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Prince Andrew is selling his $23.7 million ski-resort chalet in Switzerland, the only property that he still owns in his own name.
The former owner of the chalet sued Andrew and his ex-wife Sarah Ferguson for reportedly failing to pay the remaining $9 million due for the property. However, the lawsuit was dropped following the prince's decision to sell the property, and he will use the money to pay off the debt, according to the Times.
“Court action has been withdrawn and the matter is close to being resolved to everybody’s mutual satisfaction,” a source told the outlet.
Andrew and his ex-wife originally bought the chalet in 2014 as a long-term family investment. Using a mortgage and private funding from his mother, Queen Elizabeth II, the prince bought the property for the equivalent of over $22.7 million, the outlet stated.
While the prince does not need to worry about the lawsuit related to his property anymore, he still faces another, more serious lawsuit in the United States.
On Aug. 27, the prince was served a lawsuit on behalf of Virginia Giuffre, who accused him of sexually assaulting her when she was 17. The lawsuit claims that the British royal collaborated in sexually abusing underage girls with sex trafficker Jeffrey Epstein and that he became a frequent guest in Epstein’s various homes around the world.
Andrew and his ex-wife currently live together on the queen’s Windsor estate at Royal Lodge, an estate owned by Crown Estates Commissioners, according to the U.K. outlet.
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Original Author: Asher Notheis
Original Location: Prince Andrew to sell Swiss ski-resort chalet to settle $9M lawsuit