Our Virginia divorce attorneys have witnessed many major divorce battles, but very few settlements in the history of the law have ever exceeded a billion dollars.
Last Monday, Oklahoma Special Judge Howard Haralson ruled that Harold Hamm, the Chief Executive Officer of Continental Resources, must pay his ex-wife, Sue Ann Hamm, $995.5 million. The judge’s 80 page ruling followed a trial that lasted nine weeks and that captured the attention of court watchers the world over. Residents of Oklahoma, North Dakota, and Montana, in particular, followed the case closely, because the fate of Continental Resources – a company that plays a sizable role in the state economies of Oklahoma, North Dakota, and Montana – had been hanging in the balance. Sue Ann Hamm’s lawyers had asked the judge to split the $17 billion marital estate in half. Harold Hamm holds 68% of Continental Resources’ shares. Had the court granted that request, the company would have to have been sold or radically restructured.
Either party can appeal Judge Haralson’s ruling, but if it stands, Harold Hamm will retain his position as CEO. This company responded with this statement: “as Continental stated on numerous previous occasions, this private matter has not, and will not have any impact or effect on the company’s business or operations.”
Of course, the bruising divorce battle has already taken a toll on the company. Prior to the trial, Continental had been valuated at around $18 billion. Today, it’s worth $14.9 billion. In other words, the company may have lost over $3.1 billion in perceived value just because of the divorce.
When the Hamms got married back in 1988, they did not file a prenuptial agreement.
Even if your divorce will not lead to an epic settlement, you need and deserve thorough, compassionate and strategic attention to your case. Contact Fairfax Virginia divorce lawyers with DiPietro Law Group, PLLC at (888) 530-4374 for a confidential consultation about your options.