Otto Bremer Trust statement on its motion for judgment filed May 1, 2020

May 11, 2020

We’re asking the Court to dismiss both lawsuits (filed November 19, 2019, and January 8, 2020) because they completely lack a legal basis for any of their claims. Specifically, and most significantly—and as we have said since November—our filing demonstrates that none of the plaintiffs have standing to bring lawsuits against OBT and the Trustees. The only party with standing in this matter is the Attorney General of Minnesota; we have been working with his office since last year.

We did not start this legal fight, but it is our intent to end it as quickly as possible in order to protect the assets of the Trust. We hope that BFC remembers that its depletion of Trust assets is playing out against the backdrop of the unimaginable economic calamity of the COVID-19 pandemic and that our resources are needed—and much better deployed—helping those less fortunate rather than being used to further needless and wasteful lawsuits.

Contact: David Hakensen, H Co., 612-840-4592