• Keith Mandan Keepseagle Appeal Date
• Cy Pres Funds

Cy Pres Funds COURT OF APPEALS AFFIRMS DISTRICT COURT RULING APPROVING FINAL PLAN FOR DISTRIBUTION OF REMAINING FUNDS PREVAILING CLAIMANTS TO RECEIVE AN ADDITIONAL PAYMENT On May 16, 2017 the U.S. Court of Appeals for the District of Columbia Circuit affirmed the district court’s decision approving the plan for distribution of the remaining funds. That ruling, described in detail below, provided for a payment of $18,500 to each prevailing claimant, along with $2,775 to the IRS on behalf of each claimant. Under the terms of that modification, those payments cannot be made until the appeal is concluded and the District Court’s order affirmed. The two objecting plaintiffs asked the Court of Appeals for a rehearing, but on September 20, 2017, the Court denied that request.

Access our premium content, receive daily and weekly news updates in addition to our industry-valued newsletters. $380 Million Keepseagle II Settlement Reached.

One of the two objectors has filed a petition asking the Supreme Court to hear the case; the second objector had expressed a plan to file as well, but the deadline has not yet passed. The Supreme Court will likely decide whether or not to allow the further appeal by spring 2018. We regret that we cannot make any payments prior to final resolution of the appeal. The ruling was 2-1 in favor of the hybrid plan. The one dissenting judge argued that the money should be returned to the federal Treasury; no judge voted in favor of the argument made by the two appellants for distributing all of the funds only to the prevailing claimants. Earlier Cy Pres Updates: APPEAL DELAYS SECOND PAYMENT TO PREVAILING CLAIMANTS On June 20, 2016, Keith Mandan filed an appeal of the District Court’s ruling granting modification of the settlement agreement.

Keith Mandan Keepseagle Appeal Date

That ruling, described in detail below, provided for a payment of $18,500 to each prevailing claimant, along with $2,775 to the IRS on behalf of each claimant. However, under the terms of that modification, those payments cannot be made until the appeal is concluded and the District Court’s order affirmed. We hope that the appeal will be ruled on by June 2017. We regret that we cannot make any payments prior to resolution of the appeal.

COURT APPROVES PLAN FOR DISTRIBUTION OF REMAINING FUNDS PREVAILING CLAIMANTS TO RECEIVE ADDITIONAL PAYMENT The parties reached an agreement on changes to the existing settlement agreement. The revised proposal, which has now been approved by the Court, provides each prevailing claimant a supplemental payment of $18,500 directly and $2,775 paid to the IRS on their behalf, for a total supplemental award of $21,275, with the balance of the funds being directed to non-profit organizations. After the supplemental awards to the prevailing claimants are paid, most of the remaining unclaimed funds would be placed in a Trust that could disburse the funds over a 20 year period, rather than immediately. Decisions on how to distribute the funds will be made by a board comprised of 14 Native American leaders, rather than by Class Counsel, as the original agreement provided. Recipients of grants from the settlement funds will be expanded from the original settlement agreement to include educational institutions and tribal-sponsored organizations.

The Funds may be distributed to new non-profit organizations serving Native farmers and ranchers, not just to previously existing organizations. An initial distribution of $38 million will be distributed more quickly to the same types of organizations (but only those who provided services to Native American farmers and ranchers prior to November 1, 2010), based on recommendations from Class Counsel that are approved by the Court. Organizations receiving funds are required to use the funds to provide business assistance, agricultural education, technical support, or advocacy services to Native American farmers and ranchers, including those seeking to become farmers or ranchers, to support and promote their continued engagement in agriculture. A copy of the Court’s ruling is. The Addendum to the Settlement Agreement that the Court approved is. Next steps: Before we can make any payments, we have to wait to see if anyone files an appeal.

The deadline to file an appeal is 60 days from the date of the Court’s ruling, which was April 20, 2016. If no appeal is filed, then the supplemental payments will be issued no later than 60 days after the time to appeal has expired. Thus, if there is no appeal, supplemental payments will be made to prevailing claimants in Summer 2016. If there is an appeal, then everything will be put on hold.

If you are a prevailing claimant, and have changed your address since the initial distribution, please let the Settlement Administrator know your updated address. Contact information is available. If you are a non-profit organization seeking to apply for funds from the initial $38 million distribution, we will post information as soon as possible. REVISED PROPOSAL FOR CHANGES TO SETTLEMENT COMBINES TWO PRIOR PROPOSALS – DEADLINE TO COMMENT IS JANUARY 20, 2016 After the district court rejected both Mrs.

Keepseagle’s proposal and the Plaintiff Class proposal for how to modify the settlement agreement cy pres provisions, both Mrs. Keepseagle, and Class Counsel and the Class Representatives engaged in extensive further discussions with counsel for USDA.

The parties reached a new agreement on changes to propose to the existing settlement agreement. The revised proposal provides each prevailing claimant a supplemental payment of $18,500 directly and $2,775 paid to the IRS on their behalf, for a total supplemental award of $21,275, with the balance of the funds being directed to non-profit organizations. District Court recently ordered that it will accept written comments by mail from any Class member regarding the proposed modifications to the Keepseagle Settlement Agreement and the distribution of the leftover settlement funds. Class members include all of the following: successful claimants under Track A, successful claimants under Track B, and other Native American farmers or ranchers who applied for and were denied a loan from USDA from 1981 to 1999, whose claims in this case were denied for any reason or who did not file a claim. Comments must be written and mailed to the Court with a postmark date no later than January 20, 2016. Comments should be addressed to: Chambers of the Honorable Emmet G. Sullivan U.S.

District Court for the District of Columbia 333 Constitution Avenue N.W. Washington, DC 20001 Additionally, there will be a hearing in-person before the Court on February 4, 2016 at 10:00 AM EST in Courtroom 24A at the United States District Court for the District of Columbia, located at the above address. At this hearing, after counsel for the parties present their arguments to the court, the Court will permit any Class member in attendance to speak regarding the revised pending proposal.

Additional notice regarding the comment period, and the current status of the case, has been sent by U.S. Mail to all claimants, and is available, a brief description of the new proposal is set forth below. The new proposal is a combination of the two prior proposals. First, each prevailing claimant would be paid $18,500 directly and $2,775 would be paid to the IRS on their behalf, for a total supplemental award of $21,275.

Cy Pres Funds

Next, remaining funds would be distributed to help Native American farmers and ranchers through grants to non-profit organizations, as the current agreement provides.