Prince Andrew has been forced to sell his 17million pound luxury chalet in the luxury Swiss resort of Verbier to cover the mounting legal fees.
The Duke of York is attempting to speed up the sale of the £17million property in Switzerland because his mother the Queen will not pay his lawyers’ fees according to the Mirror.
A source told the Mirror: “It is crunch time for Andrew on several fronts.”
“He is meeting all the costs himself so he needs to raise cash fast to pay bills which are increasing by the day.
“If there was the potential to settle, well, that is an option, but it is in no doubt that the Queen would not assist him in doing so.”
Senior royals including Prince Charles and Prince William were understood to be “absolutely furious” when they learned of suggestions that the monarch could be asked to settle Andrew’s bills.
On Tuesday Andrew’s lawyer, Andrew B Brettler, argued during a video conference hearing that the confidential agreement Virginia Giuffre entered into with Jeffrey Epstein, who she claims trafficked her to have sex with the duke, ended her right to pursue anyone else.
The document, made public on Monday, detailed how Andrew’s accuser received a 500,000 dollar payout in 2009 and agreed to “release, acquit, satisfy and forever discharge” disgraced financier Epstein and “any other person or entity who could have been included as a potential defendant”.
US judge Lewis Kaplan could reveal today whether or not Andrew will face a full civil trial in New York.
If the case does go to trial and Andrew loses, Ms Roberts could be awarded a settlement which legal experts have predicted could be as much as £3million.
It emerged this week that Prince Andrew could settle out of court with Ms Roberts to avoid the case going to trial.
Prince Andrew denies all claims from Virginia Roberts.