07-05-2020, 01:31 PM. analyse how our Sites are used. I cant afford the loan and have negotiated with Barclays to reduce therepaymentsbut I still owe 15,000.. 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. What should a secular society really look like? You have been warned. personalising content and ads, providing social media features and to Standard Digital includes access to a wealth of global news, analysis and expert opinion. Kind Regards 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. 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 . Azure Golden Sands is a 5-star Mediterranean resort in Malta. 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. But Azure was found to have operated without authorisation under British law to act as financial broker between April 2014 and April 2016. This website uses cookies to improve your experience while you navigate through the website. This has been According to its website, Azure Services Ltd, which employed 180 staff, had more than 5,500 members. 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 During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. We recognise that we did not provide the right level of service for some customers who bought timeshare loans, Barclays said. 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. TA1 4EB, (Please contact us by web form, email or phone for quickest response), Registered in the UK 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 . 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. Do your own due diligence, check the registration of the company, if there is no registration then it is not a legitimate company. Declaration of Solvency. It was set up by the Island Hotels Group in 2003. Customise . by Matthew Vella. Barclays told the tribunal that in 2017 it received only 63 mis-selling complaints of timeshare loans, two of which it upheld. 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. KwikChex will continue to provide updates. We'll assume you're ok with this, but you can opt-out if you wish. Under the Act, a company may be dissolved either on a . 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. The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. 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. Facebook Twitter YouTube Pinterest. 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. 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. Azure Services Ltd was set up in 2003 when the resort, which belonged to Island Hotels Group, had opened its doors. Cart; chantelle jamieson married 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. 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. Established to ensure that Members at the Radisson Blu Resort & Spa Golden Sands, Malta continue to enjoy all the benefits and entitlements at their home resort in Malta and also beyond the shores of our Mediterranean island. As usual we advise that if you didnt instigate the contact from them, then it should put you on alert. We are using cookies to give you the best experience on our website. Thu, May 12 - Thu, May 26 Wolverine Import . 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If you have any questions on this letter please contact the liquidators at the address provided in the letter. 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. Two geological wonders sit side-by-side on the Maltese island of Gozo: the Azure Window and the Blue Hole. Attachment Club Transfer Communication (opens a PDF). Copyright 2023 Times of Malta. 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). KwikChex has been in contact with the liquidators, who continue to reassure that the benefits of timeshare ownership will remain. Company No. 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. Facebook; Video taken by bystanders . The first creditors meetings have taken place with regard to the various Azurecompanies. Hours. It has been brought to our attention that Azure Services Ltd have filed for liquidation. Tue 09:00 - 17:00. We use Support Times of Malta for the price of a coffee. When we do this, YouTube may store cookies in order to track how people are watching videos on their site. Elon Musks Twitter is dying a slow and tedious death. Search. 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 . 109519. It was set up by the Island Hotels Group in 2003, which marketed timeshares at the Radisson Blu Golden Sands. 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 liquidator will also be tasked in paying any wages due to employees. On 7th May 2020 it was announced that Azure Resorts Limited had entered liquidation. KwikChex will provide free information assistance to any consumers affected by such matters. I cant see this company registered at companies house and their website looks amateurish. The Azure Group carried out the sales function of the timeshare operation at the Golden Sands Resort for the past 17 years. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. 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. Upon a search of UK Companies House and the Spanish equivalent we can find no sign of the existence of this company. If you want to know more about what cookies are and how to control them, aboutcookies.org is a great resource. Malta's famous Azure Window rock arch has collapsed into the sea after heavy storms. It was sold to Corinthia in 2015. Independent journalism costs money. This is an ongoing review process by the UK Financial Conduct Authority (FCA) and will continue. This Declaration of Solvency is a very important statement in which the majority of the Directors declare that they have made a full . Caroline Hodgson/AP An iconic Maltese natural rock arch collapsed into the sea Wednesday. 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. For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk, Timeshare Consumer Association is a company limited by guarantee registered in England under number 12662338. 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. 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 category only includes cookies that ensures basic functionalities and security features of the website. KwikChex will be pleased to respond to any owners making checks in this regard. The company, Azure Services Limited, markets timeshare at the resorts formerly owned by Island Hotels and Winston Zahra, of . A vote on the potential nominee for the office of the liquidator will also be taken. 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. The company ran into financial trouble towards the end of 2019. But is it bad? The other half is owned by a group of international investors specialising in timeshare resort operations. 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. When I gothomeI thought, what the hell am I doing?Rebbeckwas left to care for his two children after his wife died in 2016. These cookies will be stored in your browser only with your consent. Complex issues have arisen related to administration and insolvency of a small number of timeshare businesses. The tourism and timeshare company centred on the Radisson Blu Golden Sands filed for liquidation in May 2020. 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. The Companies Act [CAP. You can revoke your consent any time on our Privacy Policy page. Be aware that disabling cookies will affect the functionality of this and many other websites that you visit. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Somerset, The Azure Group initially introduced the Island Residence Club in 2003 and after establishing the Club as one of Europe's most exclusive Vacation Owne See more 34,952 people like this 34,480 people follow this http://www.azuregoldensands.com/ +356 2356 1000 info@azure.com.mt You may change or cancel your subscription or trial at any time online. All shareholders have reaffirmed their commitment towards the future of the Golden Sands Resort as a high-end luxury destination. In 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. 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 . 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. Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. We use cookies to ensure that we give you the best experience on our website. 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! 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. I am responsible for the creation, maintenance, and distribution of all Executive Level monthly Management Accounts. A voluntary winding up typically takes between 12 and 16 months from the date of the decision to wind up the company. The Azure Window during happier times. We have been advised by an Azure consumer of an important update from the Joint Liquidators. Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. Telephoning from outside the UK: 00 44 1823 510625. On the contact page there is the usual form to fill in and submit. 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. Cookie Policy If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Sometimes we include content from other sites on our site, for example, YouTube videos. 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. Turning to the website, it was only registered on16th September 2020and is set to expire on16th September 2021. Under Azure plan, select Add to cart. You also have the option to opt-out of these cookies. 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. A vote on the potential nominee for the office of the liquidator will also be taken. Azure Services Ltd 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. Liquidation lot - 750,000 plus preset crystals 2.5mm CrystalQueenDesigns Following Follow. 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. Please know what you are buying these are not beads, These are crystal stones set into a brass setting. 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. university The club constitutions do not require the club manager to perform this role and you should therefore discuss this matter with the new club manager if appointed.If my week was available for rental, what happens now?The rental program was operated by the Company in its role as club manager to assist members in renting entitlements they did not wish to utilise in any given year.