The former wife of Continental Energy CEO Harold Hamm rejected a $975 million personal check the oil tycoon sent to her Tuesday as she appeals her nearly $1 billion court ordered award.
“Ms. Arnall, through her counsel, stated that they were rejecting the … payment because Ms. Arnall did not want to risk the dismissal of her appeal by acceptance of the benefits,” Hamm’s lawyer Michael Burrage said.
In November, Hamm was ordered to pay $995 million by the end of 2014 to his ex-wife in one of the largest divorce settlements in U.S. history.
The award would make Sue Ann Arnall, a 58 year old former Continental Resources executive, one of the 100 wealthiest women in the United States.
Arnall has appealed the ruling, claiming the settlement does not adequately reflect the role she played in building Hamm’s fortune.
The settlement is in addition to about $25 million Arnall won in 2012.
The former couple did not sign a prenuptial agreement.
Hamm, 69, argued in an appeal filed in early December that plunging oil prices have made his 68 percent stake in Oklahoma-based Continental Resources less valuable than the initial settlement presumed.
The appeal hinges on a distinction made in Oklahoma divorce law between monetary gains earned through active efforts or skill versus passive market forces.
In Oklahoma, only gains made through active effort or skill can be split between the two parties in a divorce.
The appeals will be heard by the Supreme Court of Oklahoma.