So far, a few beneficiaries have opted out of Cobell settlement
Wednesday, March 16, 2011
Filed Under:
Cobell
So far, only a handful of Indian beneficiaries have opted out of the $3.4 billion settlement to the
Indian trust fund lawsuit, a top official said on Tuesday.
Ray Joseph, the acting head of the
Office of the Special Trustee for American Indians, said 28 people have excluded themselves from the portion of the settlement that addresses trust mismanagement.
He didn't have more detailed information about the opt-out rate but promised to provide it to the
Senate Indian Affairs Committee.
"I think it's a very small percentage, based upon ... approximately 300,000 individual member accounts," Joseph told
Sen. Daniel Akaka (D-Hawaii), the chairman of the committee.
Beneficiaries have until April 20 to opt out of the "Trust Administration Class" of the settlement. Those who do so will be able to file damages lawsuits in
U.S. Court of Federal
Claims.
Committee Hearing:
OVERSIGHT
HEARING on the President's Fiscal Year 2012 Budget for Tribal Programs
(March 15, 2011)
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