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The landmark Azure Window, off the Maltese island of Gozo, has collapsed into the sea during a storm. All rights reserved. Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. It uses cookies to detect how long people stay on the site, which pages they visit, their country of origin and whether they are a new or returning visitor. Crowdfunding Campaign To Fund Legal Challenge To DB Group Project Collects 18,000 In Just Over A Week, Get Nominating Now! Azure hoped the company would move away from the sale of timeshare products and services and focus more on traditional high-end tourism at the resort. For a full comparison of Standard and Premium Digital, click here. The Azure Group carried out the sales function of the timeshare operation at the Golden Sands Resort for the past 17 years. 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. 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. Mozilla Firefox. 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. Here is a reproduction of an email received from one concerned Azure owner: Had a call from these, and others have also. Azure | Timeshare Task Force 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. 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. 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 by Matthew Vella. Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. We'll assume you're ok with this, but you can opt-out if you wish. 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. Boss the game, deliver masterful ball control, and be the apex Predator in your game. 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. The Azure Window during happier times. Nov 2021 - Present1 year 5 months. 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. Prime Minister Joseph Muscat said the news was "heartbreaking". This boot hits your feet like those well worn boots you default to. Photo: GettySub. Barclays ordered to repay millions on timeshare loans in Malta If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Google Chrome Exchange House, https://insidetimeshare.com/?s=exclusive+breaking+news. If you want to know more about what cookies are and how to control them, aboutcookies.org is a great resource. By using this site, you agree to our Privacy Policy including the use of cookies to enhance your experience. Sources have claimed that the company also applied for and received the COVID-19 supplement for the April salary. It said it was facing a number of litigation claims from clients who allege misrepresentation. 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 PN says the PM should make the future of Air Malta clear. 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. Financial Ombudsman Service: Blind to Evidence? 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. Timeshare Consumer Association Limited is registered as a data controller with the information commissioners office (ico) under registration number: ZA765267. 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). Azure Services liquidation - Timeshare Termination Team 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. Darrin Zammit Lupi/Reuters By Tamara Best. 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. Thu, May 12 - Thu, May 26 Wolverine Import . Standard Digital includes access to a wealth of global news, analysis and expert opinion. A voluntary winding up typically takes between 12 and 16 months from the date of the decision to wind up the company. This certainly does not leave people with much time to organise, could it be that the whole point is to rush the liquidation through? 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. 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. We also use third-party cookies that help us analyze and understand how you use this website. The Azure Window, a natural arch off the coast of Gozo in Malta, collapsed into the sea on March 8. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Azure Services Ltd Malta Liquidation - Timeshare Users Forum Kind Regards It collapsed into the sea on March 8th. We bring together luxury hotels, resorts, supercars, motorhomes and unforgettable experiences . But Azure was found to have operated without authorisation under British law to act as financial broker between April 2014 and April 2016. Rizzo, Farrugia & Co. (Stockbrokers) Ltd. 2023. Home | VCMS Malta Club Manager 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. Pricing Calculator | Microsoft Azure - azure.microsoft.com We recognise that we did not provide the right level of service for some customers who bought timeshare loans, Barclays said. This means that every time you visit this website you will need to enable or disable cookies again. Azure Golden Sands is a 5-star Mediterranean resort in Malta. Meet our staff and find out what it's like to work for Azure. By Cameron Macphail 8 March 2017 4:15pm. Alternatively,download the update directly (PDF download). 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). Welcome to the start of another week with Inside Timeshare, today we publish the following press release from the Azure Malta Action and Support Group and their ongoing battle with Barclays Partner Finance. Meanwhile, any action taken with respect to the curtailment of employees will be made in line with all local regulations. Around 80 people lost their jobs right before Christmas. We use cookies on this site to enhance your user experience. What should a secular society really look like? The incident was a result of years of erosion, according to experts. This Declaration of Solvency is a very important statement in which the majority of the Directors declare that they have made a full . This. 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. Lovin Malta has reached out to Azure Services Limited for a comment. This website uses cookies to improve your experience while you navigate through the website. azure malta liquidation - casessss.com "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. 07-05-2020, 01:31 PM. It was set up by the Island Hotels Group in 2003, which marketed timeshares at the Radisson Blu Golden Sands. Copyright 2023 Timeshare Termination Team. Premium access for businesses and educational institutions. 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. We use We use cookies to ensure that we give you the best experience on our website. | 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. The Azure Window, a limestone arch in Malta, was popular with locals and tourists. 