For Michael Douglas' Ex-Wife: Greed Isn't Always Good
Chalk one up for Gordon Gekko.
A Manhattan judge has dismissed Diandra Douglas' lawsuit against ex-husband Michael Douglas. Diandra Douglas wanted a part of the earning from the sequel of "Wall Street," but the judge found that the case belongs in California. Their original multimillion-dollar divorce agreement was made in 2000 in California. They had been married for 23 years. Douglas is now married to actress Catherine Zeta-Jones.
Diandra Douglas argued that she should get half of Michael Douglas' share of "Wall Street: Money Never Sleeps" under the terms of their original divorce settlement, which entitled her to a portion of proceeds from movies completed while they were married. According to Diandra, their settlement also entitled her to proceeds from "spinoffs." The Wall Street sequel has grossed over $100 million.
A New York judge said that extending Diandra Douglas' rights to proceeds from new movies goes too far. "After balancing all competing interests and factors, the California court is the more convenient forum for this matter to be tried," state Supreme Court Justice Matthew F. Cooper wrote, the Washington Post reports.
Naturally Diandra Douglas plans to appeal the decision. Michael Douglas is quite pleased with the ruling, according to his attorney Marilyn B. Chinitz. However, Nancy Chemtob, attorney for Diandra Douglas, disagreed with the decision, contending it should be decided in New York.
Douglas has been in the news this year for other reasons, including his fight with throat cancer and the sentencing of his son Cameron Douglas, 31, who received five years in prison for dealing methamphetamine.
Still, Gordon Gekko, who famous said "Greed is good," remains one of the coolest and quotable movie characters we've seen.
- Michael Douglas's Ex-Wife Won't Get His Wall Street Money (People)
- Divorce (FindLaw)
- Marriage, Money, and Property (FindLaw)
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