Indianz.Com > News > Cobell expects settlement payouts within 8 to twelve months

Cobell expects settlement payouts within 8 to twelve months
Friday, December 17, 2010
Filed Under: Cobell

Elouise Cobell, the lead plaintiff in the Indian trust fund lawsuit, expects payments from the $3.4 billion settlement to start flowing within 8 to 12 months.

The settlement provides $1.5 billion to individual Indians. The deal also creates a $1.9 billion fund that will be used to pay landowners for their fractionated interests, which will be returned to tribal governments.

Judge Thomas Hogan will hold a hearing next Tuesday, December 21, to consider preliminary approval of the deal. Cobell said that will start the process for distributing the money.

"The next procedure that will happen, is there is a third-party class notification firm that has been hired by the government, that will be notifying all the class members of this settlement," Cobell told KFBB-TV.

President Barack Obama signed the settlement into law as part of H.R.4783, the Claims Resolution Act of 2010,

Get the Story:
Cobell Returns After President Signs Settlement (KFBB-TV 12/15)

Cobell Settlement Documents:
• Agreement | Press Release | Q&A | Audio

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