Notebook Grinning like a well-fed cat

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Court rejects mismanagement investigation of Dutch sector scheme

first_imgThe court largely blamed the VO for the troubled relationship with the pension fund’s board.“The conclusion is that the VO is unwilling to contribute to a workable relationship with the board as well as the supervisory board,” it said.Although the court said it was unfortunate that the pension fund had placed an unofficial version of its annual report on its website, it concluded that this was not a valid reason to question the scheme’s policy.In a response, the VO called the verdict “unsatisfactory” and said it also disagreed with the limited role the corporate court saw for the VO.“This way, it is no more than a discussion group,” commented Hans van Meerten, the pensions lawyer representing the accountability body.In his opinion, the upcoming evaluation of new governance legislation would be a good moment for the political parties to clarify the VO’s role.Van Meerten said that the VO was considering further legal steps, as the verdict could still be challenged at the high court (Hoge Raad).The pension fund’s board said it was pleased with the conclusion of the corporate court.Last September, it warned that the VO’s decision to ask for a court’s assessment of the board’s work could “seriously delay” the scheme’s plan to join PFZW as well as the implementation of its pension plan. At the time, Rob van Leeuwen, Tandtechniek’s chairman, said that the board’s decision to liquidate and transfer pension rights to PFZW was supported by its independent internal supervisors (RvT).“And our annual reports have always been approved by both the RvT and the external accountants,” Van Leeuwen added.Four years ago, the VO accused the board of “substandard performance”, such as relying too much on its pensions provider and asset manager Syntrus Achmea, and waiting too long to introduce a strategic interest rate hedge as well as a dedicated risk committee.At the time, it noted that the combination of necessary rights cuts and lack of indexation had caused participants to lose 30% of their pension rights.At the end of November 2017, funding of Tandtechniek stood at 92.2%. As a consequence, the scheme’s participants are most likely facing another significant rights cut when Tandtechniek joins PFZW. The Netherlands’ corporate court will not instigate an investigation into possible mismanagement at the Dutch pension fund for dental technicians (Tandtechniek).It rejected the demand for an investigation by the scheme’s accountability body (Verantwoordingsorgaan, or VO), concluding that the VO’s interpretation of its own role was “too liberal”.Last year, the VO brought the court case – the first ever initiated by an accountability body – as it was dissatisfied with the pension fund board’s policy. The accountability body also asked the court to sack the board and replace it with an administrator.However, the court verdict said the VO had failed to appreciate its role, explaining that case law showed the accountability body was meant to advise on decision making and policy rather than take action directly.last_img read more

Developer adopts a keen local focus

first_imgUnison Project’s Prest Point Residence’s pool facility.Unison Projects developer Shannon Down said even though the community was only 12km from the Brisbane CBD, it was surrounded by flora and fauna. “Yet you have the convenience of being very close to many local amenities and substantial infrastructure,” he said. “We’ve designed Preston Point Residences to take advantage of the site’s unique natural attributes, maximising the strong natural connection and sense of community.“Just two-thirds of the 3.2ha site is being developed, to provide for extensive and private green open space.” It’s a similar theme further north at Unison Project’s Griffin Pocket estate, where 245 lots have been sold. The company has also launched its next precinct of just 11 lots, ranging in size from 350sq m to 1051sq m and priced from $278,000. More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoMr Down said several buyers registered early and had waited for the release.“We have already sold several blocks in the first week of release, with purchasers recognising the uniqueness of this location,” he said. Unison Projects recently secured another property, immediately south of Griffin Pocket, called The Shores, a 141-lot residential precinct. “We are extremely excited by the uniqueness of this next 120-lot project, which is named Griffin Pocket Riverside,” Mr Down said. Unison Project’s Prest Point Residence’s home exterior.Work has begun on the second stage of Preston Point Residences, which is being built on a iconic site at Albany Creek – the former Hawkins Garden Centre. Developer Unison Projects is responsible for the project, having invested extensively in the southern Moreton Bay region with a variety of residential land and housing projects under way. The project, which will comprise 74 townhouses on the banks of Albany Creek, was named Preston Point by local high school students in honour of original owner John Preston. Griffin riverside land by Unison Projects.“Everyone who has visited the site to date has commented on the quality of the land and they are amazed by its attributes, including the sea breezes and water views over the Pine River to the east, and mountain views and bushland setting to the west.” Mr Down said Unison was working with Moreton Bay Regional Council to create plans for the protected foreshore. “We see great opportunities to not only protect and enhance the natural foreshore environment, but also to celebrate the river frontage of this site by providing public access to parkland infrastructure, which will benefit the wider community,” he said. “We are confident that Unison will deliver an enviable lifestyle precinct at Griffin Pocket Riverside.” Mr Down said Unison was seeking – and buying – more quality residential land in the Moreton Bay region.It is due to start work soon on a 38-lot development at Dakabin and a 40-lot subdivision within the Capestone by Urbex estate at Mango Hill. “We are heavily invested in the Moreton Bay region, and with good reason,” Mr Down said.CoreLogic data shows the median sales price for a house in the council area has risen by 2.4 per cent to $460,000 during the past 12 months.last_img read more

