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Barden, Tribe Reach Settlement

7 October 2005

MICHIGAN – As reported by the Crains Detroit Business: "Detroit businessman Don Barden and the Lac Vieux Desert Band of Lake Superior Chippewa Indians reached a $33 million settlement Wednesday in a dispute over a 2001 agreement.

"Under that deal, Barden was to receive 50 percent of what the Indians might win in court by challenging the Detroit casino licensing process because he had assisted the tribe in its lawsuit.

"Barden sued Lac Vieux in Wayne County Circuit Court last July, charging that the tribe's lawyers had notified him that they considered the agreement to have expired and would make no further payments.

"On Wednesday, Judge Gershwin Drain approved a consent judgment giving Barden Development Inc. an immediate payment of $7.2 million, a payment of $5.75 million in April 2006, and $1 million each year from April 2007 through April 2027 plus an additional $250,000 in April 2027…"

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