Sue Ann Arnall, the ex-wife of oil tycoon and Continental Resources Inc. CEO Harold Hamm, rejected the check for $975 million that her ex-husband wrote her as part of their divorce settlement agreement, CNN reported on January 7.
Hamm consented to pay Arnall the nearly $1 billion divorce settlement amount in November 2014. Arnall and Hamm were married for 26 years and are parents of two children. The former couple has no prenuptial agreement.
Arnall believes that she is entitled to more, as she held executive positions within the company and supported their endeavors throughout their marriage. Hamm himself filed an appeal to reduce the settlement money that he was required to pay Arnall, claiming that since oil has suffered a dramatic drop in prices, his company has taken the brunt of the damage. His company’s shares dropped, thereby minimizing his wealth.
Hamm’s legal counsel, Craig Box, said Hamm will proceed with his appeal even though he had already written the check for Arnall.
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