Please find attached a letter we have been asked to forward to you by the joint liquidators. Inside Timeshare published the 6 part series on the liquidations of Limora Investments Ltd and other companies in the group and the reasons behind them, see the link to all the articles below. KwikChex will provide free information assistance to any consumers affected by such matters. 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. Search. There have also been claims that false representations were also made about the loans financial impact. According to the Financial Conduct Authority of the UK, buyers claimed that the footballers links with the hotel were highlighted by sales staff who brokered 1,444 loans with Barclays bank - the Times of London reported. What is the typical timeframe for completion of liquidation procedures? 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. 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. That is to say, it was all planned to save as much cash as possible for the " Trotta " heirs. 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. But opting out of some of these cookies may have an effect on your browsing experience. by Matthew Vella. who were victoria winters parents. Rizzo, Farrugia & Co. (Stockbrokers) Ltd. 2023. 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. Re: Golden Sands, Mellieha. In 2017 Malta switched its primary source of energy from heavy fuel oil to natural gas. 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. Website Terms & Conditions We also use third-party cookies that help us analyze and understand how you use this website. 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 . 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. Complaints Policy Cart; chantelle jamieson married Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. We queried this with the liquidators, who have replied advising that they have now updated these members. Inside Timeshare has received many enquiries as to what is going to happen to members of the "club"? For all the latest news and views from RDO. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2018 Resort Development Organisation, Company No. 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. Dwejra and The Azure Window, Gozo's pride Concentration of natural monuments. It was set up by the Island Hotels Group in 2003, which marketed timeshares at the Radisson Blu Golden Sands. Neville, 43, resigned as a director of Island Hotels in September 2015 when the company was merged with IHI plc. 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 "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 remaining 50% is owned by international investors specializing in timeshare resort operations. 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 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. You can prevent the setting of cookies by adjusting the settings on your browser (see your browser Help for how to do this). So far we have a nonexistent company that was formed less than two months ago, this is not looking good. offers FT membership to read for free. If you disable this cookie, we will not be able to save your preferences. A liquidator is an officer of the court, his appointment is ratified by creditors. 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,. 2020 KwikChex Ltd. 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. Meanwhile, any action taken with respect to the curtailment of employees will be made in line with all local regulations. 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. On the contact page there is the usual form to fill in and submit. By browsing this site you are giving your consent for us to set cookies. The customer story you selected is no longer available. We are using cookies to give you the best experience on our website. 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. Keeping this cookie enabled helps us to improve our website. 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. We will be contacting those impacted to apologise for what has happened, and to let them know how we will be putting this right.. 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. 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"). 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You can revoke your consent any time using the Revoke consent button. Malta's famous Azure Window rock arch has collapsed into the sea after heavy storms. download the update directly (PDF download). From the copy email that we received, Themis are obviously mounting a cold calling campaign from stolen Azure client data. Prime Minister Joseph Muscat said the news was "heartbreaking". Do your own due diligence, check the registration of the company, if there is no registration then it is not a legitimate company. The first creditors meetings have taken place with regard to the various Azurecompanies. What should a secular society really look like? The company, Azure Services Limited, markets timeshare at the resorts formerly owned by Island Hotels and Winston Zahra, of . Click here to view the PDF notification that has been issued concerning this. 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. 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. Well this is a bit difficult to deduce. Thu, May 12 - Thu, May 26 Wolverine Import . 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. 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. 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. We use cookies to ensure that we give you the best experience on our website. It was sold to Corinthia in 2015. 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. Caroline Hodgson/AP An iconic Maltese natural rock arch collapsed into the sea Wednesday. KwikChex will continue to provide updates. Barclays told the tribunal that in 2017 it received only 63 mis-selling complaints of timeshare loans, two of which it upheld. Radisson Blu Golden Sands. Add to cart . 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. As usual we advise that if you didnt instigate the contact from them, then it should put you on alert. Tue 09:00 - 17:00. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. Simply log into Settings & Account and select "Cancel" on the right-hand side. In the meantime, we strongly recommend that those likely to be affected creditors and timeshare owners, register their interest as per the notice by sending an email to the following address rrohan@alvarezandmarsal.comAs there is an initial creditors meeting (by telephone conference call) at 17.00 hrs Central European Time on Monday 11 May, you may wish to do this as a matter of urgency. It was set up by the Island Hotels Group in 2003, which marketed timeshares at the Radisson Blu Golden Sands. KwikChex will be pleased to help evaluate any such approaches. Independent journalism costs money. I maintain all support systems and hierarchies that our reporting is based upon. All content on this website is dependent on the opinion of the author. So who are Themis? personalising content and ads, providing social media features and to Declaration of Solvency. This is one of the points on the agenda for the meeting via telephone conference call on 11 May 2020 which creditors will be voting on. 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. We'll assume you're ok with this, but you can opt-out if you wish. Copyright 2023 Timeshare Termination Team. This website uses cookies to improve your experience while you navigate through the website. 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. All of these matters are likely to be complex and take some time and KwikChex will do all possible to provide updates. KwikChex has been in contact with a number of parties, including trustees and will continue to provide information to the best of our ability. The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. A liquidator was chosen in May 2020. I am responsible for the creation, maintenance, and distribution of all Executive Level monthly Management Accounts. We can honestly say without fear of contradiction that this is another scam in the making. These cookies do not store any personal information. 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. Databases. Kindly check your inbox after sign-up to confirm subscription. A liquidator is an officer of the court, his appointment is ratified by creditors. We recently published a revised version of our. Lovin Malta has reached out to Azure Services Limited for a comment. Barclays Bank has been forced to compensate 1,500 customers who were missold timeshare loans worth up to 48 million by Malta's Azure Services, a Corinthia-owned tourism and timeshare company at the Radisson Blu Golden Sands. Major shareholder 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 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. 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. This boot hits your feet like those well worn boots you default to. 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? Azure Services Ltd. Malta Liquidation 07/05/20. university Meanwhile, creditors of Azure Services Ltd were notified about the agenda of next weeks meeting in a letter signed by directors Joseph Fenech and Alexander William Lawson.
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