Katie Holmes and Tom Cruise have had a lightning-fast divorce settlement that gives primary custodial rights of their daughter Suri to Katie.

The settlement was done out of court, that led to a speedy divorce taking less than two weeks. Even though Katie got Suri's physical custodial rights, Cruise is allowed to spend custodial time with his daughter. TMZ reported that there are restrictions on what Tom and Katie can discuss with Suri on the subject of religion, including Scientology. However, those restrictions will be eased as Suri gets older.

Financial details regarding the divorce settlement are not known as of now, as the claims revolved around the custodial rights of their daughter. Last week, Cruise was named Hollywood's highest paid actor by Forbes magazine, estimated at a net worth of £48m.

A source told Radar that Suri will be accompanied by bodyguards when she visits her father but TMZ has denied this.

"This 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. We thank Tom's counsel for their professionalism and diligence that helped bring about this speedy resolution," Holmes' attorney Jonathan Wolfe of New Jersey-based firm Skoloff & Wolfe said in a statement. The settlement was well received by the other party as well.

"Tom is really pleased we got there, and so am I," Cruise's lawyer Bert Fields said in a statement.

Even though neither of the stars spoke about the divorce in public, they issued a joint statement.

"We are committed to working together as parents to accomplishing 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 pair said in a statement.

Katie had filed for divorce from Cruise on 28 June. Even though the reasons have not been revealed in public, speculation is that, it has to do with Cruise's faith in Scientology as a religion. US Weekly had reported that the couple "fought viciously" over Scientology parenting.

The split came as a shock to thousands of fans who believed that the Cruise-Katie marriage was perfect in every sense of the word. Larry Hackett, managing editor of People magazine, called this the biggest celebrity story in two or three years, excepting the sudden death of Whitney Houston.

Scientology