Mandelson’s lobbying firm Global Counsel went bust owing £4.6m, report says
Summary
Peter Mandelson’s former consultancy firm, Global Counsel, went bankrupt in February owing £4.6 million, including over £600,000 to the UK tax authorities. The company lost clients partly because of concerns about Mandelson’s past links to Jeffrey Epstein, and it employed around 100 people before closing.Key Facts
- Global Counsel owed £4,596,149 in liabilities but had assets valued at about £10.7 million.
- Administrators expect to recover only around £2.7 million from the company’s assets.
- The largest creditor is HM Revenue and Customs, which is owed £645,789.
- Global Counsel advised big clients like TikTok, Palantir, and GSK.
- Peter Mandelson resigned from the board in 2024 but kept shares in the firm.
- The firm faced scrutiny because of Mandelson’s links to Jeffrey Epstein, a convicted sex offender.
- Ben Wegg-Prosser, co-founder and CEO, resigned in early February amid controversy over Epstein connections.
- Around 100 employees were owed £2.6 million by Global Counsel before it collapsed.
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