'It's time to move on' say Michael Douglas' lawyers after ex-wife files lawsuit

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The actor's lawyers hit out at Diandra Douglas - who divorced the 65-year-old star in 2000 - over her demands for 40 per cent of the money he earned from forthcoming movie 'Wall Street: Money Never Sleeps'.

Marilyn B Chinitz, Michael's lawyer, told a judge in a New York court: "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."

After the couple divorced, they agreed a settlement which allowed Diandra to receive a share of the money he made from his movies while they were together - so far earning her $6.3 million - but she claims that she should receive money from 'Wall Street: Money Never Sleeps' as it revives the character Gordon Gecko, who Michael played in 1987.

Diandra's lawyer Nancy Cemtob believes his former wife of 23 years is entitled to the money because of the agreement he signed.

She 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."

Neither Michael - who is now married to Welsh actress Catherine Zeta-Jones - or Diandra were present at the court.

The judge has not set a date for a ruling in the case.

Earlier this month Michael was diagnosed with a tumour in his throat, and is to undergo eight weeks of chemotherapy and radiotherapy treatment.