Michael Douglas' Ex Wants His 'Wall Street' Paycheck

By PopEater Staff Posted Aug 24th 2010 05:39PM

Michael Douglas and ex-wife Diandra Douglas

Despite being diagnosed with throat cancer, Michael Douglas refuses to delay his court battle with ex-wife Diandra Douglas over her claim that she's entitled to half his earnings from the upcoming 'Wall Street: Money Never Sleeps,' which opens Sept. 24. Diandra had offered to postpone the hearing, but "Michael declined -- he wants to get this over with as soon as possible," a source told Page Six. Lawyers representing the actor and his ex tangled in a New York court Tuesday.

The suit appears to hinge on a clause in Michael and Diandra's divorce settlement that entitles her to 50 percent of any earnings Michael receives from any movies he did -- including residuals, merchandising and ancillary rights -- during their 23-year marriage. According to Diandra's lawyers, that provision includes any "spinoffs" of Douglas' movies.

That, her camp says, should include director Oliver Stone's 'Wall Street' follow-up, in which Michael reprises his Oscar-winning role as Gordon Gekko.

But Michael's lawyer, Marilyn B. Chinitz, says his ex is misinterpreting the agreement, and it doesn't apply to the 'Wall Street' sequel because it wasn't on the horizon when the two split, and he couldn't have guaranteed that he'd be in a sequel if one were ever made.

"When does it stop? ... She's not Mrs. Michael Douglas" anymore, Chinitz told a judge Tuesday. "It's enough. 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."

Since their divorce, Diandra has made $6.3 million from her stake in residual proceeds from other past projects, Chinitz said.

Diandra's lawyer, Nancy Chemtob, says her client isn't money-hungry and isn't clinging to her ex-husband. "She has her own identity, and she's proud of it," Chemtob said. "My client is not greedy. The exact opposite is true. Mr. Douglas is seeking to shirk his financial responsibility that was entered into when he signed this contract."

Michael and Diandra's divorce remains one of the costliest in Hollywood history. The pair's split was bitter, to say the least, with Diandra accusing Michael of sex and alcohol addiction and multiple infidelities. In 2007, Forbes magazine compiled a list of the 10 most expensive celebrity divorces and listed the Douglases' at number eight. Diandra walked away with an estimated $45 million and the couple's homes in Beverly Hills and Majorca.

Michael's legal team is seeking to have the case dismissed, arguing that the suit should never have been filed in New York in the first place, as the couple's divorce was finalized in California, and that the case has no merit because 'Wall Street: Money Never Sleeps' is a sequel, not a "spinoff." "They're not the same thing," Chinitz said in an earlier hearing.

Michael and Diandra recently came together to support their son, Cameron, who was sentenced to five years in prison for his role in dealing methamphetamine and cocaine in New York City. During Cameron's April sentencing, Michael, who along with Diandra, his current wife, Catherine Zeta-Jones, and Kirk Douglas asked the judge for leniency, took a swipe at his ex-wife in a letter to the judge, describing Diandra as "a young mother without any parenting skills handed down from her own parents."

Michael has canceled his promotional appearances for 'Wall Street: Money Never Sleeps' while he undergoes radiation and chemotherapy for eight weeks to destroy the throat tumor.

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Tags: Michael Douglas

Comments

(200)

Tuesday 24 August

By wisdom

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I warned mike years ago this would happen.I have been reading for stars for years

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By Aukake

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By Beverly

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Wednesday 25 August

By kenneth Sonntag

Sure you did!!

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By MB

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By Bob

I get tired of the person without the talent trying to get max out of marriage stop marrying these people who don't have as much to loose as you do by the time you break up you can't remember why you were together in the first place

By mw

She deserves nothing, didn't she already get enough money from the divorce?

By Irish Mist

What did she do blow her settlement? Not a single copper cent should she get.

By J Johnson

She already got 6M+. WTF can't she live on that? Most people get a lot less...

By swift

I agree. Not another dime!!!

By Jeff

Sheesh! She recieved 45 millions dollars yet she is demanding residuals from the Wall Street sequel. This movie was only made because of the financial collapse of 2008. What a money hungry broad! She must have blown the 45 million already and thats not counting the money she's making off of all the residuals from his other movies.

By BTDT

She'll be grabbing jewlry out of his coffin when he dies.

By rosie

michael you are in my blessings,i know u are very strong person i know that u will pull out of this piece of cake,your family your friends are with u all the way,god bless!!

By Kathy

Michael Douglas is a geat actor, he does not deserve this, he has a new wife and new life. Get over it X. I have been to Bermuda many times, one of these trips I hope to see him and his beautiful wife. My thoughts and prayers are with you Michael.

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