Scandal-hit Prince Andrew is desperate to sell his £18million seven-bedroom property in a bid to raise money to pay his accuser Virginia Giuffre. But sources in Verbier say the idyllic chalet, known as ‘one of the resort’s best’ properties, is ‘in receivership’ due to debt which would make a sale ‘impossible’.
Prince Andrew and his ex-wife Sarah Ferguson have reportedly struck a business deal with an unknown couple.
But a £1.6million debt has caused the sale of the property, named Henora, to be frozen, according to reports in Swiss newspaper Le Temps.
A source said: “The whole deal could fall apart at any moment.
Geneva law professor Nicolas Jeandin told Le Temps: “A sale is in principle impossible, except with the agreement of the creditor.”
It comes after London-based Abels move fans were seen arriving at the huge retirement.
The 62-year-old has not denied the debt but disputes he owes £1.6m.
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In February, it emerged Prince Andrew would sell his cottage in a bid to use the processes to help pay the out-of-court payment of an estimated £12million settlement to accuser Jeffrey Epstein, Virginia Guiffre.
The Duke has vehemently denied the allegations made against him by Ms Guiffre in court in New York. The settlement is not an admission of guilt.
The expensive chalet has a large heated indoor pool, a royal pool deck with plush seating and classic portraits, plenty of comfortable living areas filled with large sofas, a large open fire, a sauna , sun terrace, bar and ball chair worth an impressive £5,600.
Situated in one of the most expensive areas of Verbier, the chalet neighbors have equally expensive properties owned by James Blunt and Richard Branson.
Despite his divorce in 1996, Prince Andrew bought the property with Sarah Ferguson in 2014.
The couple bought Chalet Helora from French socialite Isabelle de Rouvre for the eye-watering sum of £16.6million, although it is expected to sell for significantly more.