Akzo Nobel denies blurring e260m pensions deficit

clock •

NETHERLANDS - Pharmaceuticals and chemicals giant Akzo Nobel has fervently denied allegations from a Dutch shareholder activist group that it masked a e260m pension fund deficit in its 2002 financial accounts.

Arnhem-based Akzo has now been issued with a high court summons by SOBI (Stichting Onderzoek Bedrijfs Informatie) over the alleged deficit. In a statement Akzo said: “Akzo Nobel’s financial st...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Netherlands

Netherlands

Falling coverage ratios will hamper Dutch pension funds' buy-out efforts, warns ABN Amro

NETHERLANDS - ABN Amro predicts half of Dutch company pension funds will shift assets to insured schemes.

Thomas Whittaker at Risk.net
clock 01 November 2011 •
Netherlands

Falling interest rates pummel funding ratios at PFZW, ABP

NETHERLANDS - Dropping interest rates knocked the coverage ratio for Pensioenfonds Zorg & Welzijn (PFZW) down to 91% and Stichting Pensioenfonds ABP's down to 90%.

Raquel Pichardo-Allison
clock 20 October 2011 •
Netherlands

State Street wins Dutch pension custody mandate

NETHERLANDS - Dutch pension fund Stichting Pensioenfonds SABIC Innovative Plastics has appointed State Street Corporation to provide custody and other services for its €700m ($970m) in assets.

Jaishree Kalia
clock 19 October 2011 •
Trustpilot