Sixty-nine-year-old Oklahoma oil magnate Harold Hamm, pioneer of Continental Resources, one of the largest producers of oil in the North Dakota Bakken formation, said that the divorce settlement debacle with his ex-wife contributed to the loss of his millions, the Chicago Tribune reported on January 3.
Hamm’s ex-wife, Sue Ann Arnall, said that her $1-billion award was too small compared to what she is entitled from Hamm’s fortune. Hamm, on the other hand, complained that the alimony settlement was already too much, as Continental Resources’ profits have declined due to the oil price decreases.
Continental Resources’ shares decreased by 30%, reaching a five-year low, since the divorce trial ended November 10 of last year.
Hamm said that with his wealth reduced to $10.6 billion, a third of his previous wealth as computed by the Bloomberg Billionaires Index, Arnall got a larger share of their combined wealth than she should have.
Having to go through the difficulties of a legal case that deals with family issues can be stressful. The compassionate attorneys at Alexander & Associates can be of help, however. Get in touch with us by calling (972) 420-6560 today.
Continental Resources chief executive officer Harold Glenn Hamm has been ordered by Oklahoma Special Judge Howard Haralson to give his ex-wife, 58-year-old Sue Ann, almost $1 billion in one of the largest ever divorce judgments in the United States, a Reuters article reported on November 11.
Even though said amount has the potential to make Sue Ann Hamm among the 100 richest women in the United States, according to Forbes’ rankings, the award was less than what Sue Ann’s lawyers originally sought. Additionally, it will not require Harold Hamm to sell his Continental shares, of which he currently owns 68%.
The attorneys at Alexander & Associates know that divorce can be a complicated and even contentious matter. Our compassionate attorneys have the experience and resources to work on behalf of your rights and interests throughout any divorce procedure, including property division, child custody, and any other family law issue. Call our offices in Denton at 972-420-6560 today to learn more.
A divorce case between American oil magnate Harold Hamm and his wife Sue Ann could impact one of the world’s largest energy companies, Oklahoma-based Continental Resources, Inc., of which Harold is founder, chairman, and CEO, the Dallas Business Journal reported on September 2.
Sue Ann filed for divorce in May 2012 and is seeking between $3 billion and $6 billion from the nearly $17 billion acquired by Harold during their 26-year marriage.
Should the court rule in favor of Sue Ann, Harold could face the difficult decision of selling shares in Continental to afford the award. This decision would affect not only the company, but also the American energy industry as a whole.
If you seek representation during your divorce in Denton, the attorneys at Alexander & Associates can help. Our legal team is dedicated to representing the interests of our clients throughout divorce proceedings, including asset and debt division, child custody, and other related issues. Call our offices at 972-420-6560 today to learn more.
According to research results released by Baylor University’s Council on Contemporary Families, couples who are non-religious have a lower recorded divorce rate.
The study, which examines shifts in United States marriages within the past 50 years, revealed that white conservative Protestants and black Protestants have sought divorces at higher rates than people who are not affiliated with a religious group. The study examined couples whose legal status was recognized by the 1964 Civil Rights Act.
Divorce is almost never the intended outcome of a marriage, however if you are going through divorce proceedings, you could benefit from the help of a family lawyer. The attorneys at Alexander & Associates provide legal advice for Denton people. Contact our offices at (972) 420-6560 to speak with a member of our team.