Company No. For all the latest news and views from RDO. Registered Office: Artemis House, 4a Bramley Road, Mount Farm, Milton Keynes, MK1 1PT. 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. What should a secular society really look like? The company hit the news after it faced allegations of misselling timeshares to hundreds of British holidaymakers in 2019. The question that Inside Timeshare asks now is who are the creditors? Are they all those consumers who purchased the investment weeks and never received the rentals or the sales they were promised, or is it just another way of avoiding the possibility of legal action in the Maltese courts against Azure, just like Silverpoint in Tenerife?. 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. All content on this website is dependent on the opinion of the author. Telephoning from outside the UK: 00 44 1823 510625. Complaints Policy 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,. Timeshare Consumer Association Limited is registered as a data controller with the information commissioners office (ico) under registration number: ZA765267. Huntingdon, England, United Kingdom. Executive offers FT membership to read for free. The decision resulted in the loss of around 80 jobs. VCSL in turn has established a company in Malta called VCMS Co Limited, which will employ local staff to service the clubs members. The Azure Window has collapsed and it is not just the top part which has fallen off - even the stacks have gone. 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. We use cookies to track the number of opens and clicks on both newsletters RDO Weekly News and RDO Insider. On the contact page there is the usual form to fill in and submit. Attachment Club Transfer Communication (opens a PDF). 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. The Financial Times said that the customers were charged in excess of 9%. or Azure Services Limited was an MFSA registered company owned by Corinthia and Mediterranean Overseas Holdings Limited. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. We use Barclays is to fully compensate almost 1,500 customers who were improperly sold timeshare loans by Azure in Malta worth a total of 48m. 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. 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). Further updates are expected to be available next week. Modern Slavery Statement, Registered with Data Protection Act, Registration Number: Z2749323. However, it later discovered the staff were employed by the unlicensed Azure Services Limited. Naturally we at TCA will be following developments closely and will report our findings as and when developments take place. MediaToday is an independent media house based in Malta. A liquidator is an officer of the court, his appointment is ratified by creditors. They reaffirmed that the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. 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. Re: Golden Sands, Mellieha. 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. 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 . 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 . Matthew Vella is executive editor at MaltaToday. Video taken by bystanders . Timeshare Consumer Association Limited is registered as a data controller with the information commissioners office (ico) under registration number: ZA765267. Customer Stories. 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. The full statement can be read HERE. Azure, Golden Sands time share company 2 years ago Save For people with time share weeks at Golden Sands hotel, be aware Azure, the operator, has gone into liquidation. 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. You can still enjoy your subscription until the end of your current billing period. 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. Limited and Mr Barry Lynch of Alvarez & Marsal Cayman Islands Limited, were appointed Joint Liquidators of Azure Resorts Limited and Azure XP Limited. So who are Themis? In fact, the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. 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. Last December, it announced it would no longer sell timeshare and holiday clubs but focus on its existing members. 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. Creditors have been notified that on May 11 a telephone conference would be. We'll assume you're ok with this, but you can opt-out if you wish. The remaining 50% is owned by international investors specializing in timeshare resort operations. Both Azure Resorts Ltd and Azure Services Ltd began liquidation proceedings in April 2020. All Rights Reserved. Meet our staff and find out what it's like to work for Azure. 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. Necessary cookies are absolutely essential for the website to function properly. We use cookies to ensure that we give you the best experience on our website. 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 . The other half is owned by a group of international investors specialising in timeshare resort operations. 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? 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. 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. Prime Minister Joseph Muscat said the news was "heartbreaking". For cost savings, you can change your plan at any time online in the Settings & Account section. This category only includes cookies that ensures basic functionalities and security features of the website. It is mandatory to procure user consent prior to running these cookies on your website. 