Golden Temple dispute over

| Print |  Email
Must Reads
Tuesday, November 06, 2012

The three-year dispute over control of a Eugene natural foods company was settled with business and religious leaders dropping claims against each other.

The feuding religious leaders and business leaders of the Sikh community founded by the late Yogi Bhajan agreed to drop their legal claims against each other. They will move on with an orderly give-and-take of payments and a transition to new leadership for the community’s for-profit companies, including East West Tea Company LLC. East West Tea Co., which packages tea under the Yogi Tea brand, is what’s left of Golden Temple of Oregon, which built such brands as Peace Cereal and Yogi Tea, and has long been a cornerstone of Eugene’s natural foods industry. Golden Temple sold its cereal division to Hearthside Food Solutions in May 2010 for $71 million.

Under the settlement agreement, former Eugene resident and prominent local businessman Kartar Singh Khalsa, will resign from the Unto Infinity management board that controlled the Sikh community’s for-profit companies and religious and educational charities. He has agreed to stay on as CEO of the tea company until Dec. 31, and he will relinquish his ownership interest in Golden Temple of Oregon, which he valued at $23.5 million in his Chapter 11 bankruptcy filings.

Read more at The Register-Guard.

{biztweet}golden temple{/biztweet}

 

More Articles

House of Clarity

July/August 2015
Monday, July 13, 2015
BY JACOB PALMER

Holding a Power Lunch at Veritable Quandary in downtown Portland.


Read more...

Reader Input: Fair Play

May 2015
Wednesday, July 15, 2015

Former Governor John Kitzhaber's resignation in February prompted some soul searching in this state about ethical behavior in industry and government.


Read more...

Marijuana law ushers in new business age

The Latest
Tuesday, June 23, 2015
062315panelthumbBY KIM MOORE | RESEARCH EDITOR

Oregon’s new marijuana law is expected to lead to a bevy of new business opportunities for the state. And not just for growers. Law firms, HR consultants, energy efficiency companies and many others are expected to benefit from the decriminalization of pot, according to panelists at an Oregon Business breakfast meeting on Tuesday.


Read more...

6 key things to know about summer baseball in Oregon

The Latest
Friday, June 05, 2015
basedthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

As temperatures in Oregon creep into the 90s this weekend, Oregonians' thoughts are turning to — summer baseball.


Read more...

Downtime with Debra Ringold

July/August 2015
Monday, July 13, 2015
BY JACOB PALMER

Dean of the Atkinson Graduate School of Management, Willamette University


Read more...

Department of Self-Promotion

Linda Baker
Wednesday, June 17, 2015

061715-awards1Oregon Business wins journalism awards.


Read more...

Apartment Mania

Guest Blog
Thursday, June 18, 2015
4805983977 11466ce1d6 zBY BRAD HOULE | CFA

While most categories of commercial real estate have performed well, one of the most robust has been apartment buildings.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS