Lawsuit claims Bearspaw Nation lost millions in delayed trust money transfer

By Jessica Lee  Local Journalism Initiative Reporter Bearspaw First Nation has taken the federal government to court after it took officials nearly four months to sign off on a trust money transfer, losing out on investment opportunities for the band. The lawsuit claims the Nation lost $5 million between May 26, 2021, when the transfer was to be made, to Aug. 17, 2021, when a ministerial order was eventually signed. “It was held back and we had to take Canada to court over it,” said Bearspaw Chief Darcy Dixon. “During that time, over the months, it cost our people $5-6 million dollars that could’ve been invested.” About $150 million in capital funds was held by the federal government on behalf of the three First Nations forming Stoney Nakoda before Bearspaw’s $53-million…

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