Wednesday, June 04, 2014

Navajo Nation v. United States

The Navajo understood early on how they were being hoodwinked out of billions by their overlord.   Funny how that works.    A sovereign that has trust responsibility totally fails in it's mission to provide trust and accountability to a Native nation.

Check this settlement.   Easy to believe, just hard to swallow.

On May 30, 2014, the Navajo Nation Council approved a $554 million settlement that the tribe reached with the United States for its historical mismanagement of the tribe’s trust fund assets. It is the largest trust mismanagement settlement ever obtained by a single tribe against the U.S. 

The settlement is the culmination of years of negotiation between the Navajo Nation and the U.S. after the Navajo Nation sued the U.S. Department of Interior in 2006 for breaching its trust obligations to the tribe in failing to adequately manage, invest and account for tribal trust funds and resources and maximize the related trust income. Claims under the lawsuit dated back to 1946.

Internally, the Navajo Nation established the Historical Trust Asset Mismanagement Litigation Trust Fund, which helped finance the lawsuit. The tribe also established the Trust Management Litigation Taskforce comprised of eight council delegates to guide the Navajo Nation Department of Justice and the tribe’s outside counsel, the BuckleySandler LLP firm and co-counsel the Nordhaus Law Firm, during the litigation. 

The settlement will be executed and payment made to the Navajo Nation once Navajo Nation President Ben Shelly and the U.S. Departments of Justice, Interior and Treasury provide a final review and approval of the terms of the agreement.

No comments:

Native American Advisors CHIPPEWA PARTNERS

My photo
CHIPPEWA PARTNERS, Native American Advisors, Inc. is a Registered Investment Advisor, founded by Dean Thomas Parisian in 1995. The firm is a manager to an exclusive clientele and is closed to new clients. As a Registered Investment Advisor, our expertise developed over 35 years balances experience, integrity and tremendous work ethic. Dean Parisian is a member at the White Earth Reservation of the Minnesota Chippewa Tribe, a former NYSE and FINRA arbitrator and trader who began his career with Kidder Peabody and later worked for Drexel Burnham Lambert in LaJolla, CA. His philanthropic interest is in Native American education and he's endowed a significant scholarship for Native Americans at the University of Minnesota. His greatest accomplishment includes raising two sons and 26 years of marriage. The Parisian family enjoys outdoor pursuits at Pamelot, their farm in Tennessee and at the Ghost Ranch, their ranch on the Yellowstone River in Montana. For media requests contact the firm via email: ChippewaPartners (at) gmail dot com, on Twitter: @DeanParisian. Global 404-202-8173