Following discussions with the liquidators of both Azure Resorts Limited and Azure XP Limited and with the directors of Golden Sands Resorts Limited (the owner of the resort) and what was felt to be in the best interests of all clubs’ members, First National Trustee Company (UK) Limited (FNTC) was requested to establish a new company to act as manager of the clubs on behalf of all clubs’ members.
FNTC has therefore established Vacation Club Services Limited (VCSL) to act as the new club manager for Golden Sands Island Residence Club, The Heavenly Collection, and Azure Experiences Membership Club (Azure X). (Collectively ‘the clubs’). VCSL is a non-profit making entity and it’s only role will be to manage the clubs for, and on behalf of, its members. VCSL in turn has established a company in Malta called VCMS Co Limited, which will employ local staff to service the clubs’ members.
In a letter sent to all clubs’ members, FNTC confirmed that annual membership renewal fees previously paid have been secured, protecting the club’s interests and that the future of the clubs is secure. Furthermore, as the club’s trustee, FNTC will actively scrutinize the operations of the management company and shall ensure that it operates efficiently and in the best interests of the members. In the first half of 2021 FNTC intends to establish a members’ advisory board to ensure members’ input is taken into account in relation to the ongoing operation of the management company.
In terms of the resort and member reservations Radisson Blu Resort & Spa, Golden Sands in Malta has reopened and is available for member use after the resort has successfully established COVID-19 health and safety precautions. The new club manager VCSL will do its best to meet members’ requests and provide flexibility for members to use their rights for 2020 (provided that each membership is kept in good order), but they cannot guarantee availability of space. VCSL advise that members should make their reservations as soon as they can and well in advance of the expected time of utilizing their entitlement.