Naturally we at TCA will be following developments closely and will report our findings as and when developments take place. Two geological wonders sit side-by-side on the Maltese island of Gozo: the Azure Window and the Blue Hole. These cookies do not store any personal information. These cookies do not store any personal information. 07376192, Data Protection Policy Original . Modern Slavery Statement, Registered with Data Protection Act, Registration Number: Z2749323. In 2015, Corinthia Group assumed 50 per cent share of the company as part of their takeover of the Island Hotels Group. 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". Now a Russian architect wants to build a mirrored steel archway in its place. 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. Customise . Gain a global perspective on the US and go beyond with curated news and analysis from 600 The Financial Times said that the customers were charged in excess of 9%. 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. Meanwhile, any action taken with respect to the curtailment of employees will be made in line with all local regulations. organisation KwikChex has been informed that Azure Services Ltd. of Malta has entered into liquidation proceedings. Borrowers claimed that false representations were made about the financial impact of the loans, they were not properly informed of their duration and that vulnerable consumers were inappropriately treated. 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. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Neville, 43, resigned as a director of Island Hotels in September 2015 when the company was merged with IHI plc. 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. We have been advised by an Azure consumer of an important update from the Joint Liquidators. 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 Azure Window, a limestone arch in Malta, was popular with locals and tourists. Facebook Twitter YouTube Pinterest. Who to fire? 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. Azure Malta | 2,050 followers on LinkedIn. IHI owns 50% of the Golden Sands Resort and the Azure Group. If you have any questions on this letter please contact the liquidators at the address provided in the letter. These were formalities as such to enable the continuation of the liquidation process. 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. 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 We recently published a revised version of our. We refer you to an article published on the website of Inside Timeshare yesterday (05/05/2020), which we reproduce below: 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. The below update was sent to Azure consumers yesterday. Meet our staff and find out what it's like to work for Azure. 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. The UKs financial conduct watchdog is investigating 54 million in loans made to Golden Sands timeshare buyers. The fact is that at present, both the status of the timeshare ownerships and the question of the challenged loans are going through legal processes and the outcomes are currently unknown. Check if your The fact that a foreign company has a branch in Malta does not, of itself, constitute residence. 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. 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 purchasing of timeshares through Azure during the period between 1 April 2014 and 24 April 2016. Sources have claimed that the company also applied for and received the COVID-19 supplement for the April salary. We can honestly say without fear of contradiction that this is another scam in the making. 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 company ran into financial trouble towards the end of 2019. 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. 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. 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. Well this is a bit difficult to deduce. The landmark Azure Window, off the Maltese island of Gozo, has collapsed into the sea during a storm. 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All Rights Reserved. Azure Services Ltd was set up in 2003 when the resort, which belonged to Island Hotels Group, had opened its doors. We will have more information in the coming weeks. 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. 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. 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. KwikChex will continue to provide updates. By Cameron Macphail 8 March 2017 4:15pm. This website uses cookies to improve your experience while you navigate through the website. Barclays had a contract with Azure Resorts Limited, which was authorised by the UK Financial Conduct Authority for credit brokering. But Malta's Azure Window, known as Tieqa tad-Dwejra in Maltese, graced glossy marketing brochures since tourism began here and in many ways, the 50-meter-tall arch came to represent Malta itself. You also have the option to opt-out of these cookies. Azure Services Ltd did not. 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. For and on behalf of FNTC (UK) Ltd. 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. The key difference is that before you actually place your order you need to confirm that your customer has signed the Microsoft Customer Agreement. We have seen many examples of attempts to defraud consumers in similar circumstances. 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. The company noted that it has every intention to ensure that the upcoming liquidation is conducted in an orderly manner and that timeshare owners will continue to enjoy the same service and benefits as they have for the past years. These cookies will be stored in your browser only with your consent. However, it later discovered the staff were employed by the unlicensed Azure Services Limited. Re: Golden Sands, Mellieha. Thu, May 12 - Thu, May 26 Wolverine Import . Mozilla Firefox. Future of Air Malta. 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. 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. KwikChex has been in contact with the liquidators, who continue to reassure that the benefits of timeshare ownership will remain. It was set up by the Island Hotels Group in 2003, which marketed timeshares at the Radisson Blu Golden Sands. Barclays told the tribunal that in 2017 it received only 63 mis-selling complaints of timeshare loans, two of which it upheld. The tourism and timeshare company centred on the Radisson Blu Golden Sands filed for liquidation in May 2020. Lovin Malta has reached out to Azure Services Limited for a comment. If you disable this cookie, we will not be able to save your preferences. We use cookies to track the number of opens and clicks on both newsletters RDO Weekly News and RDO Insider. Beware of Scammers, Pro Timeshare Resales exposed by Action 9. The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. 