Corran Resort and Spa and Kayboo LTD

Were you advised to invest in The Corran Resort & Spa? You may want to check if you should be claiming compensation for mis-selling

The Corran Resort & Spa investment, owned by Kayboo Ltd, was a hotel development scheme situated in Laugharne, South Wales. It was a fractional ownership scheme that secured funds to expand the hotel.

Around 425 people worldwide invested £19m.

However, issues with planning permission halted the development, as the site, situated on a floodplain, was deemed to be of special scientific interest.

In 2016 Kayboo Ltd went into administration which triggered an investigation by the Insolvency Service. This revealed that Kayboo received £6.4 million in respect of the existing hotel building known as Phase 1. But the company had only registered 3 leases for investments worth £585,000.

The investigation also uncovered that Kayboo misled investors to believe that Phase 2 of the scheme (to develop 28 rooms in a nearby farmhouse) was low risk and had been safely secured. And that investors would be protected if the company became insolvent.

Kayboo received £10.6 million from investors to develop Phase 2. But no leases were registered, most of the property was never purchased by Kayboo and secured lenders hadn’t given permission for the scheme.

In November 2022 it was reported that the director of Kayboo, Keith Michael Stiles ,was disqualified for “allowing the company to mislead investors”.

Did you invest in The Corran Resort & Spa through your SIPP pension?

Did you know that investments such as hotels and property are considered to be High-risk and non-standard investments? As such they are not regulated by the FCA?

The financial advice you received could be negligent and as a result you may be able to make a claim for compensation.

Want a free expert check to see if you’ve been mis-sold?

Whilst each case is individual, as mis-selling specialists we know to look for certain signs that in our experience indicate that mis-selling may have happened.

Our assessment is free and there’s absolutely no obligation to use our service if you have case.

Key Facts

The Corran Resort & Spa investment was high-risk and unregulated making it was unsuitable for the average investor
Many people may have been mis-sold this investment as a part of their SIPP

We win more than 9 out of 10 claims

The cost of our service is 15% + VAT on the total monies awarded for a successful claim. Our cost is also priced capped at one of the lowest rates.

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Important Information!

You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.

It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.