Raglan Trust, not Makivik, decides on cash distributions

I read with interest the article by Sarah Rogers in the May 7, 2010 issue of Nunatsiaq News entitled “Makivik ditches coupon plan for Raglan money.”

As a trustee and secretary of the Raglan 3 Trust, I would like to bring one correction to this otherwise excellent article.

Contrary to what you report, it is not the Makivik executive who decide how or to whom the trust funds are to be distributed; it is only the trustees of the Raglan 3 Trust who are permitted to do this and in a manner strictly in accordance with the terms of the trust.

Makivik can certainly make recommendations and suggestions to the trustees, but in the end it is only the trustees who decide any such matters.

Sam Silverstone
Secretary – Raglan 3 Trust
Montreal

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