The Financial Services Compensation Scheme has put an Enterprise Investment Schemes promoter in default.

Ober Private Clients Ltd was placed in default last week (December 22), paving the way for the FSCS to pay out on any eligible claims against it.

It is now yet known how much the FSCS is expecting to pay out or how many claims it is expecting to receive against the company which specialised in promoting and arranging investments in EIS.

A declaration of default means the FSCS is satisfied the firm is unable to meet the eligible claims made against it.

Earlier this year (August 25), the life-boat scheme said it was in the process of assessing whether investors had a valid claim against the firm.

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