A spokesperson for the joint administrators at Interpath confirmed: \u201cAs the exit of customers left the company facing insolvency, the U.K. business was unable to continue to trade while the statutory notice periods be run.\u201d<\/p>\n
Dozens of former U.K. staff are now planning to apply for a protective award, the same two former staff members told POLITICO. When a claim is successful against an insolvent firm, employees are able to receive a maximum of \u00a35,752 each from the Insolvency Service.<\/p>\n
However, Interpath representatives warned in the Feb. 20 meeting that this process could take up to nine months, the same two former staff members said.<\/p>\n
\u2018Let down\u2019<\/p>\n
One of the two former staff members complained that they had suffered financial repercussions while watching Mandelson receive severance from the government.<\/p>\n
The other complained the situation had been \u201cdealt with very, very badly\u201d and staff had felt \u201clet down.\u201d However, a third person praised Global Counsel for running payroll before the firm\u2019s collapse to ensure staff were paid up until the final day they had worked.<\/p>\n
Companies House records show Mandelson transferred his remaining 1,192,137 shares in Global Counsel on Feb. 6. Mandelson\u2019s legal representatives did not respond to a request for comment.<\/p>\n
The firm said at the time that his shares had been fully acquired by three individuals \u2014 the firm\u2019s then-Managing Director Rebecca Park plus \u201can existing board member [and] shareholder.\u201d The firm did not disclose who those people were.<\/p>\n
Global Counsel has not announced how much, if anything, Mandelson was paid for his shares. Until the scandal, Global Counsel \u2014 from which Mandelson resigned as a director in May 2024 \u2014 had been boasting \u201csignificant progress.\u201d Operating profit exceeded \u00a31 million in 2024 thanks to what the company called a \u201csignificant market opportunity arising from increasing geopolitical uncertainty.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"A spokesperson for the joint administrators at Interpath confirmed: \u201cAs the exit of customers left the company facing…\n","protected":false},"author":2,"featured_media":478032,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[625,11764,59,57,58,6235,50,424,56,54,55],"class_list":["post-478031","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-kingdom","tag-british-politics","tag-corruption","tag-gb","tag-great-britain","tag-greatbritain","tag-lobbying","tag-news","tag-peter-mandelson","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/478031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=478031"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/478031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/478032"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=478031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=478031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=478031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}