A vote on the potential nominee for the office of the liquidator will also be taken. 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. 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. Mozilla Firefox. Customers had complained that the terms of the loans were not explained to them, and that proper credit checks were not carried out and that they were pressured into signing deals. 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. 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. The statement may be viewed by following this link: https://www.corinthiagroup.com/wp-content/uploads/2020/05/Company-Announcement.pdf. 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. KwikChex continues to urge caution regarding any approaches to timeshare owners by businesses offering compensation services and will be pleased to help owners evaluate any such approaches. Azure Services Ltd did not. Martin Brylka 386] regulates the liquidation of a company registered in Malta. On 7th May 2020 it was announced that Azure Resorts Limited had entered liquidation. The first creditors meetings have taken place with regard to the various Azurecompanies. 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. Response to our request for clarification below: At the current stage, the members do not have to contact the liquidators or complete the claim form. 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. But Azure was found to have operated without authorisation under British law to act as financial broker between April 2014 and April 2016. Malta's Famous Azure Window Collapses in Storm - YouTube and other data for a number of reasons, such as keeping FT Sites reliable and secure, Start the Week: New Management Company For Azure Malta In fact, the Golden Sands Resort will fully honour all timeshare commitments arising from obligations entered into with existing members. Company liquidation Malta | Dissolution | Malta Company PREMIUM Video taken by bystanders . Registered Office: Artemis House, 4a Bramley Road, Mount Farm, Milton Keynes, MK1 1PT. azure malta liquidation - homeschooling.bo Click here to view a copy of the PDF of decision made in August 2018 by Judge Timothy Herrington. Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company. Two geological wonders sit side-by-side on the Maltese island of Gozo: the Azure Window and the Blue Hole. This has been 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 We have seen many examples of attempts to defraud consumers in similar circumstances. Copyright 2023 Times of Malta. 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. The decision resulted in the loss of around 80 jobs. Timeshare Watchdog were informed that Azure Services Ltd. of Malta entered into liquidation proceedings. 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. Add to cart . 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. Latest TimeshareTaskForce Customer Testimonial, Request for Erasure/Remove Consent/Subject Access Request/Update Data. The company has always adhered to applicable regulations and is fully authorized in regards to all its business activities including consumer finance.. The procedure for liquidation of companies - Corrieri Cilia 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? 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 company ran into financial trouble towards the end of 2019. In November 2020 the bank was told by the Financial Conduct Authority to repay interest charged on loans issued between April 2014 and April 2016 by the timeshare operator Azure Services (now in liquidation). 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. Request for Erasure/Remove Consent/Subject Access Request/Update Data For all the latest news and views from RDO. Support rapid growth and innovate faster with secure, enterprise-grade, and fully managed database services . You have been warned. However, it later discovered the staff were employed by the unlicensed Azure Services Limited. Registered Office: Artemis House, 4a Bramley Road, Mount Farm, Milton Keynes, MK1 1PT. The PN says the PM should make the future of Air Malta clear. Barclays told to compensate customers for Malta timeshare loans 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. We use cookies on this site to enhance your user experience. Azure Services Ltd file for liquidation - Timeshare Consumer Lovin Malta has reached out to Azure Services Limited for a comment. The UK financial conduct authority is investigating 54 million of loans made to timeshare buyers at the Golden Sands resort, a Radisson Blu franchise now owned by International Hotels Investments. 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. 109519. Privacy Policy Premium access for businesses and educational institutions. A public notice revealed that Azures creditors have been invited to a meeting on 11th May which will detail the winding down of the company. 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/. Azure said it was offering its full support to Barclays in its application for a validation order. 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. In # May 2020, members of the above Clubs received notification that Azure Resorts Limited, Azure Services Limited and Azure XP Limited had gone into Liquidation. 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. Iconic 'Azure Window' rock formation in Malta collapses into the sea 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. The key difference is that before you actually place your order you need to confirm that your customer has signed the Microsoft Customer Agreement. Timeshare Group in Liquidation Hits the News Again. Do your own due diligence, check the registration of the company, if there is no registration then it is not a legitimate company. The target date for the completion of Air Malta's restructuring plan has been extended to the end of the month as the "sensitivity" of the task made it more difficult to meet the early January deadline, Timesofmalta.com reported. All of these matters are likely to be complex and take some time and KwikChex will do all possible to provide updates. "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. 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. Under the Act, a company may be dissolved either on a . 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. So far we have a nonexistent company that was formed less than two months ago, this is not looking good.