It never fails to amaze us that the Resort Development Organisation seem to be living on a different planet to the rest of us. With the news posted by us on 6th May confirming that an RDO member being Azure Services Ltd has commenced proceedings to place the company into liquidation. A telephone conference call has been arranged by the now Directors Joseph Fenech and Alexander Lawson for the purposes of a meeting of creditors. Bearing in mind that Azure are not an insignificant player in the timeshare market, one would have thought that the RDO would have found this as a news worthy item. A visit to their website has no reference to this event in fact visiting their news section reveals their latest post on 5th May is about Anfi Emerald Club which is now a ‘hotel on call’ for emergency situations for professionals such as flight crews, health personnel, transport workers, professionals of the State Security Forces. Surely this can’t be the same Anfi that has been found guilty in courts of selling timeshare with illegal contracts and failing to settle compensation awarded by judges!
Ok maybe we are being unfair as RDO stands for Resort Development Organisation so they are on the side of resorts and developers and have members like Azure but what about EUROC? European Resort Owners Coalition (EUROC) set up by the RDO for “consumer protection”. A quick trip over to their website and guess what? No mention of the Azure situation! Did we really expect anything else? We guess not. With the reputation of European timeshare going down every day, why would they publish yet more grim news?
As reported in our recent article.
Alvarez and Marsal have been appointed to sort out the Azure situation and they certainly have not let the grass grow under their feet. An email has been sent by Rebecca Rohan of Alvarez and Marsal to potential creditors. We cannot be certain who these creditors are, but given the TCA has yet to receive any emails or phone calls from Azure members on this matter, we can only assume that Azure members have not received this communication and are therefore not being considered as creditors. The email had an accompanying letter which may be downloaded here.
Quite obviously it would be wrong of us to second guess the outcome of the conference call on the 11th save that an official liquidator will be agreed and appointed, beyond that we will all have to see how the situation will pan out. What is definite is that all Azure staff are likely to lose their jobs over the period of wind down and some 5,500 members may well be affected in some way or another.
Another certainty is it is very unlikely that either the RDO or EUROC will give a tinker’s cuss, much in the same way as the overwhelming concern they showed in relation to Silverpoint….NOT.
As we have previously stated, TCA will post updates on this site as soon as we have further news.
Posted on: May 11, 2020
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 0203 519 3808 or email: info@TimeshareConsumerAssociation.org.uk