It has been brought to our attention that Azure Services Ltd have filed for liquidation. We refer you to an article published on the website of Inside Timeshare yesterday (05/05/2020), which we reproduce below:
“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. Once again it is Alex Lawson of Alvarez and Marsal of the Cayman Islands who has been appointed administrator, as we know he and his company are behind the mass liquidations of all of the companies owned by the late Robert “Bob” Trotta. 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.
https://insidetimeshare.com/?s=exclusive+breaking+news
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. Then in February of this year, we reported on the new product being launched, Azure X and Azure XP which replaced the discredited “investment” weeks previously sold.
https://insidetimeshare.com/timeshare-sales-end-at-golden-sands-malta/
https://insidetimeshare.com/azure-x-xp-what-is-it/
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.
Mediterranean Overseas Holdings Ltd is also another company owned by the late Bob Trotta under the parent company the Limora Group.
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 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. This certainly does not leave people with much time to organise, could it be that the whole point is to rush the liquidation through?
The question that Inside Timeshare asks now is who are the “creditors?” Are they all those consumers who purchased the “investment weeks” and never received the rentals or the sales they were promised, or is it just another way of avoiding the possibility of legal action in the Maltese courts against Azure, just like Silverpoint in Tenerife?”
Naturally we at TCA will be following developments closely and will report our findings as and when developments take place. 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. The statement may be viewed by following this link:
https://www.corinthiagroup.com/wp-content/uploads/2020/05/Company-Announcement.pdf
This is not the first time that Azure has hit the headlines for all the wrong reasons:
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. Should you have any questions regarding Azure or any other timeshare, please feel free to contact us and we shall do our best to address your concerns.
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