Annie Up (update)

September 11th, 2009 by Sergio Muñoz Sarmiento

The Annie Leibovitz repayment drama that has occupied the minds and hearts of millions of readers has finally been settled.

Leibovitz bought back control to her photographs and real estate by renegotiating the terms of a $24 million loan from Art Capital Group, and in return Art Capital dropped its lawsuit against her.

According to Bloomberg.com, “[u]nder the agreement, Leibovitz purchased from Art Capital its right to act as an exclusive agent in the sale of the copyright to every image the photographer has ever taken as well as her three brownstones in Manhattan’s West Village and a 228- acre property in Rhinebeck, New York.”

UPDATE: September 16, 2009

Leibovitz reaches settlement with creditors.

Posted in Art Law, Copyright, Litigation | No comments

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