Wednesday, November 17, 2010

Overreaching, Post-Divorce Style: Michael Douglas' Ex Demonstrates "Greed is Good"

Michael Douglas divorced his ex-wife, Diandra, in California back at the turn of the century.  She reportedly received $45 million as well as rights to half Douglas' earnings from the "spinoffs" of his completed movie work.

Demonstrating the chief principle from Douglas' hit movie Wall Street, that "greed is good", Diandra filed suit in Manhattan last summer seeking half the actor's royalties from the reprise of Douglas' character, Gordon Geckko. A Manhattan Supreme Court Judge dismissed the case on procedural grounds, finding that venue was improperly laid.

The judge got it right.  Diandra's rights to Douglas' earnings would come from the terms of their divorce decree rather than a separate cause of action filed in another state.

Here at the Law Blogger, we have to wonder why Diandre's attorney advised her to file in Gotham rather than California.  The reason stated in the pleadings was that both parties currently reside in New York.

Procedural defects aside, Douglas' lawyer asserted that Diandre was not entitled to any of Douglas' earnings from his new movie to the extent they are derived from a "sequel" to the original movie and thus does not qualify as a "spinoff", as referenced in the divorce judgment.

Sequel vs Spinoff?  Sounds like Diandre's lawyers have twice let her down...

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