Summary: The now ex-wife of the owner of an oil company has appealed her $1 billion award she received in their divorce proceedings.
People reports that the divorce proceedings between Sue Ann Hamm and Harold Hamm, an Oklahoma oil tycoon, may not be over just quite yet. Earlier this week, a judge finalized the divorce between the couple and awarded Ms. Hamm an incredible $1 billion as part of the settlement. However, according to Sue Ann, the settlement is not a fair portion of the marital estate.
According to Mr. Hamm, the divorce settlement is “fair and equitable.” Mr. Hamm’s attorney, Mike Burrage, stated, “We think that the judge heard all of the evidence, and that it’s a fair resolution of the divorce case.”
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Not so fast, according to Ms. Hamm and her lawyers. Ron Barber, an attorney for Ms. Hamm, explained, “Sue Ann is disappointed in the outcome of this case. She dedicated 25 years as Harold’s faithful partner in family and business. She feels that an award of less than 6 percent of the couple’s wealth, which had grown during the marriage up to the date of trial by more than $18 billion, is not equitable, and she plans to appeal the Court’s decision.”
Harold Hamm is the founder and CEO of Continental Resources. On Monday, Forbes estimated his wealth to be valued at roughly $14 billion. In last May’s issue of the magazine, he was declared “The Billionaire Oilman Fueling America’s Recovery.”
Click here to read about Continental Resources.
In the divorce complaint, Sue Ann Hamm asked Harold Hamm to move out of the couple’s home in February of 2012, citing “ mutual irreconcilable differences.”
The divorce proceedings took over two-months. After the court hearings concluded—which were conducted privately for the sake of Mr. Hamm’s company—Oklahoma County District Judge Howard R. Haralson ruled in an 80-page order that Sue Ann would receive a total settlement of roughly $995 million. This included two homes in Oklahoma, a ranch in California, a majority stake in a separate company, the amount of $322.7 million due by the end of this year, and, starting in January of 2015, $7 million a month until the settlement was paid in full.
Harold Hamm received his majority stake in his publicly traded oil company, a $10 million airplane, a Missouri home, two horses at the California ranch, and an Oklahoma office building.
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Attorneys for Sue Ann state that they will file an appeal by December 10.
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