Updated: Azure Timeshare
Sadly, here at Timeshare Solicitor, we are no strangers to endless Timeshare fraud and scandals that are rife in the industry as of late. Timeshares are becoming more and more commonly represented in the media as negative, with people feeling constantly trapped and like they are unable to free themselves from their own.
‘Azure Services Limited’ is one large example of a company who has earned itself a lot of negative press when it comes to their approach to selling Timeshares. In August 2018, we looked in this article at Azure group and then again more recently, after they came under a lot of scrutiny with accusations to mis-selling Timeshares and then bullying their buyers using all too common scare techniques. The total amount of the concerned loans amounted to £47 million, and a staggering £32,500 per transaction! With these scams still on the rise, we felt it important to review their case once again. Continue reading to find out more about the Azure Timeshare scandal, and if you have been a victim how we can help.
The Golden Sands resort is a prestigious Radisson Blu franchise, known for its stunning location and big, seemingly credible celebrity names such as Gary Neville and Ryan Giggs. These footballers have been linked to the mis-sold Malta Timeshares. In 2009, Neville became a non-executive director of Island Hotels Group Holdings after he and Ryan Giggs invested €1.1 million each. The Island Hotels Group owned 50% of the Golden Sands resort and 50% of Azure Services Limited. Azure marketed the timeshares and brokered the Barclays loans, and as we reported in our article in 2018 which you can read here, Azure company was found to have been operating as a financial broker between 2014 and 2016 without authorisation under British law.
The footballers’ links with the hotel group were allegedly often used by sales staff, who brokered an incredible 1,444 loans through Barclays Bank. Many people who purchased the Timeshare did so believing it was credible because of the celebrity status attached to it, they were led to believe that their investment would continue to grow as time went on. These false promises caused Barcalys to determine that the Timeshare’s had been misrepresented to buyers, having dealt with a large number of litigation claims in association to the case. It is now up the FCA (Financial Conduct Authority) to decide whether Barclays should be allowed to enforce these debts, due to the false information that buyers received prior.
What does this mean for Timeshare owners?
Unfortunately, many stories have shed light on this since this scandal. In one instance in this Times article, a 41-year-old man named Charles Rebbeck in Hastings had received a cold call to his home in the UK offering him a week’s holiday for £150 at the Golden Sands resort with his family connected with Neville and Azure. Charles Rebbeck’s wife at the time was recovering from cancer and with two young daughters to consider, he decided that buying the Timeshare would help his family on their road to recovery. He said,“I had absolutely no plans to buy a timeshare.” However, like so many others, after sitting through an intense five-hour sales pitch with photographs of Neville and Giggs displayed, he agreed to pay £13,300 for a one-week timeshare with a 25-year contract, after being reassured it would eventually be worth £24,000 or more. With an investment this big, he was told it would be incredibly easy to sell on and so it would make a great life for his family in the future, just the fresh start that they needed.
Reality set in when eventually, when it came to selling the timeshare, he was tragically unable to like so many others in the same situation. His wife, tragically, passed away in 2016 leaving him the sole carer for his two daughters and rapidly increasing debt he was unable to pay. As heartbreaking as his case may seem, he is not alone. In the Timeshare world, this situation is very common and people are suffering everywhere feeling like they have no way out. If you are one of those people, contact Timeshare Solicitor today, we can promise that we have seen your circumstances before and we have many solutions that can help to ease your burdens, you are never alone with the Timeshare Solicitor.
What are my next steps?
If you relate to Rebbeck’s situation, we are working with clients right now who are victims of Timeshare scams. We work off a no win no fee basis to be there for you in your time of need without focusing on the financial side of things. We care about you and getting your life back on track.