Saints third after Fulham victory

first_img Despite a summer of big-money signings, talk on the south coast of a European challenge was laughed off by most right-minded people. However, Saints are dumbfounding such naysayers, with Saturday evening’s victory over Fulham propelling them to third in the Barclays Premier League and making this a better start than they managed when finishing runners-up in 1983/84. They will do well to match that this term, although a European push looks possible after their latest impressive performance. Mauricio Pochettino’s side dominated from the outset at St Mary’s, with Fulham failing to muster a single shot in a first half in which headers from Rickie Lambert and Jay Rodriguez put the hosts deservedly ahead. Only Maarten Stekelenburg’s fine form, the goal frame and bad luck prevented Saints racking up a greater margin of victory, as they secured a sixth clean sheet of the campaign. It is easy to forget that only three years ago Southampton were plying their trade in the third tier, especially when Saints can win so easily without their club record signing. Italy international Dani Osvaldo joined from Roma for nearly £15million in the summer, but was unable to feature against Fulham due to a minor nerve issue. His absence saw Lambert return to the starting line-up as one of two changes from the side that held Manchester United to a 1-1 draw last weekend. Adam Lallana scored the equaliser at Old Trafford and was almost involved in another goal after five minutes on the south coast. The Saints captain dispossessed a dawdling Philippe Senderos and went on to test Stekelenburg, whose parry would have been slotted home by Morgan Schneiderlin was it not for Fernando Amorebieta’s clearance off the line. Southampton’s rise continued with a comprehensive 2-0 defeat of Fulham making this their best ever start to a top-flight season. Lambert fired a tame effort straight at Stekelenburg as Saints’ fine start continued, before Senderos reacted quickly to stop the England international putting Rodriguez through on goal. Victor Wanyama flashed a left-footed 30-yard strike just wide as Pochettino’s side continued to threaten an opener that arrived in the 20th minute. James Ward-Prowse’s corner from the right was flicked on by Rodriguez, with Lambert rising at the far post to powerfully head home. Fulham had Stekelenburg to thank for stopping Southampton doubling their advantage just two minutes later. Epitomising the confidence coursing through the hosts’ veins, Rodriguez surged forward, put the ball through Senderos’ legs, only to see his strike tipped around the post by the Holland international. Rodriguez nodded wide as Martin Jol’s side continued to struggle, with Lambert hitting the post with a right-footed drive as Saints continued in the ascendancy. Stekelenburg was soon back in action when Ward-Prowse sent a deep cross to the back post, where Lambert drifted in unmarked to force the Whites goalkeeper into a fine save, with Sascha Riether deflecting Luke Shaw’s follow-up into the side-netting. Saints would not be denied for long, though. Another deep cross, this time from Lallana, found Lambert, whose looping header back across the goal was nodded home by Rodriguez. It was one of 14 shots Southampton managed in a dominant first half, with play continuing in the same direction after the restart for which Aaron Hughes replaced Riether. Wanyama headed wide and Dejan Lovren poked just off-target from a corner as Saints searched for a third. Rodriguez came close to getting it in the most stunning fashion in the 69th minute, meeting a Ward-Prowse cross with an exquisite scissor-kick that whistled just wide. Steve Sidwell attempted his own acrobatic effort as the clock wound down and, although it was wayward, it was their first and only shot of the match. Press Associationlast_img read more

