ca(RockedBuzz via Reuters) – Canada has reached an agreement to settle a class action lawsuit, seeking compensation for the loss of language and culture caused by Indian residential schools, worth C$2.8 billion ($2.09 billion ).
The deal builds on the 2021 Gottfriedson Day Scholars Agreement, which provided individual compensation to day scholars who attended a residential school but were not resident at the institution.
Canada will provide the transaction amount to a non-profit, government-independent fund as part of the class transaction.
The organization charged with administering the trust will be governed by a permanent council made up of nine indigenous directors, the government said in a statement.
The terms of the settlement have yet to be approved by the Federal Court.
($1 = 1.3380 Canadian dollars)
(Reporting by Rishabh Jaiswal & Maria Ponnezhath in Bangalore)