Leibovitz keeps copyright with loan deal

Annie Leibovitz has been given more time to pay off a loan.

According to the BBC, Leibovitz borrowed the money to pay off her debts, but used her properties and the copyright to her images as security.

She was originally given until September 8 to repay the money, but missed the deadline.

However, Art Capital Group has agreed to restructure the $24m (£14.5m) loan and withdraw a lawsuit for breach of contract.

Under the new deal, she will also retain copyright of her images.

In a statement, Leibovitz said: "In these challenging times I am appreciative to Art Capital for all they have done to resolve this matter and for their co-operation and continued support."

Meanwhile, Art Capital chief executive officer Ian Peck said: "We are gratified to be able to further assist Ms Leibovitz to achieve financial stability."

Leibovitz is reportedly facing another lawsuit over copyright claims. In April, she was allegedly threatened with involuntary bankruptcy.