Cobell is OUT!
Judge Robertson writes:
These findings and conclusions, derived not only from the trial, but also from the extensive record that preceded it, support and explain my decision (i) that, although the defendants have attempted and continue to attempt to cure the breach of their fiduciary duty that was found in Cobell V and affirmed by Cobell VI, they have not succeeded in doing so; (ii) that the historical statements of account contemplated by defendants' latest accounting plan will not satisfy defendants' duties "rooted in and outlined by the relevant statutes and treaties . . . [and] defined in traditional equitable terms," Cobell VI, 240 F.3d at 1099; and (iii) that the defendants have unreasonably delayed the completion of the required accounting. Indeed, it is now clear that completion of the required accounting is an impossible task.
I'll have so much more to say, but wanted to get this up right away!
Thanks to Acee at Indianz.com for the email!
In the meantime, read Indianz write up.
Here's the decision.
Update1: An interesting footnote from Robertson:
"I do not reach the conclusion urged by plaintiffs: that an adequate accounting is impossible because of the problem of missing records. The record before me is inconclusive on that point. The record is not inconclusive, however, on the tension between the expense of an adequate accounting and congressional unwillingness to fund such an enterprise."
Robertson is referring to the actions of a Republican Congress, some of which I discussed here on Wampum two years ago. Essentially, Tom Delay rammed through legislation defunding the accounting. Why? My theory was then, and now remains, that BigEnergy fears an accurate accounting, as it will begin to uncover their many misdeeds regarding royalty underpayments, possibly on the scale of tens (hundreds?) of billions. Robertson is laying the blame at the feet of Delay et al. Note that he does not commit to whether an accounting is achievable in relation to documents - to say as much would close the door on one huge source of documentation of trust accounts - the books of BigEnergy!
