We have dedicated a few of our blog posts to the discussion of the divorce between oil tycoon Harold Hamm and his ex-wife. Just when we thought we were done talking about the matter, another twist in the story occurs. As some may remember, Hamm's ex-wife was recently awarded nearly $1 billion by a judge in their divorce case. Now, Hamm's ex-wife is appealing that ruling, claiming more than 70 errors were made when valuating marital property.
One of the most pivotal mistakes, claims Sue Ann Arnall, Hamm's ex-wife, was the judge's acceptance of corporate documents showing, or what she claims falsely showing, inaccurate dates for extremely profitable business decisions. The dates are important, as shares of Hamm's Continental Resources grew about $14 billion over the course of their marriage, claims Arnall. She claims she is, therefore, entitled to more than the six percent of the $18 billion to which she is entitled. Arnall also claims that Hamm lied about making strategic and profitable business decisions prior to their marriage.
Appealing a divorce ruling is no easy task. Additional legal hurdles must be cleared and sound legal arguments must be put forth. For complex property division cases, like Hamm's, the process can take a year or longer. When an individual decides to dissolve a marriage, very rarely does he or she want to see the divorce process play out for that long.
Therefore, the Harold Hamm-Sue Ann Arnall case highlights just how important it is to not only accurately valuate marital assets, but to argue vigilantly for what is rightly yours. In Arizona, this can be achieved by acquiring the assistance of a competent family law attorney, who may even recommend a postnuptial or prenuptial agreement.
Source: The Huffington Post, "Oil Magnate Harold Hamm's Ex-Wife Appeals $1 Billion Divorce Ruling," Dec. 5, 2014