Here's famed and in debt photographer Annie Leibovitz strolling through Manhattan on Tuesday (left) -- and lovable Big Bird from "Sesame Street" earlier this year (right).



One of them wears sensible shoes.

We're just sayin'.

Famed photog Annie Leibovitz has managed to stave off losing her entire legendary portfolio -- but there's still the pesky matter of the $24 million she owes.

Leibovitz got so deep into financial debt, she took out the loan last year and put up her homes -- and her entire photo library -- as collateral.

Art Capital Group has agreed to withdraw its lawsuit against Leibovitz for failing to pay back her loan on time. They've agreed to restructure their agreement and push back the due date -- which was last Tuesday.

In the world of high-end photography, Annie Leibovitz's portfolio is the equivalent of The Beatles' catalog -- and she's in danger of losing it all.



Leibovitz, who took the infamous last photo of John Lennon before he was assassinated, is facing catastrophic financial problems -- if she doesn't pay back a $24 million loan by Tuesday, she'll lose the rights to every big photo she's ever taken. The list includes that controversial Miley Cyrus photo from last year, the pregnant Demi Moore Vanity Fair cover, the cover of Bruce Springsteen's "Born to Run" -- and really every interesting VF cover for the last 20 years or so.

In classic Michael Jackson-esque form, Leibovitz sunk deep into debt and then got a loan using her photo catalog (estimated at $40 million) and homes as collateral.

Tuesday is D-Day.

Like a queen probably should, Queen Elizabeth was not amused when photographer Annie Leibovitz asked her to doff her tiara. But, contrary to reports, the monarch did not storm off the photo set in a royal huff.

BBC camerascaught Queen Elizabeth in a rather uncharacteristic moment of pique while being shot by Leibovitz for a portrait. The famed photog suggested that QE2 take off her tiara because the shot would be "less dressy" without it, slightly absurd given that her majesty was already wearing layers of elaborate robes.

"Less dressy? What do you think this is?" snaps the Queen, referring to her Garter robe.

In a BBC promo for a documentary about the Queen, it looks like she ditches the shoot, muttering to a lady-in-waiting, "I'm not changing anything. I've had enough dressing like this, thank you very much." But the BBC had to grovel at the Queen's feet today, admitting that that episode actually took place before the photo shoot, and that the Queen didn't, in fact, throw a tantrum.