The fate of Annie Leibovitz‘s life’s work and four homes was unclear Tuesday night as the deadline passed for the celebrity shutterbug to repay a $24 million loan.
Leibovitz’s lawyers and their counterparts at Art Capital Group, a Manhattan arts lender, remained locked in negotiations, sources said. “Talks are still going on,” a source with knowledge of the case said.
Leibovitz spokesman Matthew Hiltzik and Art Capital spokesman Montieth Illingworth both declined to comment.
Still in doubt is whether Leibovitz, 59, will lose her three Greenwich Village townhouses, a sprawling home in upstate Rhinebeck and the copyright to every picture she has taken or will take in the future.
Leibovitz’s portfolio and properties are estimated to be worth about $80 million.
The debt-ridden photographer put those up for collateral when she secured a loan with Art Capital last year to help her escape her colossal financial woes.
The lenders sued Leibovitz in July, accusing her of flouting the terms of the deal.
The lawsuit claimed she barred real estate agents from her homes to assess their value and blocked the firm from selling her photos.
Leibovitz, whose richly styled shots of celebrities regularly grace the cover of Vanity Fair, is widely considered one of the world’s most renowned photographers.
