Open Letter to Peguis Members – Don Wilson, Interim CEO and Board Chair of CPIC
Dear Peguis First Nation Community Members,
In accordance to our long-standing commitment to accountability and transparency, I am writing to you today on behalf of Chief Peguis Investment Corporation (CPIC) to provide an update to community members in regards to the conclusion of the Inspectorship conducted by Deloitte Restructuring Inc. (Deloitte) as part of our ongoing settlement with Peguis First Nation (PFN). In the interest of providing some background for how this settlement and subsequent Court ordered inspectorship arose, Peguis First Nation and CPIC came to an agreement in November 2023 to settle litigation commenced by PFN in July of 2022 at the direction of the former Chief and Council. As part of this settlement, both parties agreed to appoint an independent accredited accounting firm to be appointed as Inspector to provide a report for PFN and CPIC following a review of CPIC’s business and financial affairs, which can be filed with the Court upon request. CPIC welcomed this court ordered inspectorship as part of the settlement process as we had already made repeated documented and unsuccessful attempts to former Chief and Council representatives offering to provide unfettered access to our financial records months prior to the unnecessary Court action taken against CPIC. Based on best available information and communications, CPIC is confident that a final report has now been completed by Deloitte Restructuring Inc. and should be in the process of being filed with the Courts as part of efforts to conclude the settlement between PFN and CPIC. Read more
Chief Peguis Investments Corp. reply to the Peguis Chief and Council Community Update of Jan. 4, 2022
On January 4, 2023, the Chief Peguis Investment Corporation (CPIC) Board of Directors were made aware of a Peguis First Nation (PFN) publication titled ”Re: Community Update” that included several inaccurate and disingenuous statements made by Peguis First Nation Chief Glenn Hudson and Council regarding the nature and performance of CPIC operations, the BFI Loan agreements, and the terms of reference for
the Deloitte Restructuring Inc. Inspectorship outlined in the Minutes of Settlement and Consent Order that resulted from an action commenced by PFN against CPIC, in the Manitoba Court of Queen’s (Kings) Bench, Winnipeg Centre, under File No. CI 22-01- 36297
CPIC has notified our legal counsel to review the defamatory statements made in this community update and we have reached out to both Deloitte and PWC to determine if the statements attributed to them in the update, were in fact made by them. At this time the source of these statements of conjecture which attributed to Deloitte and PWC representatives have not been confirmed. CPIC has been fully cooperating with the Deloitte Restructuring Inc. team in the ongoing Inspectorship exercise and we can confirm that the Inspectorship review and resulting report has yet to be completed.
Upon completion of our due diligence process with Deloitte, PWC, and our Legal Counsel regarding the statements made in the aforementioned community update, CPIC will be issuing a comprehensive fact-based response that will identify and correct all inaccuracies contained in the Peguis First Nation “Re: Community Update” released on January. 4th, 2023.
The CPIC Board of Directors are extremely disappointed that Peguis First Nation Chief and Council have continued to publish material riddled with misinformation, deception, and a total lack of leadership and accountability for their own decisions and action.
CPIC will not tolerate any harassment or defamatory statements made toward CPIC Board of Directors and staff. CPIC Board of Directors will be publicly releasing our response for the benefit of Peguis First Nation members in the following days. This communique has been approved unanimously by the CPIC Board of Directors.
About Us
Chief Peguis Investment Corporation is mandated by Peguis First Nation to pursue investments that will truly benefit the community by providing investment income, capacity building, employment opportunities, both on and off reserve, and community involvement.
Our Mission
Our mission is, through key strategic investments, to become a self-sustainable economic development entity that will provide returns and benefits to the membership of Peguis First Nation.
5 Key Investment Areas
Our focus is on five key investment areas; retail, wholesale, residential, commercial, & philanthropic.