Global Counsel calls in administrators, blaming Peter Mandelson maelstrom'

"The continuing maelstrom of political and media attention surrounding Peter Mandelson has made it challenging to continue with the business in its current form. While today's Global Counsel has no connection with Peter Mandelson, his role as a co-founder and his conduct, particularly in its early years, has indelibly coloured the way Global Counsel is seen in the outside world."

"Global Counsel, the advisory firm co-founded by Peter Mandelson, is to collapse into administration, blaming the maelstrom caused by revelations about the former peer's relationship with the convicted sex offender Jeffrey Epstein. Companies including Barclays, Tesco and the Premier League have all deserted Global Counsel, despite the company's efforts to sever ties with Mandelson and the company's co-founder Benjamin Wegg-Prosser. The crisis engulfed Global Counsel after it emerged that Mandelson had sought Epstein's advice on setting up the business in 2010,"

"To be clear, this will no longer be business as usual as the administrators-in-waiting have already indicated that, in the unlikely event that any ongoing servicing of clients is viable, this will be on a limited basis only. Inevitably therefore, this will result in a significant number of redundancies being made by the administrators when they take control of the company tomorrow."

Global Counsel has asked a court to appoint Interpath as administrator and will enter administration after a loss of clients linked to revelations about Peter Mandelson's relationship with Jeffrey Epstein. Major clients including Barclays, Tesco and the Premier League severed ties despite attempts to distance the company from Mandelson and co-founder Benjamin Wegg-Prosser. The firm says Mandelson's early involvement has indelibly coloured external perceptions, making the business unsustainable in its current form. Administrators have indicated any ongoing client servicing would be limited and that significant redundancies are expected. The company employs about 100 people across multiple global offices.

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