Exhibit 21



SUNTERRA CORPORATION

SUBSIDIARIES
LIST



|                                                                                                 |  |                
|------------------------------------------------------------------------------------------------ |  | ---------------
|Entity Name                                                                                      |  | Incorp         
|                                                                                                 | 
|AKGI Lake Tahoe Investments, Inc.                                                                |  | CA             
|                                                                                                 | 
|AKGI Poipu Inestments, Inc.                                                                      |  | HI             
|                                                                                                 | 
|AKGI St. Maarten, N.V.                                                                           |  | DE/NA          
|                                                                                                 | 
|Alpine Apartment Hotel LmbH                                                                      |  | Austria        
|                                                                                                 | 
|Andalucian Realty Ltd                                                                            |  | England & Wales
|                                                                                                 | 
|Argosy Grand Beach, Inc.                                                                         |  | GA             
|                                                                                                 | 
|Argosy Partners, Inc.                                                                            |  | GA             
|                                                                                                 | 
|Argosy/KGI Grand Beach Investment Partnership                                                    |  | CA             
|                                                                                                 | 
|Argosy/KGI Poipu Investment Partnership, LP                                                      |  | HI             
|                                                                                                 | 
|Benal Holdings Limited                                                                           |  | Gibraltar      
|                                                                                                 | 
|Benal Management Limited                                                                         |  | Gibraltar      
|                                                                                                 | 
|Blue Bison Funding Corporation                                                                   |  | DE             
|                                                                                                 | 
|Broome Park Estates Ltd                                                                          |  | England & Wales
|                                                                                                 | 
|Canaryroute Limited (f/k/a LSI Travel Club)                                                      |  | England & Wales
|                                                                                                 | 
|Citronsa Canarias SL                                                                             |  | Spain          
|                                                                                                 | 
|Club Sunterra Development California, LLC (f/k/a Sunterra East Marketing, LLC)                   |  | DE             
|                                                                                                 | 
|Club Sunterra Development II, LLC (f/k/a Sunterra Texas Development, LLC)                        |  | DE             
|                                                                                                 | 
|Club Sunterra Development, LLC                                                                   |  | DE             
|                                                                                                 | 
|Club Sunterra Ltd                                                                                |  | England & Wales
|                                                                                                 | 
|Club Sunterra, Inc.                                                                              |  | FL             
|                                                                                                 | 
|Club Via Limited                                                                                 |  | England & Wales
|                                                                                                 | 
|Collie Inversion Inmobilario Santa Cruz SL                                                       |  | Spain          
|                                                                                                 | 
|Cotiempo SL                                                                                      |  | Spain          
|                                                                                                 | 
|Dutch Elm Holdings, LLC                                                                          |  | DE             
|                                                                                                 | 
|Dutch Elm, LLC                                                                                   |  | NV             
|                                                                                                 | 
|Epic Declarant, Inc.                                                                             |  | DE             
|                                                                                                 | 
|Epic Master Funding Corporation                                                                  |  | DE             
|                                                                                                 | 
|Epic Receivables 1999, LLC                                                                       |  | DE             
|                                                                                                 | 
|Epic Residual Assets, Inc.                                                                       |  | DE             
|                                                                                                 | 
|Flanesford Management Limited                                                                    |  | England & Wales
|                                                                                                 | 
|Flanesford Priory Limited                                                                        |  | England & Wales
|                                                                                                 | 
|Floriana Holdings Limited                                                                        |  | Gibraltar      
|                                                                                                 | 
|Floriana Management Limited                                                                      |  | Gibraltar      
|                                                                                                 | 
|George Acquisition Subsidiary, Inc.                                                              |  | NV             
|                                                                                                 | 
|Global Management Services Ltd                                                                   |  | Isle of Man    
|                                                                                                 | 
|Global Vacation Club Gold Ltd                                                                    |  | Isle of Man    
|                                                                                                 | 
|Grand Beach Partners, L.P.                                                                       |  | CA             
|                                                                                                 | 
|Grand Beach Resort, Limited Partnership                                                          |  | GA             
