Blood Tribe Reaches $150 Million Settlement Deal With Feds Over Asset Mismanagement

It's compensation for the loss of the Blood Tribe cattle industry and the overstocking and overgrazing of pasture land on the reserve back in the 1900's.

The Blood Tribe has reached a major settlement deal with the federal government relating to a long-standing claim involving mismanagement of  the Tribe's assets.

The agreement means the Blood Tribe will get $150 million.

It's compensation for the loss of the Blood Tribe cattle industry and the overstocking and overgrazing of pasture land on the reserve back in the 1900's. 

Blood Tribe members overwhelmingly voted this week to ratify the settlement. Chief and Council says once the agreement has gone through the necessary steps by the Government of Canada, the settle funds will be sent to the Blood Tribe to be held in trust and utilized as part of a Trust Agreement.

As part of the agreement, each Blood Tribe member is expected to get $2000, which is roughly $23 million from the total claim.

Below is a video posted to the Blood Tribe website, explaining the claim prior to the membership vote.

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