Our client, Kim Lund, owned a minority interest in Lunds & Byerlys grocery chain. Since at least 1992, Kim made clear it was her expectation to separate her assets from the family business so that she could engage in philanthropy and charitable giving. Kim’s family initially indicated it would abide by her expectation. But when it came time to execute on an exit strategy, Kim’s brother, Tres Lund, refused to prioritize or complete a buyout of Kim’s ownership interest on fair terms and at a fair price.
Anthony Ostlund filed a lawsuit on Kim’s behalf seeking a buyout of her interest at fair value. Anthony Ostlund also requested the removal of Tres as a trustee of Kim’s trusts. At the appropriate time, we moved for a buyout. The Hennepin County District Court agreed that Tres had treated Kim unfairly and ordered a buyout at fair value in an amount to be determined at trial. After a week-long trial with many disputed issues, the Court awarded Kim more than $45 Million for the value of her interest, removed Tres as a trustee, and declared Kim the prevailing party. Kim will now have what she was promised – financial freedom so that she can use her family wealth to serve the public good. Read more
Our client owned property adjacent to the Metrodome, and it had a contract with the Minnesota Sports Facilities Authority that granted the Minnesota Vikings the right to use the plaza on game days. The MSFA needed our client's property to develop the new Vikings stadium, but it was unclear whether the MSFA would purchase the property or take it through eminent domain. The MSFA stalled negotiations because it did not want to pay our client fair value.
We filed a lawsuit seeking clarification of the MSFA’s intent to purchase the property and to settle the dispute over the Vikings’ right to use the plaza for events. Filing suit forced the MSFA to address the situation directly and mediate a fair settlement. Our client ultimately sold the property for $17.1 million, well above the estimated market value of $4.5 million. Read more
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