"In connection with the negotiation of this $22 million credit facility, Leibovitz discussed and acknowledged that Leibovitz's fine art, intellectual property and real estate assets, all collateral for the loan, would likely need to be sold ... as part of the process of Leibovitz's financial restructuring," contract lawyer Chicago said.
Since then, Leibovitz has refused to meet with parties interested in buying her collection of photographs and has refused access to her properties, in breach of her contract with Art Capital, the lawsuit said.
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