Annie Leibovitz, who just last year found herself on the verge of bankruptcy and more than $24 million in debt, is being sued by the very firm who helped the photographer negotiate her financial troubles.
Brunswick Capital Partners LP was hired last year to help Leibovitz dig her way out of her colossal debt — which included her entire photography collection after she had put it up as collateral. Last month, BCP struck a deal with a Los Angeles-based private equity firm which agreed to loan Leibovitz $40 million.
Now Reuters reports that BCP filed a suit alleging Leibovitz “owes Brunswick a 2 percent ‘success fee’ on the more than $40 million loan by Colony secured in early March… as well as more than $315,000 in fees for the firm’s services.”
The total lawsuit adds up to more than $815,000.