Prince Andrew is set to pay off debt with sale of his £17million Swiss chalet
- The Duke of York has now reached an agreement to drop proceedings with the former owner of the property in the imminent sale of his £17million Swiss chalet
- French socialite Isabelle de Rouvre, 74, sued the Prince and ex-wife Sarah Ferguson last year over £16.6million she claimed they still owed for the property
- When the sale is through, it is thought the Duke will no longer own any property
Prince Andrew is close to selling his £17million Swiss chalet to settle a legal dispute with the former owner.
The Duke of York is understood to have reached an agreement with Isabelle de Rouvre, 74, to drop proceedings with the imminent sale.
The French socialite sued Andrew and his ex-wife Sarah, both 61, last year over £6.6million she claimed they still owed her.
The Yorks bought the seven-bedroom Chalet Helora from Miss de Rouvre in 2014 for £16.6million, but she alleged they missed the final instalment on January 1, 2020.
The Yorks bought the seven-bedroom Chalet Helora (pictured) from Miss de Rouvre in 2014 for £16.6million, but she alleged they missed the final instalment on January 1, 2020
She took the case to the Swiss courts demanding the money for the property in Verbier, equipped with an indoor swimming pool which costs up to £22,000 a week to rent.
But now that it is being sold for close to the asking price of £17.3million, she has agreed to drop proceedings, The Sunday Times reported.
The Yorks intend to repay their debt once the sale goes through. It was first reported the chalet was for sale last year. A source said: ‘The matter is close to being resolved to everybody’s mutual satisfaction.’
The Yorks became friends with Miss de Rouvre after regularly renting the chalet for holidays with their children, Beatrice and Eugenie.
The Yorks became friends with Miss de Rouvre after regularly renting the chalet for holidays with their children, Beatrice and Eugenie
Prince Andrew and his ex-wife bought it with a mortgage and private funding from the Queen as a ‘long-term family investment’, sources claimed.
When the sale is complete, the duke will no longer own any property, it is believed.
But while he appears to have settled his Swiss case sources close to Andrew suggested he will strongly contest the sex abuse claims made in the US by Virginia Roberts, 38.
The duke has repeatedly denied her allegations.