Global Counsel is set to enter administration following the revelations of both Wegg-Prosser and Mandelson's links to convicted sex offender and paedophile Jeffrey Epstein. The announcement comes days after the firm said that Wegg-Prosser, then Chief Executive, would step down and be replaced with Rebecca Park. Global Counsel employs 130 people, and all were informed of this decision today. The firm lost considerable business and notable clients after the information about the founders' association with Epstein was made public. Barclays terminated its relationship with the firm, and others have evidently followed suit. Other major clients include: KKR, Klarna and Phoenix Group. Vodafone, who had previously stated that they would put their relationship with Global Counsel under review. This is still the case. Whilst the firm retained a number of clients, the damage is too significant to continue. The firm's prestige and success comes partly as a result of both Mandelson's and Wegg-Pros...