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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