Executives at Brunswick Capital Partners LP filed a lawsuit against the snapper on Friday (02Apr10), accusing her of owing $803,000 (£535,000) for arranging a deal to help manage her money woes.
Leibovitz was said to have signed the deal with U.S. private equity firm Colony Capital last month (Mar10), when she was facing the prospect of selling away the rights to her portfolio to pay off a $24 million (£16 million) debt.
The contract allowed Leibovitz to retain total control of her photographs, worth an estimated $40 million (£27 million), while Colony experts agreed to manage her debt and market her life’s work, reports the Associated Press.
The suit, filed in Manhattan state court in New York, declares, “As a result of its diligent efforts, Brunswick Capital successfully found several interested and viable investors” for Leibovitz, including Colony.
Leibovitz has made a name for herself taking portraits of royalty and stars including Demi Moore, John Lennon and Miley Cyrus.