settlement agreement presentation: review, discussion & update listuguj, quebec january 2014
TRANSCRIPT
Settlement AgreementPresentation:
Review, Discussion & Update
Listuguj , QuebecJanuary 2014
Settlement Agreement Review
Settlement Agreement: What the agreement
IS about…
• Compensation for Breach of Fiduciary Duty
Fiduciary Duty: A legal obligation of one party to act in the best interest of another.
Breach: An act of breaking or failing to observe a law, agreement, or code of conduct.
Settlement Agreement Review
Settlement Agreement: What the agreement
IS about…
• Compensation is for Loss of Use for five
parcels of land;•Mann-Fraser•Former Busteeds•Mission lands•Highway 132 right-of-way• Interprovincial Highway (bridge approach)
MAPS
Settlement Agreement Review
Settlement Agreement: What the agreement IS NOT
about…
• The sale of land
Settlement Agreement: What the agreement DOES NOT affect
• Aboriginal Title• Aboriginal Rights• Treaty Rights
Settlement Agreement Review
Negotiations are a “Give & Take”…
What would we gain?•Compensation amount of $64.5 million
What would we agree to in return?•We could not sue Canada again for Breach of Fiduciary Duty regarding the same 5 parcels of land.•Cross Point (Mann-Fraser Estate) will continue to exercise their existing interest in the land (i,e. They are not re-locating)
Settlement Agreement Review
• Canada has agreed that the exercise of Aboriginal Rights, Aboriginal Title and Treaty Rights of Listuguj are unaffected.
• Any disputes about Aboriginal Rights, Aboriginal Title and Treaty Rights in Cross Point (as the same anywhere else) are left to be negotiated or litigated at a later date.
Community Concerns & Misconceptions
Common Misconceptions
• We are selling the land – FALSE
• By accepting this agreement, we will forfeit our Aboriginal rights – FALSE
• We can get more money if we re-open negotiations with Canada before a vote- FALSE
Trust Agreement & Trust Fund
•To safeguard the settlement compensation and to ensure that the settlement benefits both the current & future generations
Why have a Trust Agreement & Trust Fund?
Trust Agreement & Trust Fund
•Trust Agreement – with specific details•Corporate Trustee & 4 Member Trustees•Statement of Investments Policies & Guidelines•Ongoing & annual reporting = increased accountability
How is a Trust Fund protected?
Trust Account
Corporate Trustee
Trust Capital ($)Preservation for future
generations• Grows with inflation for benefit of future
generations• Income distributed to First Nation
annuallyFirst Nation AccountCash flow & flexibility for
today• Under control of First Nation with
accountability to the community
Independent
Investment
Manager(s)
Community Questions & Concerns
Discussion Groups• What have you been hearing within the
community regarding the Settlement Agreement?
• What concerns have you been hearing within the community regarding the idea of a Trust Agreement?
Your input & feedback is very important to us!
Please, submit your feedback to us on-line.
Update on Settlement Agreement
Where are we in this process?
• Aiming for a vote date of March 22, 2014.• Official Ratification Notice planned for
publication on February 15, 2014.
Contact Us
Your feedback is important to us!!!
Please send your questions, comments and concerns to our Communications Officer
Mike Isaac at [email protected]
Additional information regarding the Settlement Agreement can be found at
www.listuguj.ca
Thank you for sharing your time with us.-