Tom Cruise and Katie Holmes Settle Divorce

In what may be the fastest divorce to hit the celebrity circuit in quite some time, Tom Cruise and Katie Holmes have just reached a divorce settlement. (A quick reminder: Holmes filed her divorce petition less than two weeks ago.)

Holmes’ lawyer, John Wolfe, released the following statement regarding the Cruise/Holmes divorce to People earlier today:

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.

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.

We thank Tom’s counsel for their professionalism and diligence that helped bring about this speedy resolution.

There is no word yet on the exact terms of the settlement, but Holmes and Cruise definitely played nice. Reports from the weekend indicated they were in settlement talks with their attorneys and hoped to reach an agreement without going to court. Sources close to the pair indicated that the only sticking point where talks could have come to an end was regarding custody and visitation rights for Suri. The fact that they signed a settlement indicates they came to an amicable agreement.

The two had made a joint statement earlier today, which said:

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.

While the language does not directly address the rumors that the divorce was brought on by Holmes’ desire to separate Suri from the Church of Scientology, it does seem to acknowledge the extensive buzz around this topic.

More to come if/when details of the settlement are leaked!