The Azure Window has collapsed and it is not just the top part which has fallen off - even the stacks have gone. by TVM Newsroom August 20, 2022. What is the typical timeframe for completion of liquidation procedures? 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. Boss the game, deliver masterful ball control, and be the apex Predator in your game. Gain a global perspective on the US and go beyond with curated news and analysis from 600 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. IHI owns 50% of the Golden Sands Resort and the Azure Group. 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). But Azure was found to have operated without authorisation under British law to act as financial broker between April 2014 and April 2016. The tourism and timeshare company centred on the Radisson Blu Golden Sands filed for liquidation in May 2020. Azure Services Ltd Malta Liquidation. Liquidation or dissolution is the procedure for concluding the affairs of a company when it decides to terminate its operations or when it cannot continue to operate by reason of its insolvency. The first creditors meetings have taken place with regard to the various Azurecompanies. cvr.global. Kind Regards For and on behalf of FNTC (UK) Ltd. Liquidation is a formal insolvency process governed by the Act the purpose of which is to protect an insolvent company's creditors. This category only includes cookies that ensures basic functionalities and security features of the website. All shareholders have reaffirmed their commitment towards the future of the Golden Sands Resort as a high-end luxury destination. 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. We also use third-party cookies that help us analyze and understand how you use this website. Most scam companies have sliver tongued sales staff at the end of the phone who purport to turn lead into gold, unfortunately, quite the reverse tend to be the case and your hard earned gold will soon be turned into lead if you entertain them. Kindly check your inbox after sign-up to confirm subscription. Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. It collapsed on Wednesday morning after being battered by a storm. A Financial Times report has revealed that Barclays has been ordered to repay the interests charges on loans issued between April 2014 and April 2016 by Azure Services, which filed for liquidation in May 2020. He said: I cant believe I fell for it. We will have more information in the coming weeks. by Matthew Vella. 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 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. 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. pillow pellow milk melk; 7th birthday party ideas for girl at home The company, Azure Services Limited, markets timeshare at the resorts formerly owned by Island Hotels and Winston Zahra, of which Manchester United footballers Gary Neville becameanon-executivedirectorsin2009 after a 1.1 million investment. A study in 2013 said that while erosion was . If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. 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. Limited and Mr Barry Lynch of Alvarez & Marsal Cayman Islands Limited. We use cookies to track the number of opens and clicks on both newsletters RDO Weekly News and RDO Insider. This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages. Check if they have a website, and more importantly check when the domain was registered, below we list the sites which may assist: UK Company check:https://find-and-update.company-information.service.gov.uk/search/companies?q, Spanish Company check:http://www.infocif.es/, Domain check:https://whois.domaintools.com/. Excluding bank holidays, Visit KwikChex Website We make use of a tool from Google called Google Analytics, which tells us about the way people are using rdo.org. 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. Call us on 01872 308699 for more information. The company ran into financial trouble towards the end of 2019. Azure Services Ltd was set up in 2003 when the resort, which belonged to Island Hotels Group, had opened its doors. The UKs financial conduct watchdog is investigating 54 million in loans made to Golden Sands timeshare buyers. It was sold to Corinthia in 2015. 10am 4pm Mon-Fri (GMT) The customer story you selected is no longer available. By Cameron Macphail 8 March 2017 4:15pm. 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. 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. RDO members can log in to rdo.org, and when they do we use cookies to track that they have logged in. We recommend using Well this is a bit difficult to deduce. journalists in 50+ countries covering politics, business, innovation, trends and more. away from the sale of timeshare products and services and focus more on traditional high-end tourism at the resort. Databases. Copyright 2023 Timeshare Termination Team. Sometimes we include content from other sites on our site, for example, YouTube videos. All content on this website is dependent on the opinion of the author. All Rights Reserved. This website uses cookies to improve your experience. 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. The Azure Window during happier times. Declaration of Solvency. You can find out more about which cookies we are using or switch them off in settings. The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. 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. Azure Malta | 2,050 followers on LinkedIn. It was sold to Corinthia in 2015. Customise . All of these matters are likely to be complex and take some time and KwikChex will do all possible to provide updates. Independent journalism costs money. The company, Azure Services Limited, markets timeshare at the resorts formerly owned by Island Hotels and Winston Zahra, of . download the update directly (PDF download). Members of the timeshare clubs managed by the Company are considered to be a stakeholder in the liquidation to the extent that the Company remains the club managerfor Island Residence Club, The Heavenly Collection and Azure Ultra. We use cookies to ensure that we give you the best experience on our website. Prime Minister Joseph Muscat said the news was "heartbreaking". 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. 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. 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. We are not sure how this scam will pan out but there will certainly be a request for a financial payment to progress whatever they are promising. 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. Company No. 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. Timeshare Termination Team is a trading style of Exit My Timeshare Group. However, it later discovered the staff were employed by the unlicensed Azure Services Limited. This means that every time you visit this website you will need to enable or disable cookies again. The Azure Window, a natural arch off the coast of Gozo in Malta, collapsed into the sea on March 8. Matthew Vella is executive editor at MaltaToday. Future of Air Malta. Malta's famous Azure Window rock arch has collapsed into the sea after heavy storms. 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. 