LMC Update on the Status of the Court Applications
The application brought by the LMC seeking directions with respect to the settlement proceeds and the application brought by Gimaa (Chief) Nootchtai and other parties seeking to assess the legal fees of the lawyers for the RHTLF were both heard by Justice Steele of the Superior Court of Justice on July 30, 2024.
Our lawyers asked the court to direct that the settlement proceeds were not “Assets” of the RHTLF and that as a result a passing of accounts was unnecessary before the funds could be disbursed to the 21 First Nations. In addition, our lawyers submitted that the legal fees of the lawyers have been approved by the majority of the trustees as the Trust Indenture of the RHTLF requires and that there is no need for the fees to be assessed by the court.
Justice Steele reserved her decision after a full day of argument. She made it clear in her closing remarks that there is no reason for the distribution of the settlement proceeds to be delayed. As a result, the RHTLF will be disbursing the settlement proceeds to the 21 First Nations in early August as planned.
The LMC will be following up with additional information regarding next steps in the very near future to facilitate the compensation money transfer from the RHTLF to the First Nations.
