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Leibovitz Update

By Intellectual Property Law, Esq.

This week's New York magazine has a lengthy story on Annie Leibovitz's legal troubles. Felix Salmon says "Art Capital did not ... simply have $24 million lying around when it extended the loan to Leibovitz. As a result, it sold part of the loan to other investors, including Goldman Sachs. And Goldman Sachs, while it?s happy to make lots of money, does not want to be painted as a predatory lender. So Goldman is now Leibovitz?s best hope: if Goldman can buy out Art Capital, it might be able to come to a more Annie-friendly agreement." And the Art Market Monitor adds some thoughts: Art Capital Group Negotiates with Goldman Sachs Through Bloomberg.

Full post as published by The Art Law Blog on August 18, 2009 (boomark / email).