The report claims almost £5m was due to be paid for the chalet at the end of 2019, but was not received
Friday, 8th May 2020, 10:17 am
Le Temps newspaper said the Duke of York and his ex-wife Sarah Ferguson bought the holiday home in the Verbier ski resort for £18.3m (22 million Swiss francs) in 2014.
But they did not meet a deadline to pay off a chunk of the sum for the seven-bedroom chalet in December 2019, the French-language paper reports.
A spokesperson for Prince Andrew 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.”
Buckingham Palace declined to comment on the matter.
£5m reportedly due by end of 2019
The report claims almost £5m was due to be paid for the chalet at the end of 2019, which has since risen to £6.7m (eight million Swiss francs).
It is understood that the Duke and Duchess of York had intended to sell the chalet, with the proceeds of the sale intended to clear any outstanding debt, a move which is believed to be known to the lender.
Law firm Etude du Ritz has been instructed to launch legal proceedings, Le Temps reports.
Stepped down from royal duties
In November, the duke faced a backlash following the interview, with critics accusing him of failing to show regret over his friendship with the former financier and convicted sex offender.