According to Reuters, Arnall appealed a November divorce ruling that awarded her the sum, claiming that there were 78 errors in the settlement.
The settlement is believed to be the second highest divorce settlement in the United States.
Michael Burrage, Hamm’s lawyer, said: “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.”
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