I Spent a Million of Joan's Money
Daily Express 23rd July 1987
HIGH-LIVING Peter Holm admitted yesterday that he spent a million dollars on himself during his 13-month marriage to Joan Collins.
Holm, 40, who is attempting to win a half-share of the Dynasty star's £3,250,000 earnings that year, explained to a divorce court where some of the £625,000 went.
He admitted buying a house in Port Grimaud, Southern Prance, for £187,500 in his name. Another £50,000 went on a speedboat.
Holm agreed he spent an average of £12,500 a month on clothes. There was also money for "general expenses."
The couple are arguing in the Los Angeles Superior Court whether a pre-nuptial agreement giving Holm 20 per cent of Joan's gross earnings is valid. She says it is. He says it isn't.
Swedish-born Holm, 40, appeared in court impeccably dressed by Sepsi of Rodeo Drive, Beverly Hills, the world's most expensive shopping street.
He said the double-breasted grey silk suit was "a credit to my wife's good taste. She helped me pick it out."
But he got little help in court from Joan's lawyer Marvin Mitchelson in a quickfire question-and-answer session.
Holm agreed with Mitchelson that Joan had told him that she was extremely anxious to protect herself financially.
"She told you she's had it tough in her life. She told you she had lost a lot of money along the way. She told you men had used her," said Mitchelson.
Holm said: "Yes she said these things. I felt for her. I felt bad that she had been treated in this way."
Mitchelson barked at him: "You told her you wouldn't do something like this to her?"
Judge Earl Riley refused to let Holm answer the question.
But Holm did talk about Joan being a "tremendous actress" who had enormous earning power.
He agreed that when he met her she was on "pretty good money" and her star was rising.
Joan's divorce from her third husband Ron Kass, who died of cancer last year had cost her more than one million dollars.
Mitchelson asked: "You knew that she was upset that she had to pay so much money FOUR-TIMES married Joan Collins has vowed never to wed again any man who could not support her.
That lets out current companion "Bungalow" Bill Wiggins, 40, whose property deals would hardly keep her in silk stockings and perfume.
Who could maintain her in the Hollywood style?
Hanson Trust tycoon Sir Gordon White, 64, tops the list. to—to put it frankly—get rid of this man?"
Then, came; another question. "She had been used by men since she was 20 years old?"
Holm said: "I felt this is hard for her. I was very sorry for Joan. I wanted to help her in every way."
At one stage during the legal grilling, Holm began stumbling for answers.
He asked the court bailiff for some water.
Mitchelson picked up Joan's "private" bottle of Evian water and asked: "Would you like some Evian?"
Joan snapped: "Don't give him my water."
Earlier, self-confessed shopaholic Joan told the court that Holm's spending had caused her "extremely embarrassing" moments on her buying sprees.
Some top shops in Beverly Hills had refused to accept her credit cards.
"I had credit cards cancelled," said 54-year-old Joan, who earns £60,000 for every episode of Dynasty.
She said: "I used to go into his office and he had bills this high."
He has all the real-life qualities of JR Ewing and Blake Carrington. He is twice-divorced and in his youth romanced actresses like Ava
She raised her arm on the witness stand in a brightly-lit courtroom as Mitchelson asked: "How high?"
"The bills," she replied, "were about a foot high. Maybe seven or eight inches high."
A moment of humour came when public notary Edna Ruby gave evidence about when she witnessed a document in Joan's apartment.
" How did she look ? " asked Mr Michelson.
" I asked for identification. I didn't recognise her without make-up," she replied.
The hearing continues.
Gardner, Rita Hayworth, Grace Kelly and Marilyn Monroe. Should our Joan, 54, wish to become a rich princess she could always marry Monaco widower Prince Rainier. Hollywood heroes able to keep up with her financially, if not romantically, include Jack Nicholson, Don Johnson, Eddie Murphy, Bruce Willis and Richard Gere.
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