|                                                                                                 | 
|Grand Vacation Company (Europe) Ltd                                                              |  | England & Wales
|                                                                                                 | 
|Grand Vacation Travel Ltd                                                                        |  | England & Wales
|                                                                                                 | 
|GVC Deutschland Betriebsgesellschaft mbH                                                         |  | Germany        
|                                                                                                 | 
|GVC Deutschland Holding GmbH                                                                     |  | Germany        
|                                                                                                 | 
|GVC Deutschland Vertriebsgesellschaft mbH                                                        |  | Germany        
|                                                                                                 | 
|GVC Gran Canarias Management SL                                                                  |  | Spain          
|                                                                                                 | 
|GVC Nominee Ltd                                                                                  |  | England & Wales
|                                                                                                 | 
|GVC Spanish Benalmadena Management SL                                                            |  | Spain          
|                                                                                                 | 
|GVC Spanish Management SL                                                                        |  | Spain          
|                                                                                                 | 
|Hewicoon SL                                                                                      |  | Spain          
|                                                                                                 | 
|International Timeshares Marketing LLC                                                           |  | DE             
|                                                                                                 | 
|Kabushiki Gaisha Kei, LLC                                                                        |  | CA             
|                                                                                                 | 
|Kenmore Club Ltd                                                                                 |  | Scotland       
|                                                                                                 | 
|KGI Grand Beach Investments, Inc.                                                                |  | GA             
|                                                                                                 | 
|KGK Investors, Inc.                                                                              |  | CA             
|                                                                                                 | 
|KGK Lake Tahoe Development, Inc.                                                                 |  | CA             
|                                                                                                 | 
|KGK Partners, Inc.                                                                               |  | CA             
|                                                                                                 | 
|Lake Tahoe Resort Partners, LLC                                                                  |  | CA             
|                                                                                                 | 
|Los Amigos Beach Club Limited                                                                    |  | Isle of Man    
|                                                                                                 | 
|Los Amigos Beach Club Management Limited                                                         |  | Isle of Man    
|                                                                                                 | 
|LS Financial Services Limited                                                                    |  | England & Wales
|                                                                                                 | 
|LS International Resort Management Limited                                                       |  | England & Wales
|                                                                                                 | 
|LS Interval Ownership Limited                                                                    |  | England & Wales
|                                                                                                 | 
|LSI (Wychnor Park) Limited                                                                       |  | England & Wales
|                                                                                                 | 
|LSI Developers, Ltd                                                                              |  | England & Wales
|                                                                                                 | 
|LSI Properties Ltd                                                                               |  | England & Wales
|                                                                                                 | 
|Mazatlan Development Inc.                                                                        |  | WA             
|                                                                                                 | 
|Mercadotechnia de Hospedaje S.A. de C.V.                                                         |  | Mexico         
|                                                                                                 | 
|Merceta Canarias SL                                                                              |  | Spain          
|                                                                                                 | 
|Meridiat Canarias SL                                                                             |  | Spain          
|                                                                                                 | 
|MMG Development Corp                                                                             |  | FL             
|                                                                                                 | 
|Octopus GmbH                                                                                     |  | Austria        
|                                                                                                 | 
|Pastor Inmobiliario Insular SL                                                                   |  | Spain          
|                                                                                                 | 
|Pine Lake Management Services Limited                                                            |  | England & Wales
|                                                                                                 | 
|Pine Lake plc                                                                                    |  | England & Wales
|                                                                                                 | 
|Poipu Resort Management Company                                                                  |  | HI             
|                                                                                                 | 
|Poipu Resort Partners, LP                                                                        |  | HI             
|                                                                                                 | 
|Premier Vacations, Inc.                                                                          |  | FL             
|                                                                                                 | 
|Resort Management International, Inc.                                                            |  | CA             
|                                                                                                 | 
|Resort Marketing International, Inc.                                                             |  | CA             
