Global Counsel Faces Administration Amid Epstein Controversy

Global Counsel, co-founded by former British ambassador Peter Mandelson, is poised for administration by Friday. A source indicated that recent client losses followed disclosures about Mandelson's past connection to the late U.S. sex offender Jeffrey Epstein.

The company did not provide any comment on the situation. Last year, Global Counsel severed its association with Mandelson following his dismissal as Britain's ambassador to the U.S. by Prime Minister Keir Starmer. Co-founder Benjamin Wegg-Prosser resigned as CEO earlier this year.

An agreement to divest Mandelson's shares was reached, completely ending his involvement with Global Counsel. Major clients like KKR, Barclays, and Tesco have since cut ties, with others not planning future collaborations.