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Family & Divorce Law

Hamm disputing award in divorce case

By Tolison & Williams / January 7, 2015

Most spouses may encounter many steps in the path of finalizing their divorces. One of the most intense discussions in divorce for Colorado spouses is asset division. Harold Hamm, who is a well-known oil tycoon, believes that the recent settlement his wife received was unfair. According to reports, this is one of the highest awards in history.

Hamm is the owner of an oil company called Continental Resources, and as of last summer, his worth was $19 billion. In Hamm's divorce settlement, his ex-wife was awarded nearly $1 billion, and now, he's appealing the case. Hamm says that his ex-wife was awarded a substantial portion of assets that were acquired throughout the marriage. In addition, she was also awarded multiple properties and other assets that are worth millions.

He is disputing this award, especially since the oil prices have dropped recently. However, the ex-wife is also disputing the settlement and believes that she should have been awarded more. A prenuptial agreement was not entered into when they got married. While the amount of this settlement is huge, there is another divorce settlement case in history that was much higher at $4.5 billion.

Divorce can undoubtedly be a heartbreaking experience for spouses and their families. Not only must they adjust to living newly single lives, but they must also adjust to living in single income households. Cases like these that involve high-dollar assets and properties add to the bitterness, and Colorado spouses may wonder what their next steps should be. An experienced family law attorney can help guide spouses on the procedures to help obtain the best possible outcomes.

Source: The Washington Post, "A guide to the billion-dollar divorce appeal that's headed to the Oklahoma Supreme Court", Abby Ohlheiser, Jan. 3, 2015

Tags: Divorce

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