Parisian Family Office, CEO. Began Wall Street, 1982. Founded investment firm, CHIPPEWA PARTNERS, Native American Advisors. Active Trader. White Earth Chippewa Tribal member. Was NYSE/FINRA arb. Conservative, raised on Great Plains reservations. Pureblood, clot-shot free. In a world elevated on a dopamine binge, this is his take! Written from MT Ghost Ranch on the Yellowstone River, TN farm Pamelot or San Jose del Cabo, Mexico, CASA TULE'. Always been, will always be, an optimist.
Wednesday, June 04, 2014
Navajo Nation v. United States
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.