UK Consultancy Global Counsel Enters Insolvency Owing £646,000 to HMRC

# Global Counsel Enters Insolvency Global Counsel entered insolvency in February. The UK public affairs consultancy owes HMRC approaching £646,000. Shares in Global Counsel became worthless following the company’s collapse into administration.

Global Counsel lost major clients after disclosures concerning Peter Mandelson’s links to Jeffrey Epstein. Barclays ended its contract with Global Counsel. Tesco ended its contract with Global Counsel.

Vodafone ended its contract with Global Counsel. Bloomberg is owed money by Global Counsel. The Press Association is owed money by Global Counsel. Global Counsel had approximately 80 UK employees. Most of Global Counsel’s approximately 80 UK employees were made redundant.

" Former staff of Global Counsel owed holiday pay, wages and pension contributions are expected to be paid in full as preferential creditors, according to administrator’s proposals. HMRC has not yet submitted a final proof of debt for Global Counsel, according to Sky News.

Background on Company Founding and Key Figures Global Counsel was co-founded in 2010.

Global Counsel was established by Peter Mandelson alongside Benjamin Wegg-Prosser after Labour’s general election defeat in 2010. Benjamin Wegg-Prosser previously worked as a political adviser and director of strategic communications under Tony Blair. Benjamin Wegg-Prosser left Global Counsel earlier this year after it cut ties with Peter Mandelson.

Global Counsel stated that Peter Mandelson no longer held any role or influence within the business.

Peter Mandelson's Involvement and Exit Peter Mandelson disposed of his remaining stake in Global Counsel in stages after Sir Keir Starmer dismissed him from his role as Britain’s ambassador to the United States last autumn.

5 million from share sales in Global Counsel, according to the Financial Times. Rebecca Park acquired the majority of Peter Mandelson's holdings in Global Counsel. Rebecca Park briefly served as chief executive of Global Counsel.

Administrators to Global Counsel will review transactions made by the former UK ambassador to the US to see if there is anything they can claw back for creditors.

Investigation into Peter Mandelson Peter Mandelson was arrested in February on suspicion of misconduct in public office.

Metropolitan Police officers searched properties in London and Wiltshire related to Peter Mandelson. Emails emerged suggesting Peter Mandelson shared market-sensitive information with Jeffrey Epstein in 2009 while serving as business secretary under Gordon Brown. Peter Mandelson has not been charged following his arrest.

Peter Mandelson’s lawyers stated he is cooperating fully with the investigation and his priority is to clear his name.