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. 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. We queried this with the liquidators, who have replied advising that they have now updated these 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 or You can revoke your consent any time on our Privacy Policy page. Beware of Scammers, Pro Timeshare Resales exposed by Action 9. 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. The landmark Azure Window, off the Maltese island of Gozo, has collapsed into the sea during a storm. 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,. 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. KwikChex has been in contact with a number of parties, including trustees and will continue to provide information to the best of our ability. By using this site, you agree to our Privacy Policy including the use of cookies to enhance your experience. There have also been claims that false representations were also made about the loans financial impact. That is to say, it was all planned to save as much cash as possible for the " Trotta " heirs. Barclays told the tribunal that in 2017 it received only 63 mis-selling complaints of timeshare loans, two of which it upheld. 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. You have been warned. 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. As reported on our website a new club manager has been appointed https://rdo.org/industry-updates/new-club-manager-appointed-for-azure-resorts/ and you can contact the contact the club via Telephone number: 00 356 2356 1000, or E-mail address:
[email protected]. This category only includes cookies that ensures basic functionalities and security features of the website. 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. In 2017 Malta switched its primary source of energy from heavy fuel oil to natural gas. What should a secular society really look like? Telephoning from outside the UK: 00 44 1823 510625. All rights reserved. For the sake of clarity, please see a copy of the response we received which also includes a link to a dedicated information website. 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". It is mandatory to procure user consent prior to running these cookies on your website. But opting out of some of these cookies may have an effect on your browsing experience. The below update was sent to Azure consumers yesterday. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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. 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. Naturally we at TCA will be following developments closely and will report our findings as and when developments take place. https://insidetimeshare.com/timeshare-sales-end-at-golden-sands-malta/, https://insidetimeshare.com/azure-x-xp-what-is-it/. Azure said it was offering its full support to Barclays in its application for a validation order. 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. 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. The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. Free shipping for many products! 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. We are using cookies to give you the best experience on our website. Facebook; university Now a Russian architect wants to build a mirrored steel archway in its place. We again advise members / owners to be extremely cautious if approached regarding claims said to be connected to the liquidation process. In the interim, should you have any queries pertaining to the liquidation process and/or the appointment of the new Club manager, please contact
[email protected]. Copyright MediaToday Co. Ltd, Vjal ir-Rihan, San Gwann SGN 9016, Malta, Europe, 'Good to be back' - Robert Metsola returns for second visit to war-torn Ukraine, Activists take to Valletta for Global Climate Strike, Bank of Valletta lends support to 31st Malta Journalism Awards, Malta experts: AI will cost jobs, but create new ones and reduce business costs, Say goodbye to traditional business cards and hello to DOUP, The parties must prove the claims against each other, First Games of the Small States of Europe Local Council Roadshow Hosted in urrieq, Former Chelsea midfielder Christian Atsu found buried under rubble in Turkey, My essentials: Milica Lawrences cultural picks, Play inspired by Daniel Holmes, arrives at Blue Box Theatre this March, Britain's Got Talent star Alesha Dixon and comedian Graham Norton to present Eurovision in Liverpool, Were all friends with Adrian Delia, now, Nurses union planning industrial action over 'humiliating' sectorial agreement negotiations, Epic launches fresh new TV service Epic TV with Zattoo streaming provider, Formula 1 is back, and it promises to be a blockbuster season, Addressing food security and sustainability | Anton Refalo. Build in the cloud with an Azure free account Create, deploy, and manage applications across multiple clouds, on-premises, and at the edge Start free Pay as you go Popular services free for 12 months View all services + 55+ other services free always View all services + Start with USD200* Azure credit 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 . 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. https://insidetimeshare.com/?s=exclusive+breaking+news. Photo: GettySub. Neville, 43, resigned as a director of Island Hotels in September 2015 when the company was merged with IHI plc. When we do this, YouTube may store cookies in order to track how people are watching videos on their site. It is understood that the Shareholders of Azure Services Ltd passed a resolution for the company to be wound up under a creditors voluntary winding up on 27 April 2020. This. Creditors have been notified that on May 11 a telephone conference would be held to appoint Richard Galea Debono as liquidator. 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"). If you are approached, get all the details you can preferably asking those that make the approaches to put details in an email to you. Under Azure plan, select Add to cart. or Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. 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. Azure Golden Sands is a 5-star Mediterranean resort in Malta. 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 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. Please enable Strictly Necessary Cookies first so that we can save your preferences! KwikChex has been keeping Azure timeshare owners / club members up to date and we became aware that clarification regarding the Azure Ultra Club status did not seem to have been made available. 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. Azure Services Ltd. Malta Liquidation 07/05/20. Creditors will need to provide a list of what theyre owed so the company can estimate the amount of their claims. But opting out of some of these cookies may have an effect on your browsing experience. 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. Premium access for businesses and educational institutions. 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. These were formalities as such to enable the continuation of the liquidation process. 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.