Azure Malta | LinkedIn Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. IHI owns 50% of the Golden Sands Resort and the Azure Group. 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. Azure Scammers Exposed - Timeshare Consumer Association It collapsed into the sea on March 8th. Mon 09:00 - 17:00. August 20, 2022. . You can revoke your consent any time using the Revoke consent button. This has been The UKs financial conduct watchdog is investigating 54 million in loans made to Golden Sands timeshare buyers. Barclays ordered to repay millions on timeshare loans in Malta All content on this website is dependent on the opinion of the author. Matthew Vella is executive editor at MaltaToday. All of these matters are likely to be complex and take some time and KwikChex will do all possible to provide updates. Free shipping for many products! Timeshare Group in Liquidation Hits the News Again. 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. Golden Sands timeshare loans investigated over mis-selling - MaltaToday Do your own due diligence, check the registration of the company, if there is no registration then it is not a legitimate company. Several owner / members at Azure Malta the timeshare clubs Island Residence Club, The Heavenly Collection and Azure Ultra, have been asking KwikChex for further clarification as the information first released regarding insolvency processes was difficult to understand. It has been brought to our attention that Azure Services Ltd have filed for liquidation. 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. 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. As previously advised, the Azure companies and the Club are separate entities. 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. All shareholders have reaffirmed their commitment towards the future of the Golden Sands Resort as a high-end luxury destination. Upon a search of UK Companies House and the Spanish equivalent we can find no sign of the existence of this company. 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. timeshares to hundreds of British holidaymakers in 2019. This means that every time you visit this website you will need to enable or disable cookies again. Original . The fact that a foreign company has a branch in Malta does not, of itself, constitute residence. 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. On 28 April 2020, Mr Wesley Edwards of CVR Global (B.V.I.) Click here to view a copy of the PDF of decision made in August 2018 by Judge Timothy Herrington. EXCLUSIVE: Plan in place to dissolve the national airline, Air Malta The full statement can be read HERE. 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. 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. In fact, the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. We again advise members / owners to be extremely cautious if approached regarding claims said to be connected to the liquidation process. There have also been claims that false representations were also made about the loans financial impact. 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. PDF Chapter 13: Taxation of Companies and Shareholders - PwC We use cookies to ensure that we give you the best experience on our website. Complaints Policy However, it later discovered the staff were employed by the unlicensed Azure Services Limited. The company ran into financial trouble towards the end of 2019. TA1 4EB, (Please contact us by web form, email or phone for quickest response), Registered in the UK 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. 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. Maintence Fee Calculator | Privacy Policy | Terms & Conditions | Cookies Policy. Watch: The Azure Window is lost and gone forever - Times of Malta Kind Regards Members' Voluntary Winding Up - Malta Business Registry 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? 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. The statement may be viewed by following this link: https://www.corinthiagroup.com/wp-content/uploads/2020/05/Company-Announcement.pdf. KwikChex has been informed that Azure Services Ltd. of Malta has entered into liquidation proceedings. 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. Purchase the Azure plan for customers and access the latest Azure services Well this is a bit difficult to deduce. Azure Services Ltd did not. On 7th May 2020 it was announced that Azure Resorts Limited had entered liquidation. Insiide Timeshare has received news that Azure Services Ltd, the sales and marketing arm for Radisson Blu and Golden Sands resorts in Malta have filed for liquidation. Barclays is to fully compensate almost 1,500 customers who were improperly sold timeshare loans by Azure in Malta worth a total of 48m. The winding up decision was taken through a resolution approved by the shareholders of Azure Services Ltd on April 27. azure malta liquidation - casessss.com By Cameron Macphail 8 March 2017 4:15pm. Azure Services Ltd. - Timeshare Watchdog International | Facebook The company hit the news after it faced allegations of misselling timeshares to hundreds of British holidaymakers in 2019. Sources have claimed that the company also applied for and received the COVID-19 supplement for the April salary. Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. I am responsible for the creation, maintenance, and distribution of all Executive Level monthly Management Accounts. Azure Services Ltd was set up in 2003 when the resort, which belonged to Island Hotels Group, had opened its doors. 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. Products Databases. university 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. The Azure Window during happier times. This website uses cookies to improve your experience while you navigate through the website. 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. Azure, Golden Sands time share company - Malta Message Board - Tripadvisor Azure Resorts Limited has entered into liquidation procedures, Anfi Emerald Club resort has become a hotel on call for emergency situations, Anfi begins the easing of its own lockdown with the reopening of its luxury villas in Tauro, https://rdo.org/industry-updates/new-club-manager-appointed-for-azure-resorts/, Harry Taylor, former chief executive of TATOC, has died, Interval International co-sponsors development program for Caribbean Hospitality and Tourism professionals, Interval International hosts 29th Annual Toy Fest to benefit the children of South Miami.
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