Ex-Wife Cashes Oil Billionaire’s $975m Cheque
Sue Ann Arnall initially said her ex-husband Harold Hamm’s handwritten cheque – for $974,790,317.77 – was not enough. The ex-wife of an oil billionaire has cashed one of the largest divorce awards in US history – a cheque for $975m (£644m), her ex-husband’s lawyer says.
Sue Ann Arnall’s deposit is expected to draw a line under her two-and-a-half year divorce battle with Harold Hamm, chief executive of oil driller Continental Resources.
Ms Arnall’s legal team initially rejected her ex-husband’s handwritten cheque – for $974,790,317.77 – offered earlier this week.
But Michael Burrage, Mr Hamm’s lawyer, said they received a call on Thursday from Morgan Stanley bank advising that Ms Arnall was depositing the cheque.
The award was accruing interest of more than $93,000 per day, according to Reuters news agency.
It was based on a November divorce ruling, which both sides have appealed against.
Ms Arnall, 58, said the settlement of nearly $1bn in cash and assets was not enough.
Her legal team argued it allowed him to keep most of a fortune they valued as high as $18bn.
But his appeal said he had lost billions tied to the value of his 68% stake in Continental in recent months amid a sharp fall in oil prices.
The Oklahoma oil wildcatting magnate has already paid his former wife more than $20m during the divorce proceedings.
Ms Arnall is a lawyer and former Continental executive who was married to Mr Hamm for 26 years.
News source: Sky News