Continental CEO Harold Hamm ordered to pay $995 million in divorce

Reuters News
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Posted: Nov 10, 2014 2:04 PM

(Reuters) - An Oklahoma County judge has ordered oil magnate and Continental Resources <CLR.N> Chief Executive Officer Harold Hamm to pay nearly $1 billion in a divorce judgment, according to a court filing made public on Monday.

Special Judge Howard Haralson found that Hamm should pay his ex-wife Sue Ann Hamm a total of $995.5 million, with about a third of the funds, or $322.7 million, to be paid by the end of the year, the filing says.

Hamm will then be required to pay the rest of the judgment, some $650 million, in installments worth at least $7 million per month, the filing says. Sue Ann Hamm has already been awarded around $25 million since the case was filed in 2012, the filing says.

To secure the judgment, Judge Haralson has placed a lien on 20 million shares of Continental stock, the filing says.

The ruling, which is subject to appeal, comes after a 9-1/2 week divorce trial ended last month.

(Reporting By Joshua Schneyer)