MediaToday is an independent media house based in Malta. The full statement can be read HERE. RDO members can log in to rdo.org, and when they do we use cookies to track that they have logged in. KwikChex will provide free information assistance to any consumers affected by such matters. Copyright 2023 Times of Malta. Google Chrome For cost savings, you can change your plan at any time online in the Settings & Account section. Facebook; The fact that a foreign company has a branch in Malta does not, of itself, constitute residence. 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. 386] regulates the liquidation of a company registered in Malta. 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. Crowdfunding Campaign To Fund Legal Challenge To DB Group Project Collects 18,000 In Just Over A Week, Get Nominating Now! VCMS Malta is dedicated solely and exclusively to vacation club management services. Please enable Strictly Necessary Cookies first so that we can save your preferences! 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. The Financial Times said that the customers were charged in excess of 9%. We use 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. 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. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It collapsed on Wednesday morning after being battered by a storm. 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 winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. Please ensure you have filled out all required fields, Timeshare Termination Team | Timeshare | Timeshare Exit | Timeshare Claims. As usual we advise that if you didnt instigate the contact from them, then it should put you on alert. Cookies are small files that are sent back and forth with web pages, which can be used to identify that you have previously visited a site or to store small bits of information locally with you. 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. Lovin Malta has spoken to previous customers of the timeshare operation who regularly described loans with generally high-interest rates. Martin Brylka 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. 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. Malta (356) 2247 6100 info@premium.com.mt. Barclays had a contract with Azure Resorts Limited, which was authorised by the UK Financial Conduct Authority for credit brokering. 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. For the sake of clarity, please see a copy of the response we received which also includes a link to a dedicated information website. 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. 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. All shareholders have reaffirmed their commitment towards the future of the Golden Sands Resort as a high-end luxury destination. 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. On 7th May 2020 it was announced that Azure Resorts Limited had entered liquidation. 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. 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. 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. 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 . Photo: GettySub. Latest TimeshareTaskForce Customer Testimonial, Request for Erasure/Remove Consent/Subject Access Request/Update Data. More alarm bells ring when it is noticed that no contact address is quoted anywhere on the website, in fact the contact us page does not appear to have been completed by their web designer as the address is left blank, see screen shot below: Oh dear, things are going from bad to worse and thus far there is a trust factor of0. 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. We use cookies to track the number of opens and clicks on both newsletters RDO Weekly News and RDO Insider. 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. Lovin Malta has reached out to Azure Services Limited for a comment. journalists in 50+ countries covering politics, business, innovation, trends and more. You can find out more about which cookies we are using or switch them off in settings. Login below for access to exclusive content. 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. 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? 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,. Meanwhile, any action taken with respect to the curtailment of employees will be made in line with all local regulations. Nevertheless, the position that we are adopting on behalf of our clients is that our clients are . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2018 Resort Development Organisation, Company No. Here we go again. 12-14 The Crescent, Be aware that disabling cookies will affect the functionality of this and many other websites that you visit. 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. KwikChex will be pleased to help evaluate any such approaches. and other data for a number of reasons, such as keeping FT Sites reliable and secure, 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. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. 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. What should a secular society really look like? On 28 April 2020, Mr Wesley Edwards of CVR Global (B.V.I.) 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. This boot hits your feet like those well worn boots you default to. We also use third-party cookies that help us analyze and understand how you use this website. Alternatively, fill in your details and we will call back. 01908 881058 info@timeshareconsumerassociation.org.uk Donate, timeshare consumer association friendly timeshare advice since 1997. All Rights Reserved. The liquidator will also be tasked in paying any wages due to employees. Azure Malta | 2,050 followers on LinkedIn. This certainly does not leave people with much time to organise, could it be that the whole point is to rush the liquidation through? If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. I maintain all support systems and hierarchies that our reporting is based upon. 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. Databases. 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. British multinational banking giant Barclays will pay almost 181 million (215 million) in compensation to around 6,000 customers who were improperly sold timeshares in Malta via the now-defunct Azure Services, according to The Telegraph. KwikChex will be pleased to respond to any owners making checks in this regard. Independent journalism costs money. If they know more about you than they should, thats also not a good sign. He said: I cant believe I fell for it. 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. by TVM Newsroom August 20, 2022. by Matthew Vella. We also use third-party cookies that help us analyze and understand how you use this website. Anglian Water Services. 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 . Liquidation lot - 750,000 plus preset crystals 2.5mm CrystalQueenDesigns Following Follow. Azure Services Ltd Malta Liquidation. This category only includes cookies that ensures basic functionalities and security features of the website. Click here to view a copy of the PDF of decision made in August 2018 by Judge Timothy Herrington. Maintence Fee Calculator | Privacy Policy | Terms & Conditions | Cookies Policy. 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"). Well this is a bit difficult to deduce. The customer story you selected is no longer available. The window is a towering rock formation reaching 328 feet (100 meters) high with a . Nov 2021 - Present1 year 5 months. 3D-printed Demonscale elements spread farther across the surface let you control the ball with every part of your foot. Taunton, We support credit card, debit card and PayPal payments. Mon 09:00 - 17:00. Do your own due diligence, check the registration of the company, if there is no registration then it is not a legitimate company. This change was brought about by the recent construction of a 215 megawatt combined-cycle gas turbine (CCGT . 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. 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). 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. The Azure Window, a natural arch off the coast of Gozo in Malta, collapsed into the sea on March 8. Compare Standard and Premium Digital here. 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. All of these matters are likely to be complex and take some time and KwikChex will do all possible to provide updates. 2,275 sales | 4.5 out of 5 stars. What is the typical timeframe for completion of liquidation procedures? Customer Stories. This Declaration of Solvency is a very important statement in which the majority of the Directors declare that they have made a full . 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. Video taken by bystanders . Excluding bank holidays, Visit KwikChex Website I also produce all senior ad-hoc reports. Sometimes we include content from other sites on our site, for example, YouTube videos. The first creditors meetings have taken place with regard to the various Azurecompanies. The spectacular Azure Window rock arch on Malta's island of Gozo collapsed into the sea in 2017. 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. | 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. 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Somerset, It has been brought to our attention that Azure Services Ltd have filed for liquidation. When a company is deemed to be solvent, the liquidation process would typically involve a members' voluntary winding up which is triggered by the shareholders of the company. 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. You can revoke your consent any time on our Privacy Policy page. 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 .