Prince Andrew, The Duke of York, is facing a legal dispute over an alleged unpaid payment for a Swiss ski chalet.
According to Le Temps, The Duke was on the hook to pay a sum of nearly £5m by the end of 2019 for a skiing chalet in Verbier. The sum has since risen to £6.7m – the equivalent of around eight million USD.
It is believed that Andrew and his ex-wife, Sarah Ferguson, had planned to sell the chalet to cover the outstanding balance.
Andrew and his ex-wife reportedly bought the seven-bedroom holiday home in the ski resort of Verbier for £18.3m in 2014 but allegedly failed to pay off a chunk of the total sum by a deadline of December 2019.
A spokeswoman for the Duke of York said: “We can confirm there is a dispute between the two parties in this matter. The contractual details remain the subject of a confidentiality agreement and prevent further discussion.”
Prince Andrew stepped down from royal duties last year following the scandal surrounding his relationship with Jeffrey Epstein. The FBI and US prosecutors are still investigating Epstein, who says the royal has declined to co-operate with them.