Peter Mandelson’s former lobbying company, Global Counsel, went into administration with debts of £4.6 million, including over £600,000 owed to HM Revenue and Customs, according to a report by the firm’s administrators.
The consultancy, which advised high-profile clients such as TikTok, Palantir and GSK, collapsed in February after losing accounts due to revelations about Mandelson’s ties to convicted sex offender Jeffrey Epstein. Mandelson resigned from the board in 2024 but retained shares in the company.
Administrators’ documents filed at Companies House reveal total liabilities of £4,596,149, with HMRC the largest external creditor owed £645,789. The firm’s 100 employees, mostly based in the UK, are collectively owed £2.6 million.
Global Counsel co-founder Ben Wegg-Prosser stepped down as CEO in early February amid scrutiny over his own meeting with Epstein in 2010. Wegg-Prosser has described the encounter as “a short meeting of no consequence.”
The company’s collapse comes as Mandelson faces renewed scrutiny over his appointment as UK ambassador to Washington, after failing enhanced security vetting. Administrators noted that while Global Counsel has assets worth over £10.7 million, only about £2.7 million is expected to be recovered.
