Best Actress is also a two woman race between Jessica Chastain for Zero Dark Thirty and Jennifer Lawrence for Silver Linings Playbook.
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And Jennifer Lawrence of Silver Linings Playbook chose a Dior Couture strapless navy gown for her walk on the red carpet despite having a case of pneumonia.
Aside from Riva and Wallis, the best actress category is completed by Jennifer Lawrence in Silver Linings Playbook, Naomi Watts in The Impossible and Jessica Chastain, who plays a CIA agent hunting Osama Bin Laden in Zero Dark Thirty.
"Silver Linings" star Lawrence won a Golden Globe and has become one of Hollywood's hottest talents, with part two of her blockbuster franchise, "The Hunger Games: Catching Fire, " due out in November.
The best actress prize was shared between Amour's Emmanuelle Riva , 85, and Silver Linings Playbook actress Jennifer Lawrence, 22.
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Silver Linings Playbook garnered nods for Jennifer Lawrence and Bradley Cooper in the best actress and best actor categories.
Paltrow shimmered in a simple, sleeveless silver gown, but the 20-year-old Lawrence sizzled in a form-fitting, racer-back, tomato-red dress.
But the only front runner of the group is Jennifer Lawrence who has a very good chance of taking Best Actress for Silver Linings.
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David O Russell was rewarded with the best adapted screenplay prize for Silver Linings Playbook, but hotly tipped Oscar contender Jennifer Lawrence and her co-star Bradley Cooper missed out in the acting categories.
Lawrence, who's up for best actress for her performance in "Silver Linings Playbook, " was wearing a flowing white-and-pink Dior number.
Even Jennifer Lawrence, who won an Oscar for Best Actress for her turn in "Silver Linings Playbook" and was name-checked in the boob song, found the humor in it.
"Silver Linings Playbook" led with four wins, including best actress for Jennifer Lawrence and director and screenplay for David O.
Oscar-winner Silver Linings Playbook took three awards including best male and female for lead actors Bradley Cooper and Jennifer Lawrence.
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