The Cool Blue Samui related claims guide
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Cool Blue Samui is an HIGH RISK Overseas Property Investment, unregulated by the Financial Conduct Authority. Investors were invited to fund a villa complex on the heavily developed island of Koh Samui, Thailand, often in exchange for some high-projected returns, often to be paid into their SIPP Pension.
Because it is high risk, Cool Blue Samui and other overseas property investments are often only suitable for people who are:
- High Net Worth Individuals, earning over £100,000 per year, or with £250k of net assets
- Sophisticated investors, with a wealth of knowledge and experience in investing.
If you do NOT fit either of these descriptions, or were not told that your Cool Blue Samui investment would be high risk, you may have been mis-sold your pension investment, and could be able to make a claim against the negligent advice of your financial adviser for placing you into a Cool Blue Samui investment.
See if you can make a SIPP claim by getting in touch for a friendly chat!
Can you claim for Cool Blue Samui mis-selling compensation?
Several financial advisers and the FSCS have been paying out compensation for the mis-selling of Cool Blue Samui and similar investments via SIPPs and SSASs for a few years, with Spencer Churchill Claims Advice often leading the claim on a No Win – No Fee* basis.
If you:
- Transferred your pension to a SIPP
- Invested in Cool Blue Samui or other high-risk investments
- Aren’t earning over £100k per year
- Aren’t a Sophisticated Investor
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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How could Cool Blue Samui effect a SIPP?
SIPPs allow greater choice for investments for pension savers, but this can also sometimes include high-risk investments.
Many people invested in Cool Blue Samui, and while some of those people will have gone into the investment with their eyes wide open in full knowledge of the risks it presented based on their own wealth of investment experience, many will have not known that this was always a high-risk investment.
If the investment was to fail, and the majority of money inside the SIPP was invested in it, it could devastate the pension completely.
Because unregulated investments have no protection from the FSCS if they fail, recovery could be difficult.
However, if it can be shown that a financial adviser provided negligent financial advice over a final salary pension transfer or investment in something like Cool Blue Samui, you may have a claim.
Cool Blue Samui timeline of events
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Company formed
2011
Although not registered in the UK under the name Cool Blue Samui, we know from correspondence and paperwork that Cool Blue began in 2011.
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Q2 update
2016
The Q2 update from Kudos didn’t sound too good:
The project became reliant on funding from external investment […] FCA changed the rules on investment promotions which made it more difficult to raise funds from investors […] more funds would have to be spent of administration…”
“The decision has unfortunately made that the project has become uneconomic”
“We are now looking to sell the project”.
Related claims
Cool Blue compensation FAQ’s
How much compensation for Cool Blue can I get?
How much compensation you may be able to claim depends on several factors, including whether your claim is eligible, how much you invested, how much you lost and who may have given you advice.
Its always difficult to say how much compensation a claim could be worth until its done, but if you were sold Cool Blue as part of a SIPP investment, your initial assessment phonecall with Spencer Churchill Claims Advice is free when you use our call-back service, and you may be able to proceed on a No Win – No Fee basis.
Are there investments linked to Cool Blue?
Not nessecarily by ownership, but sometimes financial advisers gave advice on batches of high-risk investments within SIPPs.
We’ve seen Cool Blue in the same SIPP as the Marbella Resort & Spa PLC bond and Venture Oils in the past, although this is no guarantee that the SIPP was mis-sold.
Can I make a claim against Cool Blue or a marketing firm?
Regulated entities such as a financial adviser or SIPP provider may be subject to FCA’s rules, and a claim may be brought against them if it can be shown that the broke these rules.
Do you know how people complained about mis-sold investments and pensions in the last year?
A lot. Over twenty thousand complaints were made about mis-sold pensions and investments in 2020/21, a figure which had doubled since the year before.. It’s no secret how serious this problem is, and it just seems to keep getting worse.
Have you been a victim of financial mis-selling?
Reaching out for help is never easy,
especially if you’ve been misled in the past.
But getting in touch with us won’t commit you to anything. We want to toss you a lifeboat and guide you through the choppy waters of the financial ocean, not leave you struggling to stay afloat. Our experts are here to offer advice and support on financial claims. We know what we’re doing and you can trust that if you’ve got questions, we’ve got answers.
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