Cathro set for Toon assistant role

first_imgIan Cathro is set to be appointed as Newcastle head coach Steve McClaren’s assistant. Press Association Sport understands the 28-year-old Scot, who left a similar post at Valencia at the end of last season, has accepted the Magpies’ offer to join McClaren’s staff after a lengthy search. Cathro, who started coaching in his teens after injury ended his fledgling playing career, has emerged as a target in recent days and while the club is yet to confirm his appointment, it is understood a deal is now in place. McClaren turned to the former Dundee United coach after struggling in his efforts to bring in a successful former player in the early years of a new phase of his career, with Phil Neville and Bolo Zenden among the men sounded out about the vacancy. The former England manager’s need is pressing with the start of pre-season a little more than a week away and his staff team still to be assembled in the wake of the departures of John Carver and Steve Stone. Fitness guru Steve Black has also been linked with a role at St James’ Park as the club prepares to embark upon a new era after a dreadful 2014-15 campaign. Confirmation of Cathro’s appointment will provide a boost for both McClaren and managing director Lee Charnley with the latter desperately trying to land the players identified as targets for a major summer recruitment drive at the same time as securing additions to the coaching team. The Tyneside-bound coach, who was linked with the manager’s job at Rangers earlier this year, enjoys a blossoming reputation within the game, and his comments in a recent interview may strike a chord with fans left disgruntled by last season’s struggles. Cathro told BBC Sport in March: “You project forward to the types of job you want to do. I want to fill a stadium and make people excited about coming, feeling that as an enjoyable thing to watch and embrace, whilst being able to do something of significance at a club that leaves a structure and a system so that it continues to profit from beyond my period of time. “That’s the types of jobs that are more appealing and more natural to me. You’re paid a lot of money, football gives you a lot of good things, and it’s the club’s position in society that gives you that. It’s important that the club gets its value from you.” center_img Press Associationlast_img read more

German Bundesliga willing to help revive football in Delhi

first_imgNEW DELHI: Football Delhi sendeavour to bring back the golden days of the game in the national capital got a boost when a top official from the German Bundesliga extended a helping hand to the officials who run the game here.Speaking recently at an e-summit organised by Football Delhi, Peer Naubert, the head of global marketing for Bundesliga international, said: “We can extend our expertise and support to football in the capital city to assist the development of football. By engaging with the local football fans, we will have the opportunity to increase the fan following of Bundesliga in Delhi. “Clubs must have some social responsibilities to connect with the society. Top tier football must be connected with local football.” The state association has been trying to engage at every level of the football pyramid and its activities have increased 10-fold in the last 30 months. Bundesliga’s promise, which comes at the back of the Union Sports Minister Kiren Rijiju’s pan-India scheme to scout talent, thus comes at an appropriate time. Shaji Prabhakaran, President of Football Delhi, said: “It is vital to have a collaborative approach not only at the local level but at the national and global levels. This approach would bring the best out of our local clubs and then Delhi would lead by example.” Delhi once hosted two of India’s most prestigious football tournaments – the Durand Cup and the DCM Trophy. Top corporates speaking at the e-summit wanted a “good product” that would attract sponsors and the media. Siddhant Narayan, head of marketing, OnePlus, said: “If you have a good mix of players then it would be better to bring the corporates for investment.” (IANS) Also Watch: #NewsMakers: Bharat Bhushan Dev Choudhury, Sec. General Administration, Gov. of Assam, Dispurlast_img read more

Australia hire Wood as hitting coach for Champions Trophy

first_img(REUTERS) – Former Hampshire batsman and power-hitting coach Julian Wood has been hired by Cricket Australia (CA) to help with preparations for the Champions Trophy being played in England and Wales in June, the Times has reported.Wood, 48, will attend a 10-day camp in Brisbane in May and also work with Australia women’s squad before they travel to Britain for the World Cup.Cricket Australia had previously recruited coaches to help players adapt to conditions overseas, including former England left-arm spinner Monty Panesar, who coached bowlers ahead of this year’s India tour.Wood, who is a freelance coach, has previously worked with several county sides and the England squad.last_img

Nadal sets up quarter-final with Clic

first_imgNUMBER one seed Rafael Nadal progressed to the quarter-finals of the Australian Open by seeing off Argentina’s Diego Schwartzman in four sets.Nadal, 31, won 6-3 6-7 (4-7) 6-3 6-3 on Rod Laver Arena to set up a last-eight meeting with Croatia’s Marin Cilic.Schwartzman, the 24th seed, proved Nadal’s trickiest opponent so far, taking a first set of the tournament off the 16-time Grand Slam champion.But Nadal powered through the final two sets to win in three hours, 51 minutes.“It was a great battle. He is a good friend of mine,” said Nadal“He is a great player, in all aspects, and I feel that for a lot of moments he was serving well.“I was able to keep fighting until the end and it is the first big match I have played in 2018. It probably helps my confidence, knowing I can resist almost four hours on court.”Sixth seed Cilic earned his place in the quarter-finals with a 6-7 (7-2) 6-3 7-6 (7-0) 7-6 (7-3) victory over Spain’s 10th seed Pablo Carreno Busta.(BBC Sport)last_img read more

