Annie Leibovitz Reaches Settlement with Lenders
Popular photographer Annie Leibovitz has been in a bit of financial trouble lately as she was recently sued by Art Capital Group for not cooperating in selling her assets to pay off a $24 million loan! Thankfully, she has reached a settlement with the lenders. Leibovitz and the financial company that she has been working with have come to an agreement that will allow the photographer to purchase the rights back to her photos…
Popular photographer Annie Leibovitz has been in a bit of financial trouble lately as she was recently sued by Art Capital Group for not cooperating in selling her assets to pay off a $24 million loan! Thankfully, she has reached a settlement with the lenders.
Leibovitz and the financial company that she has been working with have come to an agreement that will allow the photographer to purchase the rights back to her photos.
Now while a financial amount has not been disclosed, what could be the result of this deal is just an extension date for her loan repayment. Thus, winning time to make her payments.
In addition a date has not been publicly released, so it is hard to determine how much time Leibovitz actually has to repay the monies owed. So whether it is a thirty day extension or a year has not been revealed.
Leibovitz released a statement saying, “In these challenging times I am appreciative to Art Capital for all they have done to resolve this matter and for their cooperation and continued support.”
See, even celebrities are suffering through these tough economic times. Big props to Leibovitz for avoiding bankruptcy!
Annie Leibovitz Photos
Annie Leibovitz Video
Photos: PNPwww.wenn.com, Dan Jackman www.wenn.com