settlement agreement presentation: review, discussion & update listuguj , quebec january 2014
DESCRIPTION
Settlement Agreement Presentation: Review, Discussion & Update Listuguj , Quebec January 2014. Settlement Agreement Review. Settlement Agreement: What the agreement IS about… Compensation for Breach of Fiduciary Duty - PowerPoint PPT PresentationTRANSCRIPT
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Settlement AgreementPresentation:
Review, Discussion & Update
Listuguj , QuebecJanuary 2014
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Settlement Agreement Review
Settlement Agreement: What the agreement IS about…
• Compensation for Breach of Fiduciary DutyFiduciary 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.
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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)
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MAPS
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Settlement Agreement ReviewSettlement Agreement: What the agreement
IS NOTabout…• The sale of landSettlement Agreement: What the agreement
DOES NOT affect• Aboriginal Title• Aboriginal Rights• Treaty Rights
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Settlement Agreement ReviewNegotiations are a “Give & Take”…What would we gain?•Compensation amount of $64.5 millionWhat would we agree to in return?•We could not sue Canada again for Breach of Fiduciary Duty regarding the same 5 parcels of land.•Cross Point (Mann-Fraser Estate) will continue to exercise their existing interest in the land (i,e. They are not re-locating)
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Settlement Agreement Review
• Canada has agreed that the exercise of Aboriginal Rights, Aboriginal Title and Treaty Rights of Listuguj are unaffected.
• Any disputes about Aboriginal Rights, Aboriginal Title and Treaty Rights in Cross Point (as the same anywhere else) are left to be negotiated or litigated at a later date.
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Community Concerns & Misconceptions
Common Misconceptions• We are selling the land – FALSE• By accepting this agreement, we will
forfeit our Aboriginal rights – FALSE• We can get more money if we re-open
negotiations with Canada before a vote- FALSE
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Trust Agreement & Trust Fund
•To safeguard the settlement compensation and to ensure that the settlement benefits both the current & future generations
Why have a Trust Agreement & Trust Fund?
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Trust Agreement & Trust Fund
•Trust Agreement – with specific details•Corporate Trustee & 4 Member Trustees•Statement of Investments Policies & Guidelines•Ongoing & annual reporting = increased accountability
How is a Trust Fund protected?
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Trust AccountCorporate
Trustee
Trust Capital ($)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)
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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.
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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.
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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.-