Katie Holmes & Tom Cruise: The world's fastest divorce

Jul 9, 2012 at 4:52 p.m. ET

The Tom Cruise and Katie Holmes divorce drama is already over: They signed a divorce settlement Monday after marathon negotiations with lawyers over the weekend.

Tom Cruise and Katie HOlmes come to a divorce settlement

Remind us to never get in a legal fight with Katie Holmes. The actress has settled her divorce with now ex-husband Tom Cruise just a week after she filed in New York, according to her lawyer.

"The case has been settled and the agreement has been signed. We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life," divorce lawyer Jonathan Wolfe said.

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"This result could not have been achieved without the hard work of my partner Gary Skoloff and our co-counsel Allan Mayefsky, Michael Mosberg and Larry Trachtenberg of Aronson Mayefsky and Sloan and Peter Walzer and Chris Melcher of Walzer & Melcher in California," he continued. "We thank Tom's counsel for their professionalism and diligence that helped bring about this speedy resolution."

Cruise's lawyer was a bit more subdued in his statement.

"All the lawyers and the parties are happy that it's done, the deal was closed and we wish everyone well," attorney Dennis Wasser said.

No formal details were released about the settlement, though sources say it contains arrangements to allow daughter Suri Cruise to live with Holmes in New York City with visitation for Cruise — a far cry from the sole custody she petitioned for in divorce papers.

So, did Cruise buy Holmes' silence? It sounds like it, especially since sources told US Weekly that Holmes was "dead set on keeping custody of Suri. Katie is not going to compromise on certain issues, all regarding Suri."

And Cruise wasn't willing to agree on a settlement without access to his daughter. Now, it sounds like both sides are happy.

"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 our 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," the ex-couple said in a joint statement released by their publicists.

Yawn. We were so ready for a down-and-dirty divorce fight with Scientology at the forefront.

Image courtesy PNP/WENN.com

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