Financier Art Capital Group is suing famous celebrity photographer Annie Leibovitz for not abiding by the terms of a $24 million loan. According to the NY Daily News, Leibovitz –as per conditions of the loan– would need to sell her photographs and homes in Greenwich Village and Rhinebeck, N.Y as part of a “financial restructuring.” The lawsuit accuses Leibovitz of ignoring invoices totaling hundreds of thousands of dollars, and of not allowing real estate agents into her homes so they could be appraised and then sold to pay back the loan. Leibovitz in recent years has been hit with multiple lawsuits over unpaid bills and a bill from the state of New York for unpaid taxes.
Jul 30
2009
04:58 PM ET
Annie Leibovitz sued over $24 million loan
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Subprime lending even in photography industry…