As we previously mentioned, famed photographer Annie Leibovitz has been having some MAJOR financial woes.
She was recently sued by Art Capital Group for failing to cooperate in the selling of her assets to pay off a $24 million loan, but luckily for her they have withdrawn the lawsuit!
Leibovitz and Art Capital have come to a mutual agreement in which the photographer has purchased back the rights “to act as the exclusive agent in any sale of her fine art, intellectual property and real estate assets.” In return, Art Capital has agreed to extend the deadline for loan repayment.
We don’t know how much she paid, but it must be a pretty sizable amount if the bank is being generous with the deadline. Although they haven’t stated when the new deadline is, so it’s unknown how much time Annie has to get her shiz together!
Leibovitz kissed some banker ass issued 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.”
Phew, what a close call! Not only were all 4 of her homes at risk, but all the rights to her past AND future work!
You got a pretty lucky break there, Annie, so maybe it’s time to cut back a bit?
Surely 2 homes are enough?
[Image via PNP / WENN.]
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