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.

Counsel was co-founded in 2010.

Global Counsel was established by Peter Mandelson after Labour’s general election defeat in 2010.

The company had stated that Peter Mandelson no longer held any role or influence within the business.

disposed of his remaining stake in Global Counsel in stages after he was dismissed from his role as Britain’s ambassador to the United States last autumn.

The Financial Times reported that the former Labour peer secured more than £1.5million from those share sales. A former chief executive acquired the majority of Peter Mandelson's holdings in 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.