Summary
The lobbying firm Global Counsel, co-founded by Peter Mandelson, is preparing to enter administration due to major clients ending their contracts. The links that emerged between the firm and Jeffrey Epstein are said to have contributed to its troubles. Mandelson had resigned from the board in 2024 but remained a shareholder until recently.
Key Facts
- Global Counsel is a lobbying firm co-founded by Peter Mandelson.
- The firm is preparing to enter administration, a legal process similar to bankruptcy.
- This situation arose after important clients cut ties with the firm.
- The clients left following reports of connections with Jeffrey Epstein.
- Peter Mandelson left the board of Global Counsel in 2024 but was a shareholder until recently.
- Benjamin Wegg-Prosser, the other co-founder, resigned as chief executive in February.
- The firm previously had high-profile clients like Shell, TikTok, and Barclays.
- Sources say the firm's issues are due to "the Mandelson legacy."