The Latest: Man United expects to miss out on $24 million

first_imgThe governing body of swimming has postponed the short course world championships for a year because of the coronavirus pandemic.FINA says the championships scheduled for December in Abu Dhabi will now be staged Dec. 13-18, 2021, in the United Arab Emirates because of the “the uncertainty related with the evolution of the COVID-19 pandemic worldwide.”FINA president Julio C. Maglione says swimming organizers have worked closely with the United Arab Emirates’ authorities and “we believe this is the most suitable solution for all those taking part in this competition.”A general congress to elect the FINA Bureau for the years 2021-25 will be staged in Doha, Qatar, on June 5, 2021. The new members of the bureau will start their terms immediately after the Tokyo Olympics in 2021.The short course world championships are held in a 25-meter pool. The FINA world championships and the Olympics are staged in 50-meter pools. The league is in talks with its rights holders about rebates because of delays and changes to the broadcasting schedule. The season was suspended in March.Empty stadiums will also change the TV product.The rebates will vary based on the final position in the standings and the number of games aired live. United is in fifth place with nine games remaining.The Premier League hasn’t provided details of the broadcasting rebate.___ Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Manchester United says it believes it will miss out on $24 million because the Premier League will have to make refunds to broadcasters even if the pandemic-disrupted season is completed. ___More AP sports: and,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 The Latest: Man United expects to miss out on $24 million Associated Press May 21, 2020last_img read more

Edo-Osagie Emerges 2017 DOAMF Charity Golf Champion

first_img“It is a great honour to win the event, as one of the most coveted titles at the Club, I am definitely glad to have achieved this. I give kudos to the team at DOAM Foundation for the quality of organisation and impact they are making with donations from this event.”In the ladies’ category, Funke Majekodunmi emerged the overall winner with a 68 nett score to beat Lynda Obieze, the runner–up, by four strokes. Meenakshi Kumar finished as the second runner-up. Majekodunmi, in addition to the ladies’ champion trophy, was rewarded with an Air France return ticket to any international destination of her choice flown by the airline.The event, which teed-off at 6:40 am on Saturday, February 4, 2017, featured a record 192 players in a strong show of support for the tournament.Other winners at the event included, Tim Ayomike who shot 78 to pick the best gross prize, beating Lanre Tanimowo and Uwem Udoh who finished in second and third places respectively. Sunday Areola scored 69 nett to win the veteran category and to beat Sebastian Owuama, who was the runner-up in that category. Ayomike was also, rewarded with a KLM return ticket to any international destination of his choice flown by the airline.Candy Agu and Taddy Dance were the ladies’ best gross players at the event, with Agu’s 89 gross score winning ahead of Dance’s 91. All winners went home with an array of prizes in addition to the high quality trophies.Coordinator, Organising Committee of DOAMF Charity Golf, Pat Bassey, said the event has grown to become the biggest show of support for the less privileged by the Nigerian golfing community.“The DOAM Foundation extended its reach in touching lives in 2016 through awards of scholarship, building of sickbays and partnering other health institutions in remote locations across the country.Proceeds from this year’s event will further empower the Foundation in its mission of touching lives. It was particularly touching for all present at the cocktail event to see two beneficiaries of the Foundation’s scholarship scheme, Miss Joy Adindu – BSc (First Class Honours) in Applied Microbiology/Brewing – and Mr Chigaemezu Edoziem – BSc Honours in Statistics, who came to show their appreciation to the Nigerian golfing community” he said.This year’s event was generously supported by PricewaterhouseCoopers, Diamond Bank Plc, ARM Pension Managers, Radial Circle Group, Zenith Bank, Air France-KLM, ExxonMobil Producing, Arik Air, SEPLAT Petroleum, Channels Television, Silverbird Television, Grand OAK, Cappa & D’Alberto, SPAR (Park N’ Shop), Southern Sun, Debonair Group, Mixta Africa, Heritage Bank, Four Points by Sheraton, Seven Up Bottling, Victoria Crown Plaza, Ikoyi Club 1938, and many more.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Iwinosa Edo-Osagie emerged the overall winner of the 2017 Daniel Ogechi Memorial Foundation Golf Tournament concluded last weekend at the Golf Section of Ikoyi Club 1938 in Lagos.Edo-Osagie, an 18-handicapper, returned a 69 nett score at the one-day tournament to beat the rest of the field on a day of scintillating golfing experience. Tokunboh Adebesin finished two strokes behind him to pick the runner-up spot. Kunle Ball, who also finished two strokes behind, was the second runner-up on count-back.Edo-Osage, with his win, carted away not only the much coveted winner’s trophy but also, an ArikAir business class return ticket to any international destination of his choice flown by the airline.last_img read more