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| The $975 Million Divorce Cheque Has |
| The $975 Million Divorce Cheque Has Been Deposited
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| UNITED STATES OF AMERICA
, 9-January-2015
7:14:0 AM |
| Sue Ann Arnall, the ex-wife of Oklahoma oil magnate Harold Hamm, has deposited a handwritten $975 million divorce cheque, Hamm's lawyer said on Thursday, in a move that may end an epic divorce battle over a fortune worth billions.
Arnall, 58, deposited the cheque after earlier this week declining the payment and pledging to pursue her appeal of a divorce ruling she viewed as unfair.
In the November ruling by an Oklahoma County Court judge, Hamm, the chief executive of Continental Resources was allowed to keep his 68 percent stake in the firm, now worth about $9 billion, while Arnall was awarded about $1 billion in cash and assets from the marital estate.
The cheque represents the entire remaining balance of what Hamm owes Arnall based on the November ruling, including interest. The oilman's divorce lawyer, Craig Box, said he believes Arnall's deposit of the cheque will end her efforts to appeal the case and that Hamm also wants the case resolved.
"We have received confirmation that the cheque was deposited in an Oklahoma City bank," Box said. "We feel this is the end of the case from her perspective. It means she's done and should dismiss her appeal."
A person familiar with Arnall's case confirmed the deposit, which represents one of the largest divorce awards in US history. Arnall could not be reached directly for comment. It was not clear whether she intends to pursue an appeal after the cheque clears.
"If she's cashing the cheque, I would think the reasonable conclusion is that they both will accept the trial court's decision, dismiss their appeals and put an end to the case," said Oklahoma family law expert Carolyn Thompson.
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