When Michael Douglas won an Oscar for Best Actor for 1987's "Wall Street", he was happily married to his then-wife, Diandra. However, times (and the marriage) changed, and in the late 1990s the couple went through a bitter contested divorce, complete with allegations of cheating and bad parenting, and ending with a reported $45 million award to Diandra.

Although their split was finalized more than a decade ago, Diandra has recently re-appeared in court seeking more money from her ex-husband based on a clause in the original divorce agreement awarding Diandra half of all of Michael's earnings from any "spinoffs" of the movies he made while the couple was married. Diandra claims that Michael's recent film, "Wall Street: Money Never Sleeps" is a spinoff of the 1987 film, and as such, that she should receive half of Michael's income and royalty payments.

Originally, Diandra filed the claim against her ex-husband in a New York court. However, after an initial hearing, Manhattan Supreme Court Justice Matthew Cooper ordered that the case be heard in California, where the couple's divorce was finalized in 2000. Diandra has reportedly begun to look for attorneys in the Santa Barbara area in order to comply with this request.

According to Michael's attorney Marilyn Chinitz, Diandra will lose her case regardless of the venue. Chinitz claims that the new "Wall Street" is a sequel, not a spinoff, and is therefore not included in the original property settlement. She says that California judges are more familiar with the film industry, and will recognize this distinction.

However, Diandra's attorney Nancy Chemtob disagrees, claiming that the new "Wall Street" is, in fact, a spinoff. "It's the same character, the same title, just years later," she told the New York judge.

Source: New York Post, "Diandra takes her case west", 13 December 2010