Photog Annie Leibovitz Could Lose IP Over $24M Loan

Law360, New York (September 8, 2009, 6:37 PM EDT) -- Celebrity portrait photographer Annie Leibovitz is in danger of defaulting on a $24 million loan and perhaps losing the copyright to every picture she has ever taken.

The loan came due on Tuesday. But as of press time that evening, neither a representative for Leibovitz nor a representative for lender Art Capital Group could comment on whether a resolution had been reached.

According to a lawsuit that Art Capital Group filed in July in New York state court, Leibovitz agreed to make the lender her “irrevocable...
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