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Recap: Twitter of Cobell settlement announcement

Recap of tweets regarding the December 8, 2009, announcement of a settlement in the Cobell case.

'Major' Indian trust announcement at 10:30am from DC. We'll be at DOI to twitter

DOI announcing a Cobell settlement today. It includes $2 billion to address fractionation. More details at 1030am

at doi for press conference regarding cobell. Starts at 1030am

see paragraph at bottom

more on fractionation

Elouise cobell is here for announcement. She said today is a "monumental" day.

Cobell talks have been under gag order issued by fed judge.Elouise flew to dc yesterday.They were working with Obama admin well into night

Odd Timing?? DOJ honors attorney who worked on Cobell

Elouise Cobell will speak at press conference with AG Holder and Secretary Salazar

Keith Harper, Cherokee, and other attorneys from Kilpatrick Stockton just came in

Dennis Gingold, another lead counsel, also here.

Oops! DOI gave out a press sheet too early to media and now they want it back

Cobell press conference yet to start but lots of people at DOI penthouse.

Larry echohawk just came in

It got quiet all of a sudden!!

Secretary Salazar and AG Holder just came in!

Its on!

Hilary tompkins, Navajo, who is Doi Solicitor, also at press conference

$1.4 billion to plaintiffs plus $2 billion for fractionation

elouise cobell and Hilary tompkins

Sec Salazar also signing order today to create commission to help sunset Office of Special Trustee

AG Eric Holder: "Today we turn the page"

Cobell settlement needs Congressional and judicial approval

Cobell settlement resolves historical accounting as well as future claims

Bob Hirshman at DOJ was main negotiator for cobell settlement

Judge Robertson oversaw Cobell talks. Secretary Salazar participated at "key" points, says dep sec David Hayes

DOI solicitor Hilary tompkins, Navajo

Elouise Cobell: "today we have an administration that is listening to us"

Elouise Cobell says $3.4B is clearly lower than full amount owed but settlement needed to help elders and other account holders

Elouise Cobell thanks attorney Dennis Gingold for his work on case

Elouise Cobell says judge Robertson brought parties together. Also thanks Judge Royce C Lamberth

Q&A from press: how did you get $1.4B??

Sec Salazar says $1.4b, plus $2b, is fair for Indian country "I think it's a good deal for them"

Q: When can we expect congressional approval?

Sec salazar says he went to senate this morning to start pushing deal. He says he wrote notes to some of his former colleagues.

Sec Salazar hopes to get congressional approval by end of this year. Judicial approval will take "several" months

Q: how will you convince account holders to settle and/or sell fractionated interests?

Sec salazar says there's great incentive in indian country to settle

Q: how much to attorneys??

Associate atty general tom perilli says $1.4b includes attorneys fees

Q from rob C of Indian country today via phone about $1000 check to account holders

Q from Charlie savage of new york times: how did deal come about?

Dep sec David Hayes: "we almost lost a deal last night". says talks started early summer. Talks intensified in last two weeks

"this is a historic day" says sec Salazar. Press conference is over!

Elouise mobbed by reporters

Donna Erwin,creek,also here. She is acting as Special Trustee

Elouise Cobell

Asked Elouise & she said settlement would resolve damages prior to 2009.Individual indians could still sue for post-2009 damages in future

Asked Elouise & she said $1000 for each account holder gets money in their hands.Additional money will be distributed based on formula

Asked Elouise & she said "some people will be getting a lot of money" depending on the type of activity on their land

Asked Elouise & she was worried that $455M figure that was in judges decision was too low. So $1.4B is a good settlement she says