$10B Robinson Huron Treaty settlement paid in full — and accruing $1.3M in daily interest

The Robinson Huron Treaty Litigation Fund has received the final installment of a historic $10-billion settlement from Canada and Ontario after a lengthy court battle over unpaid treaty annuities — and now, the money will collect $1.3 million in interest for each day it sits in the legal team’s coffers while a number of proposed changes to the disbursement agreement are being discussed.

The total amount of interest earned on the $10-billion settlement will be divided among all 21 First Nations under the treaty, which saw the Anishinabek of Lake Huron cede much of northeastern Ontario to the Crown when it was signed in present-day Sault Ste. Marie in 1850. The Robinson Huron Treaty Litigation Fund filed a statement of claim in court surrounding compensation for past treaty annuities in 2012, with stage one of the trial beginning five years later.

Years before the battle for compensation over past annuities entered the courtroom, RHT chiefs and trustees had already devised a collective disbursement agreement: Priority Payment 1 concerns legal fees and other costs, plus a 25-per-cent return on original investments by each nation when the litigation fund was created.

During the confidential meeting in late March, the Robinson Huron Treaty Litigation Fund reportedly proposed a number of amendments to the compensation disbursement agreement that it believes will speed up the transfer of funds to First Nations, including:

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