St. Louis, MO- A billion dollars is a hefty sum, but the e-wife of oil tycoon Harold Hamm was unhappy with her settlement and is planning to appeal Reuters is reporting.
It was just Monday when Sue Ann Hamm was awarded $1 billion in her divorce settlement, but her attorney, Ron Barber, told Reuters the amount was “not equitable.”
Harold Hamm was ordered to pay his wife a lump sum of $322.7 million by the end of the year, and in January he must begin making monthly payments of $7 million until the balance is paid off, USA Today reported. Sue Ann Hamm was also awarded two pricey properties.
The point of contention is how the divorce judge estimated Harold Hamm’s wealth. His stake in Continental Resources valued at $13.5 billion was kept separate from the $1.4 billion deemed to be “marital assets.” Had those shares been considered marital assets, Sue Ann Hamm would have received a far larger settlement.
As an executive for Continental Resources, Sue Ann Hamm believes because she played a crucial role in helping the company grow to its current value. But as CNN Money noted Harold Hamm held the majority of the company’s shares before he and Sue Ann married so that may have factored in the judge’s decision.
“Sue Ann is disappointed in the outcome of this case. She dedicated 25 years as Harold’s faithful partner in family and business,” her attorney told Reuters. “She plans to appeal the court’s decision.”
Sue Ann Hamm’s billion dollar divorce settlement is the largest in U.S. history, but if she manages to win her appeal, it could eclipse the $4.5 billion Russian fertilizer magnate Dmitry Rybolovlev was ordered to pay his ex-wife.
Divorces can be ugly affairs fraught with anger, mistrust and resentment. Child custody and money tend to be the sticking points in the majority of divorces that’s why anyone facing divorce needs a strong support system and superior legal counsel.
Appealing a final divorce settlement, is a very complicated process and it also happens to be very expensive. These appeals can in fact be more costly than the original trial and can take a year or two to make it through the courts. The appeals process can be complicated so it requires a divorce attorney familiar with appellate and higher courts.
Your average couple, however, won’t go through the appeals process and, in fact, most divorce cases are settled long before anyone steps foot in court. That’s why it’s critical for a person to hire a divorce attorney from the onset, this gives an attorney the time the need to gather important evidence and build a convincing case for their client.
When a person decides they can no longer make their marriage work, it may be time to consult with a divorce attorney. They will work diligently to assure their clients are treated fairly throughout the entire divorce process and will fight diligently to assure their clients get the settlement they deserve.