Annie Leibovitz has a lot to be thankful for today. For one, Art Capital Group has dropped a lawsuit directed at her for the $20 million loan she could not afford to pay. The Art Capital Group decided to extend the due date for the repayment of her gazillion loan and restructure the payment terms for the famous celebrity photographer. It was just last year that Leibovitz was caught up in this debt imbroglio as her intellectual property (photos) and even real estate assets came into jeopardy as she nearly set them up for collateral last year to be able to pay up all her debts.
CNN reported that although Leibovitz escaped lawsuit she has to let Art Capital Group be the "exclusive agent in the sale of her real property and copyrights". She still retains ownership of the iconic photos she had taken over the years. One of the most controversial photos by Annie Leibovitz (shown above behind her) was the undressed and very preggy Demi Moore posing for the cover of Vanity Fair in 1991. Recently, Leibovitz was accused of forcing Miley Cyrus to do distasteful poses that are too provocative for her age.