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Annie Leibovitz sued against value of entire collection
The Telegraph ^ | 7/30/2009 | Tom Leonard

Posted on 07/30/2009 7:51:03 PM PDT by bruinbirdman

The celebrity portrait photographer Annie Leibovitz is being sued by an art finance company which lent her $24 million against the value of her entire collection and her two homes.

In a lawsuit filed on Wednesday in the New York State Supreme Court, Art Capital Group claimed Leibovitz had violated the terms of their agreement, engaging in "boldly deceptive conduct" to avoid paying hundreds of thousands of dollars.

The company asked a judge to force Leibovitz to co-operate with the person assigned to selling her copyrights and organising the sale of her properties in Manhattan and upstate New York, so she can pay back the loan.

Leibovitz, 59, whose photographic subjects have included the Queen and Michelle Obama, approached Art Capital in June last year about her "dire financial condition" arising from mortgages, tax and unpaid bills, the lawsuit said. She initially borrowed $22 million but later increased it to $24 million.

"In connection with the negotiation of this $22 million credit facility, Leibovitz discussed and acknowledged that Leibovitz's fine art, intellectual property and real estate assets, all collateral for the loan, would likely need to be sold ... as part of the process of Leibovitz's financial restructuring," the lawsuit said.

Art Capital claims Leibovitz has refused to allow estate agents into her homes so they can value them nor will she meet with people interested in buying her photographic collection.

Rachel Williams, the photographer's lawyer, declined to comment on the lawsuit.

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; News/Current Events
KEYWORDS: art; debt; lawsuit; leibovitz
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To: savagesusie

21 posted on 07/30/2009 8:41:54 PM PDT by Rebelbase (Obama--POtuS.)
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To: bruinbirdman; All

Am I crazy, or does she REALLY look a lot like Ralph Nader in drag ???


22 posted on 07/30/2009 8:48:41 PM PDT by Lmo56
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To: bruinbirdman

Let me get this straight...The Company loaned her the money based on her word? She wouldn’t let them in her home so they just took her word for it? And now they’re mad at HER? This is absurd.


23 posted on 07/30/2009 9:15:52 PM PDT by Hildy
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To: Lmo56

24 posted on 07/30/2009 9:16:46 PM PDT by bruinbirdman ("Those who control language control minds.")
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To: bruinbirdman
This butt-ugly dyke sounds like she did a Michael Jackson, who borrowed against the Beatles Catalog.

However, lefties are saying Annie is a victim of the "gay tax", by which she was screwed when her ex-lover Susan Sontag died and left her properties in her will. The problem is, even with gay marrage, they had broken up and were living with others, so it doesn't even apply.

25 posted on 07/30/2009 9:20:53 PM PDT by FreepShop1
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To: Suz in AZ
So who’s the guy?

I think it's Howard Stern when he had his hair dyed yellow.

26 posted on 07/30/2009 9:22:40 PM PDT by Junior_G
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To: bruinbirdman

She looks like my old hippie-uncle.

Seriously!!


27 posted on 07/30/2009 9:24:33 PM PDT by djf (The "racism" spiel is a crutch, those who unashamedly lean on it, cripples!)
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To: NoRedTape
No question about it, the girl can take a picture. If I could afford her, well......
28 posted on 07/30/2009 9:26:48 PM PDT by cmsgop (Another proud graduate of the Larry Storch school of posting)
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To: NoRedTape
Annie's done some GREAT work:

I still respect a mediocre painter or sketch artist over a "great" photographer. Annie is one of the luckiest broads in the world to have branded herself as the preferred person to point cameras at celebrities and push a button. The last two pictures you posted looked like simple point-and-shoot photos that anybody could have done. The picture of the Queen is quite nice though. Putting flamesuit on just in case.

29 posted on 07/30/2009 9:30:43 PM PDT by Junior_G
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To: Junior_G

I go with Nader.

30 posted on 07/30/2009 9:47:27 PM PDT by bruinbirdman ("Those who control language control minds.")
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To: Junior_G
"Annie is one of the luckiest broads in the world to have branded herself as the preferred person to point cameras at celebrities and push a button."

Maybe posthumously they are worth some more bucks?

yitbos

31 posted on 07/30/2009 9:51:26 PM PDT by bruinbirdman ("Those who control language control minds.")
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To: Junior_G

40 years as a keen amateur photographer here - not that it means that much but -

Its a rather different skill than drawing, etc., but it is surprisingly difficult to get a “wow” picture like some of these people do on a regular basis.

Even in the case of a revealing portrait that LOOKS like it could have been taken by Joe Blow with a point&shoot - well, Joe Blows rarely take such pictures even when they try. It just ain’t that easy.


32 posted on 07/30/2009 9:51:51 PM PDT by buwaya
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To: Junior_G
"I still respect a mediocre painter or sketch artist over a "great" photographer. Annie is one of the luckiest broads in the world to have branded herself as the preferred person to point cameras at celebrities and push a button. The last two pictures you posted looked like simple point-and-shoot photos that anybody could have done. The picture of the Queen is quite nice though. Putting flamesuit on just in case."

I agree with you. Thing is with Leibovitz is that she became the "in thing" in terms of photography. She has a great eye for that, and it drew some big celebs. She got some great shots. But............20+Million worth? I don't get that.........

33 posted on 07/30/2009 9:54:20 PM PDT by NoRedTape
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To: Rebelbase

That is hilarious!!!!


34 posted on 07/30/2009 10:35:57 PM PDT by savagesusie
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To: buwaya

It is that easy. She’s not one in a million, she’s more like one in a hundred photographers. Her great talent was access not photography.

Marc Hauser is as good, but you likely never heard of him.


35 posted on 07/31/2009 4:29:36 AM PDT by 1010RD (First Do No Harm)
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