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. KwikChexis a Registered Trademark, KwikChex Ltd, Some consumers have also been seeking clarification regarding the earlier court order concerning loans made to purchase timeshare between 1 April 2014 and 24 April 2016. 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. Somerset, Azure Services Ltd did not. Mediterranean Overseas Holdings Ltd is also another company owned by the late Bob Trotta under the parent company the Limora Group. 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. As reported on our website a new club manager has been appointed https://rdo.org/industry-updates/new-club-manager-appointed-for-azure-resorts/ and you can contact the contact the club via Telephone number: 00 356 2356 1000, or E-mail address: reservations@vcmsmalta.com. 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. Future of Air 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. RDO members can log in to rdo.org, and when they do we use cookies to track that they have logged in. You can configure or reject the use of cookies or obtain more information in our Privacy Policy. The Financial Times said that the customers were charged in excess of 9%. Malta mourns Azure Window loss | CNN 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. Elon Musks Twitter is dying a slow and tedious death. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. Copyright 2023 Times of Malta. Naturally we at TCA will be following developments closely and will report our findings as and when developments take place. 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 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. 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. Please find attached a letter we have been asked to forward to you by the joint liquidators. For the sake of clarity, please see a copy of the response we received which also includes a link to a dedicated information website. Azure Services Limited is an MFSA registered company currently owned by Corinthia and Mediterranean Overseas Holdings Limited. This website uses cookies to improve your experience. The Azure Window and the Blue Hole - San Lawrenz, Malta - Atlas Obscura Air Malta Restructuring Date Extended | Global Insolvency AZURE AVIATION LIMITED (United Kingdom, 10 Mar 2022 - ) AZURE AVIATION PRIVATE LIMITED (India, 27 Sep 2019 - ) Azure Dragon Aviation Limited (Hong Kong, 9 Jul 2019 - ) Azure Aviation Ltd. (Bahamas) Sino Azure Aviation Consulting Company Limited (Hong Kong, 20 Jan 2014 - ) AZURE DRAGON AVIATION PTE. It has been brought to our attention that Azure Services Ltd have filed for liquidation. For cost savings, you can change your plan at any time online in the Settings & Account section. You can prevent the setting of cookies by adjusting the settings on your browser (see your browser Help for how to do this). I cant see this company registered at companies house and their website looks amateurish. azure malta liquidation - masteringcloud.com Barclays is to fully compensate almost 1,500 customers who were improperly sold timeshare loans by Azure in Malta worth a total of 48m. VCMS Malta is dedicated solely and exclusively to vacation club management services. 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 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 . TA1 4EB, (Please contact us by web form, email or phone for quickest response), Registered in the UK Taunton, Registered Office: Artemis House, 4a Bramley Road, Mount Farm, Milton Keynes, MK1 1PT. 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. You can find out more about which cookies we are using or switch them off in settings. The spectacular Azure Window rock arch on Malta's island of Gozo collapsed into the sea in 2017. Limited and Mr Barry Lynch of Alvarez & Marsal Cayman Islands Limited. 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. We recommend using It first hit the news in 2019 for misselling timeshares to hundreds of British holidaymakers in 2019. 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 . If they know more about you than they should, thats also not a good sign. 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. According to its website, Azure Services Ltd, which employed 180 staff, had more than 5,500 members. But opting out of some of these cookies may have an effect on your browsing experience. This category only includes cookies that ensures basic functionalities and security features of the website. It was set up by the Island Hotels Group in 2003. Do your own due diligence, check the registration of the company, if there is no registration then it is not a legitimate company. Azure Malta | 2,050 followers on LinkedIn. So far we have a nonexistent company that was formed less than two months ago, this is not looking good. 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. 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. Liquidation of Azure Services Limited | Rizzo, Farrugia & Co The shareholders advise that they took this decision because the Company's financial position was deteriorating, creating sufficient doubt as to whether it would be able to pay its debts as they fall due and liquidation was required to mitigate losses to the Company's creditors.What is liquidation?Liquidation is a formal insolvency process governed by the Act the purpose of which is to protect an insolvent company's creditors. There Are Now Zero COVID-19 Patients In Maltas ITU, Get Nominating Now! 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. I am responsible for the creation, maintenance, and distribution of all Executive Level monthly Management Accounts. Click here to view a copy of the PDF of decision made in August 2018 by Judge Timothy Herrington. Azure Services Ltd was set up in 2003 when the resort, which belonged to Island Hotels Group, had opened its doors. 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. 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. 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 were formalities as such to enable the continuation of the liquidation process. We can honestly say without fear of contradiction that this is another scam in the making. organisation Reference to the restructuring process was made in a company announcement issued on May 5 by International Hotel Investments, which incorporates the Corinthia Group.