Tags: harold hamm | 974m | check | divorce | reject | ex

Harold Hamm's $974.8M Check to Settle Divorce Rejected by Ex

Image: Harold Hamm's $974.8M Check to Settle Divorce Rejected by Ex
Chairman and Chief Executive Officer of Continental Resources, Inc., Harold Hamm and wife Sue Ann Hamm. (Robert Pitts/Landov)

By    |   Wednesday, 07 Jan 2015 11:53 AM

Harold Hamm's $974.8 million divorce settlement offer in the form of a check that could be cashed immediately has been rejected by ex-wife Sue Ann Arnall.

Hamm, chief executive of oil driller Continental Resources, had the hand-written check delivered to her legal team, his lawyer said on Tuesday, according to Reuters.

Hamm's offer to pay Arnall the full cash value of what he owes based on a November divorce ruling by an Oklahoma County judge was rejected, Hamm's lawyer, Michael Burrage, said in an emailed statement.

"Ms. Arnall, through her counsel, stated that they were rejecting the ... payment because Ms. Arnall did not want to risk the dismissal of her appeal by acceptance of the benefits," Burrage wrote.

Both Arnall, who was formerly Sue Ann Hamm and resumed using her birth name after the divorce, and Hamm have appealed the November divorce judgment. Appeals are set to be heard by the Oklahoma Supreme Court, Reuters reported earlier.

Arnall, a former Continental executive who was married to Hamm for 26 years, contends that her award of around $1 billion in cash and assets was inadequate and allowed Hamm to keep the lion's share of a fortune her lawyers valued as high as $18 billion.

Harold Hamm had already paid his former wife more than $20 million during the divorce proceedings.

Hamm's appeal contends that the $1 billion award was too steep. Hamm has lost billions tied to the value of his 68 percent stake in Continental in recent months, which his legal team blames on the sharp fall in oil prices.

© 2017 Newsmax. All rights reserved.

   
1Like our page
2Share
TheWire
Harold Hamm's $974.8 million divorce settlement offer in the form of a check that could be cashed immediately has been rejected by ex-wife Sue Ann Arnall.
harold hamm, 974m, check, divorce, reject, ex
261
2015-53-07
Wednesday, 07 Jan 2015 11:53 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved