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| Version 2 | Version 3 |
|---|---|
| Deadline for $24m Leibovitz loan | Deadline for $24m Leibovitz loan |
| (about 8 hours later) | |
| US photographer Annie Leibovitz could lose the rights to her images if she does not pay back a $24m (£14.5m) loan by a Tuesday deadline. | |
| Ms Leibovitz, 59, has made millions from her images of celebrities and world leaders. | Ms Leibovitz, 59, has made millions from her images of celebrities and world leaders. |
| But she has several large mortgages and has recently faced a big lawsuit. | But she has several large mortgages and has recently faced a big lawsuit. |
| In 2008 she consolidated her debts with Art Capital Group using her work and properties as collateral. If she files for bankruptcy, she could lose both. | In 2008 she consolidated her debts with Art Capital Group using her work and properties as collateral. If she files for bankruptcy, she could lose both. |
| New York-based Art Capital Group, which issues loans against collateral of fine art and property, sued Ms Leibovitz in July for breach of contract. | |
| It argued that the photographer breached the contract by refusing to allow real estate experts into her properties to appraise their value and also by blocking the firm from selling her photographs. | It argued that the photographer breached the contract by refusing to allow real estate experts into her properties to appraise their value and also by blocking the firm from selling her photographs. |
| "We have clear contractual rights and will protect them in any scenario," ACG spokesman Montieth Illingworth was quoted as saying by the Associated Press last week. | "We have clear contractual rights and will protect them in any scenario," ACG spokesman Montieth Illingworth was quoted as saying by the Associated Press last week. |
| "Our preference is for this to be resolved," the spokesman added. | "Our preference is for this to be resolved," the spokesman added. |
| Matthew Hiltzik, Ms Leibovitz's spokesman, has said her "attention remains on her photography and on continuing to organise her finances". | Matthew Hiltzik, Ms Leibovitz's spokesman, has said her "attention remains on her photography and on continuing to organise her finances". |
| Multi-million mortgages | Multi-million mortgages |
| Annie Leibovitz's most famous images include a photograph of John Lennon taken hours before he was assassinated, and a nude portrait of the pregnant actress Demi Moore for the cover of Vanity Fair magazine. | Annie Leibovitz's most famous images include a photograph of John Lennon taken hours before he was assassinated, and a nude portrait of the pregnant actress Demi Moore for the cover of Vanity Fair magazine. |
| But the millions she has made from her work have been accompanied by a history of unpaid bills and taxes. | But the millions she has made from her work have been accompanied by a history of unpaid bills and taxes. |
| She has multimillion-dollar mortgages on properties she owns in New York. | She has multimillion-dollar mortgages on properties she owns in New York. |
| And her plans to renovate three town houses in Manhattan's Greenwich Village landed her with a $15m (£9m) lawsuit from a neighbour. | And her plans to renovate three town houses in Manhattan's Greenwich Village landed her with a $15m (£9m) lawsuit from a neighbour. |