|                                                                                                 | 
|Resort Marketing International, Inc.                                                             |  | DE             
|                                                                                                 | 
|Resot Management Services SL                                                                     |  | Spain          
|                                                                                                 | 
|RPM Management LLC                                                                               |  | DE             
|                                                                                                 | 
|RPM Management, Inc.                                                                             |  | AZ             
|                                                                                                 | 
|Sahara Sunset Resort Management SL                                                               |  | Spain          
|                                                                                                 | 
|Signature Capital - West Maui L.L.C.                                                             |  | DE             
|                                                                                                 | 
|Signature Grand Villas, Inc.                                                                     |  | USVI           
|                                                                                                 | 
|SunSera Funding Corp.                                                                            |  | NV             
|                                                                                                 | 
|Sunset Sur SA                                                                                    |  | Spain          
|                                                                                                 | 
|Sunterra Balearic Sales SL                                                                       |  | Spain          
|                                                                                                 | 
|Sunterra Centralized Services Company                                                            |  | DE             
|                                                                                                 | 
|Sunterra Centralized Services Global, LLC                                                        |  | DE             
|                                                                                                 | 
|Sunterra Centralized Services Nevada, LLC                                                        |  | DE             
|                                                                                                 | 
|Sunterra Centralized Services USA, LLC                                                           |  | DE             
|                                                                                                 | 
|Sunterra Citrus Share Holding, Inc. (f/k/a Sunterra South Marketing, LLC)                        |  | DE             
|                                                                                                 | 
|Sunterra Clubs (Europe) Ltd                                                                      |  | England & Wales
|                                                                                                 | 
|Sunterra Communications, LLC                                                                     |  | DE             
|                                                                                                 | 
|Sunterra Coral Sands Development, LLC                                                            |  | DE             
|                                                                                                 | 
|Sunterra Cypress Pointe I Development, LLC                                                       |  | DE             
|                                                                                                 | 
|Sunterra Cypress Pointe II Development, LLC                                                      |  | DE             
|                                                                                                 | 
|Sunterra Cypress Pointe III Development, LLC                                                     |  | DE             
|                                                                                                 | 
|Sunterra Daytona Beach Development, LLC (f/k/a Sunterra Bent Creek Golf Course Development, LLC) |  | DE             
|                                                                                                 | 
|Sunterra Developer and Sales Holding Company                                                     |  | DE             
|                                                                                                 | 
|Sunterra Epic Mortgage Holdings, LLC (f/k/a Sunterra KGK Partners Finance, LLC)                  |  | DE             
|                                                                                                 | 
|Sunterra Europe (Group Holdings) plc                                                             |  | England & Wales
|                                                                                                 | 
|Sunterra Europe Ltd                                                                              |  | England & Wales
|                                                                                                 | 
|Sunterra Fall Creek Development, LLC                                                             |  | DE             
|                                                                                                 | 
|Sunterra Finance Holding Company                                                                 |  | DE             
|                                                                                                 | 
|Sunterra Financial Services, Inc.                                                                |  | NV             
|                                                                                                 | 
|Sunterra Golf Holding Company                                                                    |  | CA             
|                                                                                                 | 
|Sunterra Grand Beach I Development, LLC                                                          |  | DE             
|                                                                                                 | 
|Sunterra Grand Beach II Development, LLC                                                         |  | DE             
|                                                                                                 | 
|Sunterra Greensprings Development, LLC                                                           |  | DE             
|                                                                                                 | 
|Sunterra Hilton Head Development, LLC (f/k/a Sunterra Bent Creek Village Development, LLC)       |  | DE             
|                                                                                                 | 
|Sunterra Italia Sri                                                                              |  | Italy          
|                                                                                                 | 
|Sunterra Kallof Place Development, LLC                                                           |  | DE             
|                                                                                                 | 
|Sunterra Lake Tahoe Development, LLC                                                             |  | DE             
|                                                                                                 | 
|Sunterra Las Vegas Development, LLC (f/k/a Sunterra Polynesian Isles Development, LLC)           |  | DE             
|                                                                                                 | 
|Sunterra Management and Exchange Holding Company                                                 |  | DE             
|                                                                                                 | 
|Sunterra Mortgage Holdings, LLC                                                                  |  | DE             
