High-profile Art Finance
In late July 2009, the New York Times reported that the art finance firm Art Capital Group sued photographer Annie Leibovitz in the New York State Supreme Court for non-payment on a $24 million dollar loan, seeking damages through access to her home, negatives, and all her intellectual property rights in her photographs. In March, 2010, Colony Capital concluded a new financing and marketing agreement with Leibovitz, paying off Art Capital and removing or reducing the risks of Leibovitz losing her artistic and real estate assets.
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