Corran Resort & Spa was a luxury Welsh holiday property, sold to investors as a solid investment opportunity. The reality was very different – hundreds of people lost money on this investment. Were you mis-sold SIPP pension products and encouraged to invest in Corran by a financial advisor? You could be eligible for mis-sold SIPP compensation.
Back in 2015, the future seemed bright and promising for Corran Resort & Spa. The hotel had just relaunched as a luxury property and had invited Welsh celebrities to partake in a spa experience in their six new treatment rooms. Bookings were steady, and the hotel was busy.
However, it slowly became apparent that all was not as it seemed behind the scenes. Throughout 2017 and 2018, the hotel regularly closed and re-opened due to mismanagement, confusing locals and tourists alike.
In the meantime, more than £19 million was raised from hundreds of investors around the country. Their money was meant to fund extensive plans to build more than 200 lodges on the Laugharne property. However, the plans were then rejected by the Carmarthenshire Council planners.
Back in 2016, it was owned by Kayboo Ltd and operated East Marsh Operational. When both firms went into administration in October 2016, Local MP Simon Hartson spearheaded an investigation into the property.
In the meantime, advisors continued to champion this investment, resulting in hundreds of mis-sold SIPP pensions. Did this happen to you?
Did you invest any of your pension funds with Corran Resort & Spa? If a Corran Resort & Spa advisor convinced you to put your pension money into their investments, only for that investment to fail, you might qualify for mis-sold SIPP compensation.
Our claims experts can advise on whether you could qualify for mis-sold SIPP compensation. Apply online today for an information pack to learn more.
If a financial advisor advised you to invest in an unregulated investment such as Corran Resort & Spa, it is still possible to claim compensation. Where the advisor is still operating, a claim can be pursued against the financial advisor via the Financial Ombudsman Service (FOS).
If an advisor is no longer operating, the Financial Services Compensation Scheme (FSCS) pays compensation for valid mis-selling claims against any financial advisor who has been declared in default by them.
If your pension included investment in Corran Resort & Spa, you could be entitled to compensation.Apply Now
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The Financial Conduct Authority (FCA) has identified ‘serious and ongoing failings’ by both Individual Financial Advisers (IFAs) and Self-Invested Personal Pension Providers. Typically, mis-selling is related to the “wrong” type of investor being given poor or misleading advice as to what investments were relatively safe and right for them. In this summary, we look at What a SIPP is, and how they have been mis-sold, together with the FCA’s review into sector malpractice.Click to Read
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Once we've assessed claim prospects, we make a pension complaint to the Ombudsman or FSCS, where appropriate
Pension complaint response received. We'll carefully analyse the response and advise you on how to proceed.
If appropriate resolution cannot be reached with a live firm, and we disagree with their stance, we will refer the claim to Ombudsman on your instruction.
Allegiant always aligns great value with exceptional service. This winning formula has seen us emerge as one of the UK’s pre-eminent Claims Management Companies in recent years. See why Allegiant is a great choice below. *All information correct as at 28 August 2021.
How our fees work in practice:
• Compensation is £1,000, the fee is £150 plus VAT £30. This means the amount payable to us is £180 leaving you with the benefit of £820.
• Compensation is £3,000, the fee is £450 plus VAT £90. This means the amount payable to us is £540 leaving you with the benefit of £2,460.
• Compensation is £10,000, the fee is £1,500 plus VAT £300. This means that the amount payable to us is £1,800 leaving you with the benefit of £8,200.
NB. It is possible that our fee may become payable before you have access to your pension or investment which may result in you having to pay our fee from your own funds.
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You can cancel this agreement at any time after the 14-day cancellation period. However, if a complaint submitted by us is successful, the Success Fee will apply in the usual way.
You can cancel by post: Allegiant Finance Services Limited, Freepost RTYU–XUTZ–YKJC, 400 Chadwick House, Warrington Road, Birchwood Park, Warrington, WA3 6AE; (b) by email: email@example.com; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uk/legal/cancellation.
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