say, it was all planned to save as much cash as possible for the " Trotta " heirs. 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. Check if your You may change or cancel your subscription or trial at any time online. The remaining 50% is owned by international investors specializing in timeshare resort operations. personalising content and ads, providing social media features and to 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. However, it remains to be seen whether they have been able to address 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. The below update was sent to Azure consumers yesterday. 01908 881058 info@timeshareconsumerassociation.org.uk Donate, timeshare consumer association friendly timeshare advice since 1997. KwikChex has been in contact with the liquidators, who continue to reassure that the benefits of timeshare ownership will remain. 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. Azure has categorically denedhaving conducted inappropriate selling. TA1 4EB, (Please contact us by web form, email or phone for quickest response), Registered in the UK Cookie Policy The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. 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. Azure Services Ltd Malta Liquidation. It said it was facing a number of litigation claims from clients who allege misrepresentation. We bring together luxury hotels, resorts, supercars, motorhomes and unforgettable experiences . 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. Company No. Select Segment Commercial, then type "Microsoft Azure". Boss the game, deliver masterful ball control, and be the apex Predator in your game. We use cookies to ensure that we give you the best experience on our website. Support Times of Malta for the price of a coffee. Kindly check your inbox after sign-up to confirm subscription. 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. . VCSL in turn has established a company in Malta called VCMS Co Limited, which will employ local staff to service the clubs members. 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. This certainly does not leave people with much time to organise, could it be that the whole point is to rush the liquidation through? Complex issues have arisen related to administration and insolvency of a small number of timeshare businesses. Caroline Hodgson/AP An iconic Maltese natural rock arch collapsed into the sea Wednesday. 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. Beware of Scammers, Pro Timeshare Resales exposed by Action 9. by Matthew Vella. The window is a towering rock formation reaching 328 feet (100 meters) high with a . These cookies do not store any personal information. 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. 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. 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 . The Companies Act [CAP. 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. 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"). These were formalities as such to enable the continuation of the liquidation process. 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 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. 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. 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. But Azure was found to have operated without authorisation under British law to act as financial broker between April 2014 and April 2016. The enshittification of apps is real. 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. Website Terms & Conditions Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. Customers had complained that the terms of the loans were not explained to them, and that proper credit checks were not carried out and that they were pressured into signing deals. For and on behalf of FNTC (UK) Ltd. What should a secular society really look like? You also have the option to opt-out of these cookies. He said: I cant believe I fell for it. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. Products Databases. Maintence Fee Calculator | Privacy Policy | Terms & Conditions | Cookies Policy. 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. We use 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. Kind Regards Somerset, Be aware that disabling cookies will affect the functionality of this and many other websites that you visit. Under Azure plan, select Add to cart. The PN says the PM should make the future of Air Malta clear. 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. 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. This has been 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.