Summary: The ex-wife of billionaire Harold Hamm, Sue Ann Arnall, told a court that her appeal of the divorce decree should continue despite cashing the check from Hamm.
Sue Ann Arnall, the ex-wife of Harold Hamm, told the highest court in Oklahoma that her divorce appeal should not be blocked because she cashed the $1 billion alimony check from Hamm, according to Bloomberg.
Arnall and Hamm were married for 26 years. She claims it was “almost impossible” that her share of the wealth awarded in a divorce decree will shrink. She believes this even if the court rejects the bid asking for a larger amount.
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Hamm asked the court to dismiss Arnall’s appeal of the divorce decree. The decree was made final back in November following a trial. The decree was made final because Arnall cashed the $975 million check given to her by Hamm. Hamm claims that Arnall was “fully aware” that “accepting the benefits” of the decree meant forfeiting the right to appeal it.
In the divorce, Arnall received less than 10 percent of the couple’s wealth. The majority of their assets and investments went to Hamm, including his majority stake in Continental Resources Inc., which is headquartered in Oklahoma City.
Hamm’s fortune was estimated at $16.1 billion when the decree was made final, but the drop in oil prices has decreased that value by close to 40 percent. Hamm’s net worth dropped to as low at $9.4 billion in December, but has recovered to $11.3 billion as of this week.
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Hamm filed his own appeal of after Arnall filed her appeal of the decree. He argues that Arnall was entitled to less money due to his shrinking shale-oil fortune.
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Source: Bloomberg