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Annie Leibovitz loses her artwork

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Annie Leibovitz artwork: Angelina Jolie and son Maddox

Famous celebrity photographer Annie Leibovitz might lose her art photography pieces and rights for her art to Art Capital after breaching the contract and failing to pay her $24 million loan.

Last year Ms. Leibovitz put her art, intellectual property and real estate assets up as collateral for her massive debt.

Annie Leibovitz artwork: Julie Andrews and Abigail Breslin

The deadline for paying back was Tuesday but the photographer failed to repay but blocked the company’s rights to sell her property and works. Annie also refused to let estate brokers visit her properties or show them to potential buyers.

Art Capital is now suing the photographer for breach of contract. Annie and her lawyers have to respond to the lawsuit until October 1, 2009, reported.

Annie Leibovitz artwork: John Lennon and Yoko Ono

If Leibovitz loses rights, she’ll also lose all her artwork collection that besides many other beautiful photography pieces includes a super scandalous photo of 15 year old Miley Cyrus posing in nothing but a bed sheet for Vanity Fair.

Annie Leibovitz artwork: Miley Cyrus for Vanit Fair, 2008

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September 9th, 2009
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