Actor Michael Douglas and ex-wife Diandra Douglas ended their marriage a decade ago. But a follow-up to the popular 1980s film "Wall Street" appropriately titled "Wall Street: Money Never Sleeps" has prompted them to lawyer-up once again, the BBC reported.
Diandra is seeking half the earnings from the forthcoming film, which reprises the role of greedy antihero Gordon Gekko. She claims a clause in their divorce settlement entitles her to a portion of earnings from "spin-offs" of his films. But is the film is a "spin-off" or, as attorneys for Michael Douglas claim, merely a sequel?
This is a unique case rooted in entertainment law, but a divorce attorney in Chicago could better explain how an Illinois court would interpret such language.
Diandra Douglas received an estimated $45 million and two high-end homes in the settlement, so her attempt to gain even more from the divorce is understandably frustrating to her ex-husband.
But if the contract holds up, he may not have a leg to stand on.
A judge has not yet set a date for the ruling but the estranged couple's attorneys recently squared off in a court hearing. Marilyn B. Chinitz, representing Michael Douglas, said his ex-wife misread the contract and that a "Wall Street" sequel was not even planned while 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, representing Diandra Douglas, said she's not greedy but would like her ex-husband to honor their agreement:
"Mr. Douglas is seeking to shirk his financial responsibility that was entered into when he signed this contract."
"Wall Street: Money Never Sleeps" is scheduled to hit theaters on September 24.
Call an Illinois family law attorney if you need help putting together, or enforcing, a solid divorce agreement.
Related Resources:
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Settlement Agreements and Court Approval (FindLaw)
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Browse Chicago Family Law Attorneys (FindLaw)
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Michael Douglas' Ex Claims Cut from Wall Street 2 (FindLaw's Law & Daily Life Blog)
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