Global Counsel: Lobbying Firm Co-founded by Peter Mandelson Collapses Owing £4.5m
Lobbying business went into administration in February, three days before peer was arrested over Epstein allegations
Quick Look
- Global Counsel, the lobbying firm co-founded by Peter Mandelson, collapsed owing £4.54m to creditors including £645,789 to HM Revenue and Customs.
- The London-based firm went into administration on 20 February 2026, three days before Mandelson was arrested over allegations he passed sensitive information to Jeffrey Epstein.
- The firm said it suffered significant financial impact after clients cut ties amid pressure over its association with the former Labour minister and US ambassador.
AI-generated summary
Why It Matters
Global Counsel was a London-based lobbying firm founded in 2010 by Peter Mandelson and Benjamin Wegg-Prosser after Labour lost the general election. The firm worked with high-profile clients including Palantir, GSK, Vodafone, OpenAI, TikTok and the English Premier League. Mandelson served as a Labour minister and later as UK ambassador to the US.
The lobbying firm co-founded by Peter Mandelson collapsed owing £4.5m to creditors including over half a million pounds to HM Revenue and Customs, the Press Association reports.
Global Counsel went into administration in February amid the fallout from the scandal surrounding Mandelson's historical links to paedophile financier Jeffrey Epstein. Figures filed on Companies House showed the firm owed £4.54m when it went bust – with only £2.7m in assets for preferential creditors.
HM Revenue and Customs is among the list of creditors, with the taxman owed £645,789. Administrators at Interpath were appointed in February for the London-based lobbying business, which said it suffered a significant financial impact from a swathe of customers cutting ties with the firm amid pressure over its association to the former politician and US ambassador.
This left directors with no choice but to bring in administrators, it said at the time, despite having insisted that Mandelson no longer had any shareholding, role or influence over it.
The firm's collapse on 20 February happened three days before Mandelson was arrested by police following allegations the former Labour minister passed sensitive information on to Epstein during his time as business secretary. Mandelson was released on bail and has not been charged.
At one stage, Mandelson had a 21% stake in Global Counsel, but is not listed as a creditor in the "statement of affairs" listing on Companies House. Mandelson co-founded the firm with Benjamin Wegg-Prosser in 2010 after Labour lost the general election. Mandelson stepped down from its board about two years ago.
Global Counsel has worked with a roster of clients including Palantir, GSK, Vodafone, OpenAI, TikTok and the English Premier League.
What to Watch
AI outlook — possibilities, not facts
Further developments expected in Mandelson's legal case as police investigation continues
Very likely · Within weeks
More details about the vetting process will emerge from parliamentary committee
Likely · Within weeks
Open Questions
- What specific information was allegedly passed to Jeffrey Epstein?
- Will any charges be filed against Mandelson?
- How will this affect Mandelson's appointment as US ambassador?
- What happened to the 21% stake Mandelson held?
