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BROAD v. SEALASKA CORP.

No. 94-35310.

85 F.3d 422 (1996)

Laurie Isaac BROAD, For Himself and all Others Who are Similarly Situated, Plaintiffs-Appellants, v. SEALASKA CORPORATION; Sealaska Elder Settlement Trust; Patrick Anderson; Charles Carlson; Joseph Demmert, Jr., et al., Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided May 16, 1996.

Attorney(s) appearing for the Case

Fred W. Triem, Petersburg, Alaska and Douglas M. Branson, Professor of Law, Seattle University, Tacoma, Washington, for plaintiff-appellant.

E. Budd Simpson, L. Merrill Lowden, and Ronald W. Lorensen, Simpson, Tillinghast, Sorensen & Lorensen, Juneau, Alaska, for defendants-appellees.

Bruce N. Edwards and Michael R. Sorensen, Sorensen & Edwards, Seattle, Washington, for the amicus.

Before: HALL, WIGGINS and KLEINFELD, Circuit Judges.

Opinion by Judge HALL; Dissent by Judge KLEINFELD.

CYNTHIA HOLCOMB HALL, Circuit Judge:

Sealaska Corporation, a Native regional corporation organized under the Alaska Native Claims Settlement Act (ANCSA), established a "settlement trust" as authorized in an amendment to ANCSA. This trust, titled the Elders' Settlement Trust (EST), provides a one time $2000 payment to each Sealaska shareholder who reaches sixty-five years of age. The plaintiffs, who are shareholders...

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