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. If they know more about you than they should, thats also not a good sign. Creditors have been notified that on May 11 a telephone conference would be held to appoint Richard Galea Debono as liquidator. The window is a towering rock formation reaching 328 feet (100 meters) high with a . Around 80 people lost their jobs right before Christmas. This change was brought about by the recent construction of a 215 megawatt combined-cycle gas turbine (CCGT . 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. I also produce all senior ad-hoc reports. Located on the West coast of Gozo, Dwejra is perhaps the most spectacular natural monument in Malta.. Geology, time, the elements and human intervention worked together to produce a fascinating area that features the Azure Window, an Inland sea, Fungus Rock, Dwejra bay, the Blue Hole, a watch tower and cart ruts. The Companies Act [CAP. A timeshare company at the Radisson Blu Golden Sands Resort and Spa has been placed in voluntary liquidation but the shareholders are pledging to honour all commitments with the thousands of its members. I am responsible for the creation, maintenance, and distribution of all Executive Level monthly Management Accounts. Mon 09:00 - 17:00. Keeping this cookie enabled helps us to improve our website. Privacy Policy Search. 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. We will provide members with updates on our progress through the dedicated website https://cvr.global/azure/. 12-14 The Crescent, It is mandatory to procure user consent prior to running these cookies on your website. 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. 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. We will be contacting those impacted to apologise for what has happened, and to let them know how we will be putting this right.. For cost savings, you can change your plan at any time online in the Settings & Account section. 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 . We recognise that we did not provide the right level of service for some customers who bought timeshare loans, Barclays said. or 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. Somerset, 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"). Attachment Club Transfer Communication (opens a PDF). 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. Executive 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. You have been warned. 386] regulates the liquidation of a company registered in Malta. timeshares to hundreds of British holidaymakers in 2019. Latest TimeshareTaskForce Customer Testimonial, Request for Erasure/Remove Consent/Subject Access Request/Update Data. . Call us on 01872 308699 for more information. All content on this website is dependent on the opinion of the author. 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. This website uses cookies to improve your experience while you navigate through the website. Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. Kindly check your inbox after sign-up to confirm subscription. There have also been claims that false representations were also made about the loans financial impact. Turning to the website, it was only registered on16th September 2020and is set to expire on16th September 2021. 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. So far we have a nonexistent company that was formed less than two months ago, this is not looking good. Response to our request for clarification below: At the current stage, the members do not have to contact the liquidators or complete the claim form. KwikChex will be pleased to help evaluate any such approaches. On 28 April 2020, Mr Wesley Edwards of CVR Global (B.V.I.) 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. H eavy storms in the Mediterranean were the eventual undoing of Malta . As mentioned in the FAQs, we are working diligently to transfer the role of club manager so that the club can continue and members remain able to utilise their timeshare holiday entitlement. The customer story you selected is no longer available. On 28 April 2020, Mr Wesley Edwards of CVR Global (B.V.I.) 01908 881058 info@timeshareconsumerassociation.org.uk Donate, timeshare consumer association friendly timeshare advice since 1997. 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 . When we do this, YouTube may store cookies in order to track how people are watching videos on their site. 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 . In the interim, should you have any queries pertaining to the liquidation process and/or the appointment of the new Club manager, please contact azureresortsliquidation@cvr.global. The Times revealed last yearthat the Financial Conduct Authority (FCA) was investigating loans made to timeshare buyers at resorts in Malta which had been part-owned by Neville and Ryan Giggs,. What is the typical timeframe for completion of liquidation procedures? Complaints Policy This website uses cookies to improve your experience. 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. Website Terms & Conditions Timeshare Consumer Association Limited is registered as a data controller with the information commissioners office (ico) under registration number: ZA765267. Be aware that disabling cookies will affect the functionality of this and many other websites that you visit. Timeshare Group in Liquidation Hits the News Again. The full statement can be read HERE. August 11, 2022 09:19 Tista' taqra dan l-artiklu bil-Malti hawn The government has established advanced plans to dissolve Air Malta later this year and transfer its few remaining profitable assets to a new airline, similar to what has already been done in Italy with Alitalia. 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. Copyright MediaToday Co. 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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. Copyright 2023 Timeshare Termination Team. 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. Necessary cookies are absolutely essential for the website to function properly. Alex Lawson from Alvarez and Marsal (Cayman Islands) has appointed himself as an administrator/director to oversee the . The Azure Window during happier times. You can find out more about which cookies we are using or switch them off in settings. Kind Regards or We also use third-party cookies that help us analyze and understand how you use this website. 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. KwikChex will provide free information assistance to any consumers affected by such matters. 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.
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