The Duke of York, 62, is said to be liquidating his company Tyrolese, which provided “business support services”. Its name is said to be a reference to the western Austrian state of Tyrol, a favorite ski resort of the royal family.
Last week, director Richard Parry, a solicitor at Farrer & Co, filed a voluntary application to have the company, of which Andrew is the only person with significant control, removed from the Companies House register.
In his ‘Eden Confidential’ column for the Daily Mail, columnist Richard Eden reports that the prince’s former private secretary, Amanda Thirsk, served as chair of the company for ten years, from 2010 to 2020.
Around this time, she retired following Prince Andrew’s infamous BBC Newsnight interview in 2019, which saw him step back from royal life.
Other business ventures for the royal have also suffered in the past according to the report.
Mr Eden revealed earlier this year that another Andrew company, Urramoor Ltd, had gone into debt of £200,000.
The company was an investment management company and the Duke was listed as having “significant influence or control over the trustees of a trust”.
The name used by the Duke for this was HRH Andrew Inverness – which derives from his title Earl of Inverness.
Another company under Andrew’s control is also threatened with closure.
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Although no specific total was specified, it was assumed the sum was around £12million.
Ms Giuffre claimed Andrew sexually assaulted her three times when she was 17, a minor under US law.
Andrew vehemently denied her allegations.
After the payment was made, attorneys for the Duke and Ms Giuffre filed a stipulation for the lawsuit to be dismissed with prejudice, meaning Ms Giuffre cannot refile the claim in the same New York District Court. .
The settlement effectively ended the civil suit, but it is not an admission of guilt.
A statement issued following the settlement said the Duke would make a ‘substantial donation to Ms Giuffre’s charity in support of victims’ rights’.
The statement added that Andrew ‘never intended to disparage Ms Giuffre’s character’ and he acknowledged that she had ‘suffered both as an established victim of abuse and as a result of ‘unjust public attacks’.
The Duke also pledged to “demonstrate regret for his association” with the late convicted sex offender Jeffrey Epstein by supporting the “fight against the evils of sex trafficking and supporting its victims”.
Representatives for Prince Andrew have been contacted by Express.co.uk