|                                                                                                 | 
|Sunterra Pacific Realty, Inc. (f/k/a VI Realty, Inc.)                                            |  | CO             
|                                                                                                 | 
|Sunterra Pacific, Inc. (f/k/a Vacation Internationale, Inc.)                                     |  | WA             
|                                                                                                 | 
|Sunterra Palm Sprigs Development, LLC (f/k/a Sunterra North Marketing, LLC)                      |  | DE             
|                                                                                                 | 
|Sunterra Poco Diablo Development, LLC                                                            |  | DE             
|                                                                                                 | 
|Sunterra Port Royal Development, LLC                                                             |  | DE             
|                                                                                                 | 
|Sunterra Portugal Clube de Ferias Ltd                                                            |  | Portugal       
|                                                                                                 | 
|Sunterra Powhatan Development, LLC                                                               |  | DE             
|                                                                                                 | 
|Sunterra Residual Assets Development, LLC                                                        |  | DE             
|                                                                                                 | 
|Sunterra Residual Assets Finance, LLC                                                            |  | DE             
|                                                                                                 | 
|Sunterra Residual Assets M&E, LLC                                                                |  | DE             
|                                                                                                 | 
|Sunterra Ridge on Sedona Development, LLC                                                        |  | DE             
|                                                                                                 | 
|Sunterra Ridge Pointe Development, LLC                                                           |  | DE             
|                                                                                                 | 
|Sunterra Sales Italy Srl                                                                         |  | Italy          
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|Sunterra San Luis Bay Development, LLC                                                           |  | DE             
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|Sunterra Santa Fe Development, LLC                                                               |  | DE             
|                                                                                                 | 
|Sunterra Scottsdale Development, LLC (f/k/a Sunterra Poipu GP Development, LLC)                  |  | DE             
|                                                                                                 | 
|Sunterra Sedona Springs Development, LLC                                                         |  | DE             
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|Sunterra Sedona Summit Development, LLC                                                          |  | DE             
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|Sunterra Spanish Sales SL                                                                        |  | Spain          
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|Sunterra St. Croix Development, LLC                                                              |  | DE             
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|Sunterra St. Croix, Inc.                                                                         |  | USVI           
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|Sunterra Steamboat Development, LLC                                                              |  | DE             
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|Sunterra Tahoe Beach & Ski Development, LLC                                                      |  | DE             
|                                                                                                 | 
|Sunterra Tenerife Sales SL                                                                       |  | Spain          
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|Sunterra Title Ltd                                                                               |  | England & Wales
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|Sunterra Travel Ltd                                                                              |  | England & Wales
|                                                                                                 | 
|Sunterra Travel, Inc. (f/k/a Vacation Time Travel, Inc.)                                         |  | WA             
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|Sunterra Villa Mirage Development, LLC                                                           |  | DE             
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|Sunterra Villas of Sedona Development, LLC                                                       |  | DE             
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|Sunterra Voyages SARL                                                                            |  | France         
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|Sunterra West Marketing, LLC                                                                     |  | DE             
|                                                                                                 | 
|TerraSun Holdings, L.L.C.                                                                        |  | DE             
|                                                                                                 | 
|TerraSun, L.L.C.                                                                                 |  | NV             
|                                                                                                 | 
|Thurnham Vacation Club Management Limited                                                        |  | England & Wales
|                                                                                                 | 
|Torres Mazatlan S.A. de C.V.                                                                     |  | Mexico         
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|Torres Vallarta S.A. de C.V.                                                                     |  | Mexico         
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|Vacaciones Compartidos Mazatlan y Vallarta, S.A. de C.V.                                         |  | Mexico         
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|Vacacionistas Internacionales Mazatlan S.A. de C.V.                                              |  | Mexico         
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|Vacacionistas Internacionales Vallarta S.A. de C.V.                                              |  | Mexico         
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|Vacation Club Partnerships Limited                                                               |  | England & Wales
|                                                                                                 | 
|Vacation Owners Club SA                                                                          |  | Spain          
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|Vacation Research Ltd                                                                            |  | England & Wales
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|Vacation Time Share Travel, Inc.                                                                 |  | Bahamas        
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|Vilar Do Golf Empreendimentos Turisticos Lda                                                     |  | Portugal       
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|West Maui Resorts Partners, LP                                                                   |  | DE