Meryl Streep allegedly turned down the chance to wear a Chanel dress to this year's Oscars because the brand refused to pay her.

Meryl Streep

Meryl Streep

Karl Lagerfeld - who is the head designer and creative director of the lavish fashion house - had been working hard to create a beautiful embroidered silk gown from his recent collection for the 67-year-old actress to wear to the glamorous ceremony, held at the Dolby Theatre in Los Angeles, on Sunday (26.02.17) night when she reportedly decided to pull out of the agreement over cash.

Speaking to WWD.com, Lagerfeld said: "I made a sketch, and we started to make the dress (but then I get a phone call from her team a few days later which said): 'Don't continue the dress. We found somebody who will pay us.' After we gift her a dress that's 100,000 euros, we found later we had to pay [for her to wear it]. We give them dresses, we make the dresses, but we don't pay."

Meryl is no doubt determined to look her best at the Academy Awards as she's nominated for her 20th golden statue this year for her role in 'Florence Foster Jenkins' but she will need to fight off stiff competition from Natalie Portman and Emma Stone if she wants to bag Best Actress and be in with the chance of reeling off her acceptance speech in front of the world.

This year's ceremony will be hosted by Jimmy Kimmel and Jamie Dornan, Dakota Johnson, Halle Berry, Scarlett Johansson, Chris Evans and Hailee Steinfeld are among the celebrities who will present the gongs to the winners.

'La La Land' leads the nominations with 14 nods - equalling the record set by 1997 movie 'Titanic' - in categories including Best Picture, Best Original Screenplay, Best Cinematography, Best Sound Editing, Best Sound Mixing and Best Production Design.

The musical's leading man, Ryan Gosling, is in the running for Best Actor but faces competition from 'Manchester By The Sea' star Casey Affleck, 'Hacksaw Ridge's Andrew Garfield, 'Captain Fantastic's Viggo Mortensen and 'Fences' actor Denzel Washington.

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