Ex-wife of oil magnate Harold Hamm appeals $1 billion divorce ruling

0
11

Sue Ann Hamm stands in the courthouse hall before divorce proceedings with Harold Hamm,   founder and CEO of Continental Resources,   in Oklahoma City

 

Sue Ann Arnall, the ex-wife of Continental Resources Chief Executive Officer and Chairman Harold Hamm, has appealed a divorce judgment that awarded her around $1 billion from the Hamm marital estate, her lawyers said on Friday.

The appeal by Ms. Arnall, who has gone back to using her maiden name, comes after Oklahoma County Court Judge Howard Haralson ruled last month that Hamm would have to pay her around $1 billion, including cash and assets, over a period of years as a result of the couple’s divorce.

The decision allowed Harold Hamm to retain most of the wealth stemming from his 68 percent Continental stake, deeming it his “separate property.”

Harold Hamm’s divorce attorneys have called Haralson’s ruling equitable, but the oilman’s ex-wife considers it unfair. During trial, her legal team valued the couple’s total wealth at around $18 billion, and contended it should be divided equitably between the spouses, who were married for nearly 26 years. Hamm founded Continental in 1967, years before the couple wed, but the vast majority of the company’s growth came during the marriage.

“As Sue Ann has stated previously, 6 percent is not a fair proportion of the wealth the couple accumulated during their marriage, and she trusts that a more equitable division of the marital estate will result from this appeal, ” her legal team said in a statement.

The appeal documents were not yet available in Oklahoma’s electronic court dockets database.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.