Sue Ann Hamm, the ex-wife of Oklahoma oil magnate Harold Hamm who was awarded cash and assets worth more than $1-billion (about R11.2-billion) in the couple's divorce this week, plans to appeal the judgment on grounds that it grossly undervalues the marital wealth she is entitled to.
Feeling short-changed by a ruling that allows the Continental Resources CEO to keep about 94% of the estimated $18-billion rise in his Continental shares during a 26-year marriage, Sue Ann Hamm would appeal within a few weeks, one of her lawyers, Ron Barber, said.
She believes that the decision was "not equitable".
On Monday, Oklahoma County Court Judge Howard Haralson ordered the CEO, who is believed to own more oil than any other American, to pay his ex-wife $995-million. The ruling lets her keep additional assets, including a California ranch and an Oklahoma home, worth tens of millions more.
The Hamm vs Hamm divorce judgment is one of the largest in US history, but Sue Ann's award is a small fraction of the wealth Haralson allowed Harold Hamm to keep.
- Reuters
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