The Queen's favourite grandson is set for a court showdown with his estranged wife next week, according to reports.

Peter Phillips and wife Autumn are trying to reach a financial settlement over their divorce.

The couple, who have two daughters, announced last February that they were divorcing after 12 years of marriage.

The Telegraph reports that a High Court judge will next week hear from lawyers for each party as they seek to separate their finances and agree a settlement.

The pre-trial review hearing will be heard remotely before Mr Justice Peel in the Family Division, Gloucestershire Live reports.

Mr Phillips, 43, the only son of Princess Anne, has applied for reporting restrictions barring the disclosure of financial and other personal details.

The pair are seeking a financial settlement which is set to be heard by the High Court
The pair are seeking a financial settlement which is set to be heard by the High Court

As the Queen and the Duke of Edinburgh's eldest grandchild, Mr Phillips walked behind his grandfather’s coffin during his funeral procession last month, placed between brothers the Duke of Cambridge and the Duke of Sussex.

Mr Philips has retained Nicholas Yates QC, a leading divorce lawyer whose online profile says he handles “complex cases relating to significant assets and jurisdictional disputes” and also “leads negotiations in high-value postnuptial agreements”.

He worked alongside Ayesha Vardag last year, representing wealthy businessman Simrin Choudhrie, 38, who sought £100 million from Bhanu Choudhrie, 41, an heir of one of India's richest families who appeared on the Channel 4 reality show The Secret Millionaire.

In March, he was accused of breaking lockdown restrictions by spending the night with female friend, Lindsay Wallace, 40, in Aberdeenshire, Scotland.

Police officers were said to have visited the pair at the property and “issued advice” but concluded that no breach of rules had taken place.

Mr Phillips is said to be the Queen's favourite grandson
Mr Phillips is said to be the Queen's favourite grandson

Mr Phillips, a marketing consultant, was reported to have been in Scotland on business “in connection with his work for XF Medical which operates in the Covid testing arena”.

Mr Phillips is listed on Companies House as event director of Festival of British Eventing Ltd. Accounts filed in October last year show the company made a loss of £26,412.

Both he and Mrs Phillips are directors of SEL UK, a sports and events firm which is a division of an Australian company set up in 2012 by a friend of his father, Captain Mark Phillips.

Latest accounts suggest the company's losses rose to more than £300,000 in 2019.

He is also listed as a director of City Racing Ltd and alternative energy firm Fish Pond Ring Ltd, which produces hydroelectricity at the Princess Royal’s Gatcombe estate in Gloucestershire, where he and his estranged wife are said to live in separate properties.

The estranged couple are joint directors of Pheasant and Partridge Enterprises Ltd, an events firm that sets up shoots and had net assets of £97,000 in 2020.