Photographer Annie Leibovitz has denied that she breached an agreement over $24m (u00a314.5m) she borrowed using the rights to her photographic archive and the value of her properties as collateral.

Photographer Annie Leibovitz has denied that she breached an agreement over $24m (£14.5m) she borrowed using the rights to her photographic archive and the value of her properties as collateral.

Leibovitz has photographed some of the most famous people in the world, including The Queen.

Earlier this year Leibovitz handed copyright in her images to New York-based firm Art Capital as a result of her ‘dire financial position’, according to press reports.

However, a spokesman for the photographer denies that Leibovitz has violated the terms of the loan agreement, as stated in a lawsuit filed by Art Capital in the New York State Supreme Court.

In a statement emailed to reporters in the United States in the past few hours, the photographer’s spokesman Matthew Hiltzik said: ‘There has been tension and dispute since the beginning. Annie is in the same shoes as many other people involved with Art Capital.

‘For now, her attention remains on her photography and on continuing to organise her finances.’

Art Capital responded by saying that the firm was ‘merely defending its contractual rights’.

Leibovitz is represented in the UK by Neil Burgess, founder of London-based nbpictures.

Burgess told Amateur Photographer that he has nothing to add.

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