Leibovitz Buys Back IP Under Deal With Lender

Law360, New York (September 11, 2009, 5:44 PM EDT) -- Celebrity portrait photographer Annie Leibovitz has reached an agreement that will allow her to buy back the copyrights to all of her pictures and extend the maturity date on the $24 million loan that she nearly defaulted on.

The loan was originally due on Sept. 8. At that time neither Leibovitz nor lender Art Capital Group commented on whether a resolution had been reached.

But on Friday, the parties released a joint statement, saying Leibovitz had purchased from Art Capital its rights to act as exclusive...
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