Famed New York photographer Annie Leibovitz’s Perils of Pauline financial condition just took a turn for the worse, again. A New York investment firm has sued the 60-year-old for more than $800,000 in unpaid fees for helping her get out of her last financial jam.
Brunswick Capital Partners LP said in New York State Supreme Court suit that Leibovitz hired the firm last year to find investors who could refinance her debts.
Los Angeles-based private equity firm Colony Capital stepped up and Brunswick claimed it was owed a finders fee for the deal, plus reimbursement for services and expenses.
Brunswick “introduced Colony Capital to defendants,” the suit said.
Colony put together a $40 million loan in early March, according to the suit, of which Brunswick claims it’s owed a 2 percent “success fee.” The firm also says Leibovitz owes more than $315,000 in fees.
The photographer’s finances unraveled last year when Art Capital Group threatened to sue her and seize control of her photography collection as well as two Manhattan properties for violating the terms of a $24 million loan.
As part of a deal involving Colony Capital, Leibovitz was able to buy back control of her work, which had been put up as collateral.
The renowned photographer has snapped portraits of numerous famous people, from John Lennon to Michelle Obama and Miley Cyrus.
She’s earned tens of millions of dollars in fees over the years as one of the nation’s most successful celebrity photographers, and the depth of her financial troubles shocked those who know her.