31420-12-1 SAWRIDGE, Indian vs. ROLAND, Twinn et al
31420-12-1 SAWRIDGE, Indian vs. ROLAND, Twinn et al
31420-12-1 SAWRIDGE, Indian vs. ROLAND, Twinn et al
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F50<br />
1 historic<strong>al</strong>ly where it was not that bad; but in most cases when a First Nation has a large<br />
2 sum of money, the Crown essenti<strong>al</strong>ly has decided they’re going to invest <strong>al</strong>l of that<br />
3<br />
4<br />
money in one investment.<br />
5 Tohis credit, Chief W<strong>al</strong>ter <strong>Twinn</strong>, at the time, obviously decided that this First Nation’s<br />
6 money would be b<strong>et</strong>ter off invested in a more diversified type of portfolio involving re<strong>al</strong><br />
7 estate. He was far ahead of his time in that regard; and as a result, he would have gone<br />
8 tothe Crown pursuant to the provisions of 64(1)(a) of the <strong>Indian</strong> Act with a band council<br />
9 resolution requesting withdraw<strong>al</strong> of capit<strong>al</strong> money to invest in whatever the investment<br />
10<br />
11<br />
was at that time.<br />
<strong>12</strong> So that’s how you end up -- and once it was d<strong>et</strong>ermined, I think -- and I think you’ve got<br />
13 the evidence before you, once these properties were in the names of individu<strong>al</strong>s, how they<br />
14 then became transferred to the trust for the benefit of the First Nation. So that’s a brief<br />
15<br />
16<br />
description of essenti<strong>al</strong>ly how the monies g<strong>et</strong> to the trustee.<br />
17<br />
18<br />
Those are our submissions, My Lord, unless you have any questions.<br />
19 THE COURT: This is a question I should have put to you<br />
20 right at the beginning. Imean, clearly there is a relationship b<strong>et</strong>ween the trustees and the<br />
21 Sawridge First Nation; but just looking at this as a piece of litigation, as an action that is<br />
22<br />
23<br />
before the Court, I mean, it is an application that is --<br />
24 MR. MOLSTAD:<br />
25<br />
Yeah.<br />
26 THE COURT: -- before the Court, should the Sawridge First<br />
27 Nation be made a party, added as a party? I mean, you have come and made<br />
28 submissions, so clearly I do not think there would ever be any doubt about the standing<br />
29<br />
30<br />
of --<br />
31 MR. MOLSTAD:<br />
32<br />
Yeah.<br />
33 THE COURT: -- Sawridge First Nation to, you know, come<br />
34<br />
35<br />
and take a position, but in moving it up the more form<strong>al</strong> level --<br />
36 MR. MOLSTAD:<br />
37<br />
But I--<br />
38 THE COURT:<br />
39<br />
-- should you be a party or your client --<br />
40 MR. MOLSTAD:<br />
41<br />
I’m --