Michael Douglas fights with ex-wife over Wall Street sequel paycheck

08/24/2010 by Kristina Lopez

A recent throat cancer diagnosis is not the only problem on Michael Douglas plate. The actor is involved in a court battle with his ex-wife, Diandra Douglas, over his earnings from the upcoming film Wall Street: Money Never Sleeps, reports The Associated Press.

A lawyer representing the actors ex-wife claims Diandra Douglas is entitled to 50 percent of his earnings from the Wall Street sequel because of their divorce agreement in 2000.

According to her attorney, Nancy Chemtob, the agreement gives the former Mrs. Douglas rights to share in the proceeds from spin-offs and projects related to the work the actor did while they were married.

The couple's 23-year union ended in a multi-million dollar divorce settlement. Diandra Douglas has made $6.3 million since their divorce from her stake in his residual proceeds from other projects, according to The Associated Press. The actor later married Catherine Zeta-Jones in Nov. 18, 2000.

Michael Douglas lawyer, Marilyn B. Chinitz, argues that the divorce agreement doesnt apply to the sequel because - at the time of their split - there was no guarantee that there would be a Wall Street sequel. There was also no guarantee that Douglas would star in the film if a sequel was ever made.

When does it stop? ... She's not Mrs. Michael Douglas anymore, Chinitz said to a Manhattan judge on 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."

Chemtob replied to the accusation saying, 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."

Though neither Douglass was in court Tuesday, the former couple has appeared in court together recently for their son's drug possession trial.

Cameron Douglas was sentenced to five years in prison on April 20.

During a May interview with The Today Show, Douglas talked about his son's troubles saying, "Ive taken blame about being a bad father. He added, as far as his mother [Diandra] was concerned, she was a very young mother when she had Cameron, and her skills were limited to such an extent."