What's It Worth? by Leslie Hindman

Leibovitz risks her photographs for $24 million loan

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Leslie Hindman on 09.16.09 at 4:44 PM | no comments |
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Acclaimed photographer Annie Leibovitz could lose the copyrights to her life's work if she cannot make payments to a $24 million loan that came due last week.  Leibovitz took out a $24 million loan with the Art Capital Group using the copyright on her photographs and real estate as collateral. The two parties have agreed to an unspecified extension, allowing Leibovitz to avoid filing for bankruptcy.

Art Capital has also sued Getty Images for an allegedly improperly contract with Leibovitz, preventing the company from selling her photographs for an estimated $50 million.

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