A Financial Firm’s Collapse Reverberates as Its Founder Answers Questions

Lex Greensill’s company attracted attention in high levels of British government until it failed. Lawmakers are leading an inquiry.

By Eshe Nelson

LONDON — Greensill Capital collapsed because it lost insurance coverage for the loans it offered — not because of its risky business model, Lex Greensill insisted in testimony on Tuesday, breaking his silence more than two months after his company abruptly filed for bankruptcy.

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