Katie Holmes and Tom Cruise Reach Out-of-Court Divorce Settlement

July 9, 2012 By:
Katie Holmes and Tom Cruise Reach Out-of-Court Divorce Settlement

In what might be the quickest divorce in Hollywood history, Tom Cruise and Katie Holmes have just settled their divorce out of court and have reached an uncharacteristically amiable agreement, for Hollywood standards, that is.

“The case has been settled and the agreement has been signed,” says Katie’s lawyer Jonathan W. Wolfe, “We thank Tom’s counsel for their professionalism and diligence that helped bring about this speedy resolution.”

Speedy is right! They announced the split last week!

Katie’s lawyers would also like to congratulate Katie on her recent divorce? Err, their words, not ours.

“We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life,” says Wolfe.

Tom's attorney Bert Fields confirms the news in a statement to Hollyscoop, “The Tom Cruise–Katie Holmes case has been settled with a signed agreement.
Tom is really pleased we got there, and so am I.”

Earlier today, Katie and Tom released a joint statement saying they’ve reached a settlement and some other vague stuff about Suri’s “best interests.”

“We are committed to working together as parents to accomplish what is in our daughter Suri’s best interests. We want to keep matters affecting out family private and express our respect for each other’s commitment to each of our respective beliefs and support each other’s roles as parents,” says a joint statement from the two actors reps.

We’ve reached out to Katie’s lawyers for the final verdict on their custody battle. Katie asked for full legal custody over Suri, so no idea if their “resolution” grants Katie that right.

A source told People that the ideal arrangement is that Suri will live in New York with her mother and Tom will get generous visitation rights.