beepy Posted August 1, 2009 Share Posted August 1, 2009 <p>I think this article is a follow up to <a href="http://www.nytimes.com/2009/02/24/arts/design/24artloans.html">a report by the NY Times</a> some months back that Leibovitz had take a large loan out using her copyrights as collateral. The article talked about using art as collateral - but the practice is very often of collectors using their collection. The Leibovitz connection was the most prominent case of a successful artist leveraging of all things their copyrights. The current article:</p><blockquote><p><a href="http://www.nytimes.com/2009/08/02/fashion/02annie.html">For Annie Leibovitz, a Fuzzy Financial Picture</a></p></blockquote><p>say that on July 29 she was sued for non-payment against that loan given by Art Capital Group described in the first article.<br>Amazing.<br>This is pretty much like missing a house payment with much less regulation around foreclosure.</p> Link to comment Share on other sites More sharing options...
muaythai Posted August 1, 2009 Share Posted August 1, 2009 <p>Bankruptsy soon, sucks to be her.<br> Ach, she'll have a pretty good contact book and will be earning again. It could be worse.</p> Link to comment Share on other sites More sharing options...
sknowles Posted August 3, 2009 Share Posted August 3, 2009 <p>The NY Times story kinda' paints the right picture, great photographer, really bad lmoney manager. She's no different than the many other American currently swamped and sinking in debt, only hers is one to two orders of magnitude worse and obvious. And those holding the paper aren't always compassionate or understanding when it comes to money. They're simply greedy, even if the debtor wasn't really thinking. But then she made the decisions and signed the papers. She didn't like through all the what if's, like if it all goes south, especially now in a depressed economy. I wish her luck to get out with ownership of her work. I'd hate to see her work become another corporate product to market for more money.</p> Link to comment Share on other sites More sharing options...
nyphotopro Posted August 3, 2009 Share Posted August 3, 2009 <p>That's a real shame. Annie is such a terrific photographer. If <strong>she's</strong> having trouble making it just imagine how incredibly difficult it is for ordinary shooters to make a living in photography!</p> Link to comment Share on other sites More sharing options...
starvy Posted August 4, 2009 Share Posted August 4, 2009 <p>i hope she manages to fend off the vultures.</p> Link to comment Share on other sites More sharing options...
aperture images Posted August 5, 2009 Share Posted August 5, 2009 <p>Stay Humble and Stay safe!!</p> Link to comment Share on other sites More sharing options...
JDMvW Posted August 6, 2009 Share Posted August 6, 2009 <p>A German take on the situation (in German) <a href="http://www.spiegel.de/kultur/gesellschaft/0,1518,640789,00.html">link</a></p> Link to comment Share on other sites More sharing options...
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