by Associated Press
Published: Wed, September 09, 2009 - 3:25 am CST
Last Updated: Wed, September 09, 2009 - 3:31 am CST
NEW YORK (AP) - The deadline for celebrity photographer Annie Leibovitz to repay a $24 million loan passed Tuesday night without word from either involved party.Leibovitz risked losing the lucrative copyright to her images if she didn't pay back the loan. The deadline was 11:59 p.m. Tuesday.
The lender, Art Capital Group, sued the 59-year-old Leibovitz in July, claiming she breached an agreement that authorized it to act as the agent in the sale of her photography and real estate.
Art Capital is a New York City-based company that issues short-term loans against fine and decorative arts and real estate.
The famed photographer put up as collateral her three historic Manhattan townhouses, a sprawling upstate New York property and the copyright to every picture she has ever taken - or will take - to secure the loan with Art Capital.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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