Finance

SoftBank-backed Greensill Capital reportedly files for insolvency

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Corp. Chief Executive Officer Masayoshi Son speaks during a joint announcement with Toyota Motor Corp. to make new venture to develop mobility services in Tokyo, Japan, 04 October 2018.

Alessandro Di Ciommo | NurPhoto | Getty Images

LONDON — British financial services firm Greensill Capital has filed for administration, according to a report from the Financial Times.

Greensill’s lawyers reportedly appeared before a U.K. court on Monday saying the company has fallen into “severe financial distress” and that it can no longer pay its debts. Filing for administration in the U.K. aims to help a company pay off its debts and avoid insolvency. The company would be protected from legal action by…



Source cnbc.com

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