(Vancouver, BC) The BC Métis Federation is asking Métis people, Governments, and industry to consider questions related to Métis Nation British Columbia (MNBC) this week. MNBC leaders and supporters continue to use divisive tactics regarding the right of BC Métis Federation to represent their members with government and industry. MNBC continues to refuse to find more effective solutions together for the betterment of all Métis they claim to represent. As such BC Métis Federation is asking people to as ponder this situation.
In June of 2012 BC Metis Federation secured an independent legal opinion from a law firm in Vancouver to seek about MNBC at that time. The legal opinion speaks for itself and is relevant today. This letter is relevant today in terms of the notion that MNBC/MPCBC remains “functionally bankrupt”. In fact, MNBC/MPCBC is worse off financially than they were at the time BC Metis Federation secured this independent legal opinion in 2012.
According to the MNBC/MPCBC financial statements as of March 31st, 2016 (4 years after the legal opinion) this non-profit organization has accumulated stated insolvency of $2,793,799.00 with outstanding long term debt of over $2.2 million which does not show up on the insolvency but will if not paid during the balance of the long term loan payment terms. This means if MNBC could not pay the $2.2 million this amount would be added to the current stated insolvency.
BC Métis Federation has been critical of government and industry for the years of ignoring such serious financial challenges of MNBC/MPCBC. The current financial state of MNBC/MPCBC was self imposed by poor business decisions such as the improper purchase of the school in 2009, overspending on MNBC/MPCBC administration, failed Meet-so Catering business, and other financial decisions by their leadership and management.
The question to be asked is how is and how will MNBC/MPCBC address? The only way MNBC/MPCBC pays for the current organizational debt (insolvency) is with savings from government funded programs and industry investments. Ask yourself how does MNBC/MPCBC pay the monthly debt charges? For example, the long-term debt in 2017 requires $180,000, in 2018 requires $180,000, 2019 requires $440,000 and these payments are required until 2028. This only addresses the stated long term debt as per note 7 in their financial statements. This does NOT address the stated organizational debt (insolvency) of $2.793, 799.00. This will require MNBC/MPCBC to save in other ways to pay this off.
Efforts were made to address this serious matter for years and governments and industry stood back. Now MNBC/MPCBC consolidates their funding and creates savings to pay for the foolish business decisions in 2009 and following years. There is no proper support for industry consultation or capacity for MNBC/MPCBC Métis members or their communities. Worse yet MNBC/MPCBC has no stated debt recovery plan or explanation how they have been currently paying these enormous financing costs. Ask yourself how? How are they paying for this? From which program funds?
BC Métis Federation President Henry concluded; “It is astonishing that governments and industry have ignored this major issue. There is an agenda to prop up MNBC/MPCBC at all costs but we will make sure people do not forget how we got here. BC Metis Federation offers a better way forward and I hope Métis people ask MNBC/MPCBC management and leaders simply how are they paying for all of this?”
Keith Henry, President
BC Métis Federation
#300-3665 Kingsway Vancouver, BC V5R 5W2
Office 1-604-638-7220 Cell 1-778-388-5013
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[ilink url=”http://bcmetis.com/wp-content/uploads/BHT-Legal-Opinion-June-20th-2012-1.pdf” style=”download”]Click here to view the BHT Legal Opinion from June 2012[/ilink]
[ilink url=”http://bcmetis.com/wp-content/uploads/BCMF-Press-Release-May-29th-2017-How.pdf” style=”download”]Click here to view this press release as a downloadable PDF[/ilink]