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MATTER OF TRUSTS CREATED BY HORMEL

Nos. CX-93-281, CX-93-426.

504 N.W.2d 505 (1993)

In the Matter of the TRUSTS CREATED BY George A. HORMEL and Designated as Trust Nos. 4, 5, and 6, and of the Trusts Created by Jay C. Hormel and Designated as Trust Nos. 101, 102, 103, 201, 202, 203, 301, 302, and 303 as contested, and In the Matter of the Trust Created by Jay C. Hormel Under His Last Will and Testament and In the Matter of the Trust Created by George A. Hormel Under His Last Will and Testament, uncontested.

Court of Appeals of Minnesota.

Review Denied October 19, 1993.

Attorney(s) appearing for the Case

Peter S. Hendrixson, Carol A. Peterson, William J. Berens, Dorsey & Whitney, Minneapolis, and Gary E. Leonard, Alderson, Ondov, Leonard & Sween, P.A., Austin, for appellant The Hormel Foundation.

Harold D. Field, Jr., Jane F. Godfrey, Leonard, Street and Deinard, P.A., Minneapolis, and Jack Kaufmann, Dewey Ballantine, New York City, for respondents George A. Hormel, II, et al.

Kathleen A. Marron, Robins, Kaplan, Miller & Ciresi, Minneapolis, and Shearman & Sterling, San Francisco, CA, for amici curiae Geo. A. Hormel & Co., d/b/a Hormel Foods Corp. and United Food & Commercial Workers' Union, AFL-CIO Local 9.

Considered and decided by KALITOWSKI, P.J., and CRIPPEN and FLEMING, JJ.

OPINION

WILLIAM J. FLEMING, Acting Judge.*

Trustee Hormel Foundation appeals a district court order instructing it to partially diversify trust assets despite a finding that the Foundation breached no fiduciary duties and did not abuse its discretion in managing the trust. We affirm the district court's finding of no breach or abuse of discretion but reverse its instruction to diversify trust assets.

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