In July 2009 the artist was sued by Art Capital, whom she owed a large sum of money in repayment of a loan. In particular, the artist had allegedly refused to cooperate in the sale of certain of photographs (as well as various pieces of real estate), which presumably had been offered as collateral for the loan. That segment of the legal saga was resolved in September 2009, when Leibovitz paid an unspecified amount in exchange for regaining control of these assets, in exchange for which the lawsuit was dropped and the loan was extended.
Now, as reported in Bloomberg.com on March 13, under the title "How Leibovitz Found New Partner for $24 Million Debt, Archive", a new financial actor has come on stage to assist Ms Leibovitz. According to the report, an LA-based private equity firm called Colony Capital reached agreement on March 8 with Art Capital. In its place, the artist has entered into a new agreement with Colony Capital. The details of the new arrangement were not revealed, but the report suggests that Colony could see income from both the sale of the artist's current photographs as well as enabling Leibovitz to renew her artistic endeavors and thereby to get a cut from revenues received from sales of such future photographs.