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. These cookies do not store any personal information. Reference to the restructuring process was made in a company announcement issued on May 5 by International Hotel Investments, which incorporates the Corinthia Group. Maintence Fee Calculator | Privacy Policy | Terms & Conditions | Cookies Policy. Meanwhile, any action taken with respect to the curtailment of employees will be made in line with all local regulations. Be aware that disabling cookies will affect the functionality of this and many other websites that you visit. 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. 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. It first hit the news in 2019 for misselling timeshares to hundreds of British holidaymakers in 2019. We recently published a revised version of our. It was set up by the Island Hotels Group in 2003, which marketed timeshares at the Radisson Blu Golden Sands. Compare Standard and Premium Digital here. Copyright 2023 Times of Malta. 386] regulates the liquidation of a company registered in Malta. Azure Services Ltd. Malta Liquidation 07/05/20. 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. Cart; chantelle jamieson married You may change or cancel your subscription or trial at any time online. 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. 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! I know there is no such thing as a freelunchbut it was such a good offer. 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. This website uses cookies to improve your experience while you navigate through the website. The first creditors meetings have taken place with regard to the various Azurecompanies. by are eddie and venom in a relationship / Friday, 24 June 2022 / Published in ansible yum check if package is installed. 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 company has always adhered to applicable regulations and is fully authorized in regards to all its business activities including consumer finance.. That is to say, it was all planned to save as much cash as possible for the " Trotta " heirs. who were victoria winters parents. August 20, 2022. . 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? Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. 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. Here is a reproduction of an email received from one concerned Azure owner: Had a call from these, and others have also. Under Azure plan, select Add to cart. You can revoke your consent any time on our Privacy Policy page. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. A voluntary winding up typically takes between 12 and 16 months from the date of the decision to wind up the company. Simply log into Settings & Account and select "Cancel" on the right-hand side. The company ran into financial trouble towards the end of 2019. All rights reserved. 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. Azure Services Ltd was set up in 2003 when the resort, which belonged to Island Hotels Group, had opened its doors. 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. azure malta liquidation. 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. The window is a towering rock formation reaching 328 feet (100 meters) high with a . KwikChex will provide free information assistance to any consumers affected by such matters. Azure Services Limited is an MFSA registered company currently owned by Corinthia and Mediterranean Overseas Holdings Limited. A vote on the potential nominee for the office of the liquidator will also be taken. Turning to the website, it was only registered on16th September 2020and is set to expire on16th September 2021. Rizzo, Farrugia & Co. (Stockbrokers) Ltd. 2023. Malta (356) 2247 6100 info@premium.com.mt. "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. We will be contacting those impacted to apologise for what has happened, and to let them know how we will be putting this right.. Creditors have been notified that on May 11 a telephone conference would be held to appoint Richard Galea Debono as liquidator. But opting out of some of these cookies may have an effect on your browsing experience. KwikChex has been in contact with a number of parties, including trustees and will continue to provide information to the best of our ability. Well this is a bit difficult to deduce. LTD. (Singapore, 8 Feb 2019 - ) All content on this website is dependent on the opinion of the author. These cookies do not store any personal information. As usual we advise that if you didnt instigate the contact from them, then it should put you on alert. So effectively, its business as usual, but not according to Themis Resolution. 07376192, Data Protection Policy 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. 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 Azure Window, a natural arch off the coast of Gozo in Malta, collapsed into the sea on March 8. 10am 4pm Mon-Fri (GMT) https://insidetimeshare.com/timeshare-sales-end-at-golden-sands-malta/, https://insidetimeshare.com/azure-x-xp-what-is-it/. You also have the option to opt-out of these cookies. 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. Call us on 01872 308699 for more information. Nov 2021 - Present1 year 5 months. 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. 2,275 sales | 4.5 out of 5 stars. 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. This website uses cookies to improve your experience. The Azure Window during happier times. The full statement can be read HERE. Click here to browse all stories. 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. H eavy storms in the Mediterranean were the eventual undoing of Malta . organisation This boot hits your feet like those well worn boots you default to. Upon a search of UK Companies House and the Spanish equivalent we can find no sign of the existence of this company. Independent journalism costs money. Around 80 people lost their jobs right before Christmas.
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