The marriage of actor Michael Douglas and Diandra Douglas was over 10 years ago but a sequel to the popular 1980s film "Wall Street" appropriately titled "Money Never Sleeps" has brought the pair back into court, the BBC reported.
This blog covered the news that Diandra is seeking half the earnings from the forthcoming film, claiming a clause in their divorce settlement in which she is entitled to a portion of earnings from "spin-offs" of his films. The question is whether the film is a "spin-off" or, as lawyers for Michael Douglas argue, a sequel.
Although this is a unique case with entertainment law underpinnings, a Georgia family law attorney could better explain the implications of such a clause.
Michael Douglas paid his ex-wife an estimated $45 million and relinquished two high-end homes in the settlement, so Diandra Douglas' attempt to get even more is understandably frustrating for the actor.
But a contract's a contract.
A judge has yet to set a date for the ruling but their attorneys recently squared off in court. Marilyn B. Chinitz, representing Michael Douglas, said her client's ex-wife misinterpreted the contract and that there were no plans for a "Wall Street" sequel when they were married:
"It's time for Ms. Douglas to move on and let Mr. Douglas move on and enjoy his life without having to concern himself with someone trying to claw back moneys that they're not entitled to."
Nancy Chemtob, the lawyer for Diandra Douglas, said her client is not greedy but simply trying to enforce their legal agreement:
"Mr. Douglas is seeking to shirk his financial responsibility that was entered into when he signed this contract."
The film, "Wall Street: Money Never Sleeps," is expected to hit movie theaters on September 24. The ruling on whether the star's ex-wife gets half of its box office take may come out around the same time.
Call an Atlanta divorce attorney if you need help crafting a solid divorce agreement.
Related Resources:
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Settlement Agreements and Court Approval (FindLaw)
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Contact an Atlanta Family Law Attorney (FindLaw)
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Michael Douglas' Ex Claims Cut from Wall Street 2 (FindLaw's Law & Daily Life Blog)
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