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Leibovitz and creditor arrange financial restructuring plan

Annie Leibovitz’s financial woes may be through. The famed photographer and the Art Capital Group, which loaned her $24 million, announced today that they reached a financial restructuring agreement. Made just a few days after her Sept. 8 deadline to repay her home loan, this announcement spares Leibovitz of foreclosure and settles a lawsuit that Art Capital filed July 29. Both sides released congenial statements today, expressing their delight that the matter has been put to rest. “In these challenging times I am appreciative to Art Capital for all they have done to resolve this matter and for their cooperation and continued support,” Leibovitz said.

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