PLEASE NOTE: We are still open and operational! To protect your safety in response to the threats of COVID-19, we are offering our clients the ability to meet with us in person, via telephone or through video conferencing. Please call our office to discuss your options. click here for Covid 19 updates
Laura Dale & Associates, P.C.
713-574-7952

Property division arguments surface in Hamm divorce appeals

Parties in Texas civil cases have the right to appeal a court's decision. According to the American Bar Association, appeals generally must have more substance to them than the unhappiness of a litigant. Appeals often assert there were procedural mistakes or errors in facts presented at trial.

At the end of a long, high net worth divorce trial in November, the head of Continental Resources was ordered to pay his former spouse more than $995 million. At the time, billionaire Harold Hamm said he was satisfied the decision was fair. Ex-wife Sue Ann Arnall, formerly Sue Ann Hamm, almost immediately filed an appeal, claiming she was due more of the former couple's vast marital wealth.

By mid-December, the oil baron had filed an appeal of his own. The timing of the appeal coincided with a significant drop in oil prices, dramatically affecting the value of shares in Continental Resources. Harold Hamm owns 68 percent of the oil company.

The property division ruling, in part, was based upon Hamm's personal influence on Continental's worth. The appeal alleges the oil price drop, and subsequent loss in share price, proved Hamm had less to do with the company's value than factors out of the ex-husband's control.

Marital property accumulated through a spouse's "skills and efforts" are divisible in the state where the divorce trial took place. The 68-year-old chief executive officer argued evidence of the company's share values used during the trial did not take the oil market's uncontrollable factors into consideration.

Hamm had been ordered to pay more than $322 million to his ex-wife by the end of 2014, followed by $7 million monthly installments until the full marital debt was paid. The appeals suspended payments.

An ex-spouse must consider the costs and possible consequences of appealing a divorce ruling, even when a valid reason to appeal exists. Attorneys offer advice about the pros and cons of additional litigation.

Source: USA Today, "Oil baron Harold Hamm appeals divorce ruling" Kevin McCoy, Dec. 30, 2014

No Comments

Leave a comment
Comment Information
  • TAOFLS
  • Board Certified
  • IAFL
  • Super Lawyers 2019
  • Best Lawyers
  • Avvo Rating
  • Avvo Rating
  • Avvo Client Choice 2014
  • Avvo Client Choice 2014
  • Best Law Firms Badge
  • Laura Dale
  • Texas Bar Today Top Ten Badge

Contact Our Experienced Team Today

Se Habla Español | Nous Parlons Français

Due to the experience our lawyers have in many specialized areas, you can rely on us to put together the right team to handle your case, even if it centers on complex issues such as international family law, business valuation or bankruptcy. Contact us today to make an appointment to discuss your needs with a knowledgeable lawyer.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Laura Dale & Associates, P.C.
email us for a response

OFFICE LOCATION
1800 Saint James Place
Suite 620
Houston, TX 77056

Phone: 713-574-7952
Fax: 713-600-1718
Houston Law Office Map

Review Us