Post by Logan on Feb 9, 2017 17:16:38 GMT -6
Lund heiress says she wants to free her inheritance to use for philanthropy
A Lund family heiress said she is fighting in court to cash out her 25 percent stake in the family’s supermarket empire largely so she can give the money away.
Kim Lund, 57, took the stand Wednesday in her lawsuit against Lunds Inc. and her brother, Russell “Tres” Lund III, longtime CEO of the chain that now goes by the moniker Lunds & Byerlys. Hennepin County Chief Judge Ivy Bernhardson has already ruled that Lunds must purchase Kim’s interest, but a canyon divides the two sides on the purchase price.
Kim Lund’s financial experts say her stake is valued at $80.4 million; Lunds says it is worth just over $21 million. Bernhardson will determine the actual buyout price after the trial concludes.
Kim Lund told the court that once the ruling is made, she and her two children will decide how much money they need, and “the rest will be given back to the community.”
Read more: www.startribune.com/lund-heir-says-she-wants-to-free-her-inheritance-to-use-for-philanthropy/413233473/
A Lund family heiress said she is fighting in court to cash out her 25 percent stake in the family’s supermarket empire largely so she can give the money away.
Kim Lund, 57, took the stand Wednesday in her lawsuit against Lunds Inc. and her brother, Russell “Tres” Lund III, longtime CEO of the chain that now goes by the moniker Lunds & Byerlys. Hennepin County Chief Judge Ivy Bernhardson has already ruled that Lunds must purchase Kim’s interest, but a canyon divides the two sides on the purchase price.
Kim Lund’s financial experts say her stake is valued at $80.4 million; Lunds says it is worth just over $21 million. Bernhardson will determine the actual buyout price after the trial concludes.
Kim Lund told the court that once the ruling is made, she and her two children will decide how much money they need, and “the rest will be given back to the community.”
Read more: www.startribune.com/lund-heir-says-she-wants-to-free-her-inheritance-to-use-for-philanthropy/413233473/