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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 --

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