Ordway Law Group, LLC
Ordway Law Group, LLC
Divorce & Family Law

Oil magnate’s ex to appeal high net worth divorce judgment

On Behalf of | Nov 21, 2014 | Uncategorized |

One of the chief concerns that people in Georgia often have during a divorce is whether they will get their fair share of marital assets. This is especially an issue for those going through a high net worth divorce. One woman who recently divorced her husband in a high-profile, out-of-state case is now appealing the divorce judgment, claiming that the $1 billion-plus in assets and cash that she was awarded grossly undervalued the wealth to which she was entitled.

That woman is Sue Ann Hamm. She is the ex-spouse of Harold Hamm, an oil magnate who serves as the CEO of Continental Resources. The two were married for 26 years. According to their divorce judgment, Harold was allowed to keep about 94 percent of a projected increase in his company shares, totaling $18 billion. Sue Ann, who claims that this was an inequitable judgment, plans to appeal the decision within the next few weeks.

As part of the judgment, Sue Ann is to be paid more than $990 million by her ex and is allowed to keep a home in Oklahoma and a ranch in California. This divorce judgment happens to be one of America’s largest historically. It is believed that Harold owns more oil than any other person in the United States.

When high-value assets are on the line in a divorce, it’s natural for a person in Georgia to feel panicked and overwhelmed. However, if two divorcing individuals can work out the distribution of these assets on their own through negotiation or mediation, they will be more likely to experience an outcome they’ll be pleased with during their high net worth divorce. Otherwise, a judge will have to decide for them how to split their assets, and either one party or both parties might end up feeling cheated by the final judgment.

Source: Reuters, “Exclusive: Ex-wife of US oil baron to appeal $1 billion divorce award“, Joshua Schneyer, Nov. 13, 2014

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