Industry News
Prince Andrew, the younger brother of Prince Charles and ninth in line to the British throne, is selling his $23.7 million ski resort chalet in Switzerland to settle a lawsuit accusing him of not paying the $9 million still owed.
Andrew and his ex-wife, Sarah Ferguson, bought the seven-bedroom home in the ski resort of Verbier, Switzerland, for $23-million (£18.3m) in 2014 but allegedly failed to pay off the third installment by a deadline of December 2019. According to Swiss media, a sum of $6.2million (£5m) was due to be paid at the end of 2019, which has since risen to $8.4-million.
The lawsuit has been dropped following the Prince’s decision to sell the property, and he will use the money to pay off the debt.
“Court action has been withdrawn and the matter is close to being resolved to everybody’s mutual satisfaction.”
– a source told The Times
The Royal Family of Buckingham Palace has declined to comment on the reports.
According to Wikipedia, Prince Andrew, Duke of York, KG, GCVO, CD, ADC(P) (Andrew Albert Christian Edward, born 19 February 1960) is a member of the British royal family. He is the third child and second son of Queen Elizabeth II and Prince Philip, Duke of Edinburgh. He was second in the line of succession to the British throne when he was born, but he is eighth in line as of April 2020. Prince Andrew holds the rank of vice admiral in the Royal Navy, in which he served as a helicopter pilot and instructor and as the captain of a warship. He served during the Falklands War, flying on multiple missions, including anti-surface warfare, Exocet missile decoy, and casualty evacuation.
Verbier is a village located in south-western Switzerland in the canton of Valais. It is a holiday resort and ski area in the Swiss Alps and is recognized as one of the premier backcountry ski resorts in the world. Some areas are covered with snow all year. Skiers have settled in the Verbier area to take advantage of the steep slopes, varied conditions, and resort culture.
