Resources and publications

A number of native title groups have seeded their own Future Funds and are growing an asset base to meet the needs of future generations. We will discuss the governance policies, investment strategies and transparent reporting structures of Future Funds, including their ability to take a long term view of investments and ride out world economic cycles.

In Griffiths v Northern Territory of Australia (Timber Creek Decision) the Federal Court ordered that the Northern Territory Government pay $3.3M including $1,488,261 for interest, to the Traditional Owners as compensation. The court considered that ‘the appropriate interest calculation is simple interest’ as there was insufficient commercial activity to justify compounding returns. 

In this presentation we will explore how investing a portion of available funds in a Future Fund may influence the courts to apply compound interest. Economic modelling will demonstrate that with a Future Fund the settlement amount could’ve been entirely different.

The future act regime provides a mechanism through which some native title holders are in a position to negotiate compensation for the impact of the future acts on their native title rights and interests.

In representing clients in negotiations and assisting with implementation of agreements, we were concerned that the native title groups had for so long focused on securing their native title determinations that they had not had the opportunity to review their community aspirations and needs. Such a review would provide the groups with a stronger negotiating position and implementation of the agreement can be more rigorous.

In 2013 the Future Act Mining and Exploration (FAME) Unit embarked on a new initiative of 'Community Planning' with certain native title groups who were affected by mining and exploration. In 2016, the 'Western Yalanji People Community Plan' was nominated for, and won a commendation award in the Public Engagement and Community Planning category of the Planning Institute of Australia Awards, held in Brisbane.

This presentation explores the community planning process and discusses the outcomes and achievements arising from the Western Yalanji People Community Plan.

Mr Hughston SC will discuss the approach taken by the Court in Griffiths v Northern Territory of Australia (No 3) [2016] FCA 900 (Timber Creek) to the assessment of compensation and in particular the division of the award of compensation into components of economic and non-economic loss. Mr Hughston SC will discuss the uncertainties associated with both components.