Scandal-hit Andrew is desperate to sell his £18million seven-bedroom property in a bid to raise funds to pay off his accuser Virginia Giuffre. But sources in Verbier say the idyllic chalet retreat, known as “one of the best” properties in the resort, is “under sequestration” due to debt which would make the sale “impossible”.
Prince Andrew and his ex-wife Sarah Ferguson are reported to have entered a business arrangement with an unknown couple.
But a £1.6million debt prompted 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 collapse 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 removal fans from London firm Abels were seen arriving at the enormous retreat.
The 62-year-old has not denied debt is owed but he is understood to be disputing he owes £1.6million.
READ MORE: Prince Philip ‘did what he knew best’ as a parent – ‘progressive man’
In February, it emerged Prince Andrew would sell off his chalet in an aim to use the processes to help pay the out-of-court payment of an estimated £12 million settlement to Jeffrey Epstein accuser, Virginia Guiffre.
The Duke has vehemently denied the allegations brought against him by Ms Guiffre in the New York court. The settlement is not an admission of guilt.
The expensive chalet boasts a large heated indoor pool, a regal pool terrace with soft seating and classic portrait paintings, a number of cosy living spaces filled with large sofas, a large open fire, a sauna, a sun terrace, a bar, and a ball chair worth an impressive £5,600.
Set in one of the most expensive areas of Verbier, the chalet neighbours have equally expensive properties owned by the likes of James Blunt and Richard Branson.
Despite divorcing in 1996, Prince Andrew purchased the property with Sarah Ferguson in 2014.
The pair bought Chalet Helora from French socialite Isabelle de Rouvre for a whopping £16.6million, though it is expected to sell for much more.