Andrew is reportedly trying to force through the sale of his £17million Swiss chalet to finance his skyrocketing costs. This comes amid claims that he could be forced to shell out £3m in an out-of-court settlement with Ms Giuffre, 38.
She is suing him through a New York court over claims that he had sex with her three times while she was a teenage sex slave who had been trafficked by paedophile Jeffrey Epstein.
Andrew, 61, has always vehemently denied her claims.
But a source told the Mirror that the Duke of York could make an 11th-hour “significant” out-of-court settlement to avert any more reputational damage.
They added: “It is crunch time for Andrew on several fronts.
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While the Duke denies the claims – and insists he has “no recollection” of ever meeting Ms Giuffre – he reportedly recognises that the case proceeding to a civil trial could cause catastrophic reputational damage to the monarchy.
And despite wanting “to clear his name”, a financial settlement could be offered, they claimed.
A source with knowledge of the proceedings said “no discussions have been had regarding a financial settlement”.
But given the fact that “the vast majority of US civil litigation is settled out of court, it would always remain an option on the table”, they added.
Whether Ms Giuffre, who has consistently said she wants to take the case to court, accepts a deal remains to be seen.
Should she accept, selling Chalet Helora in the ski resort of Verbier with ex-wife Sarah Ferguson is understood to be Andrew’s only way of funding a payout.
In September the pair, who bought the seven-bedroom property for £16.6m in 2014, agreed to sell it to a wealthy European investor.
But with the deal still not being completed, the Duke is reportedly trying to push it through “urgently” as his civil case inches towards going to trial.
Express.co.uk has contacted Andrew’s representatives for comment.