Similar(58)
Failing to act when the beneficiaries' interest require it so as to enhance the trustees' business prospects is clear violation of law.
But, most importantly, the beneficiaries' interests need to be considered.
The losses in the financial sector, usually a beneficiary of interest rate cuts, partly reflected concerns about debt loads, a global economic slowdown and the banking crisis in Japan.
"The trust also needs the mechanism to buy a beneficiary's interest out, if everyone has a different position in life and there's a disparity in income," he said.
In every case charging breach of Erisa fiduciary duty, then, the threshold question is not whether the actions of some person employed to provide services under a plan adversely affected a plan beneficiary's interest, but whether that person was acting as a fiduciary (that is, was performing a fiduciary function) when taking the action subject to complaint.
They are supposed to act in the beneficiaries' best interest, which means they would surely consider a good offer, were it to come along, for all or part of Viacom.If cable and satellite operators continue to consolidate in the face of new competition from online video, the owners of television networks may also have to do so, to ensure they have enough muscle in contract negotiations.
"Although we are not presented with the issue here," Justice Souter said, "it could be argued that Carle is a fiduciary insofar as it has discretionary authority to administer the plan, and so it is obligated to disclose characteristics of the plan and of those who provide services to the plan, if that information affects beneficiaries' material interests".
But Mr. Segundo had already been the beneficiary of renewed interest in Cuban music.
The great beneficiary of the interest taken in avant-garde three-dimensional art from the two decades after the end of World War II was Alexander Calder.
He said that the funds were readily available to the beneficiary and that interest rates were on par with similar banking setups.
Fannie Mae has burst into the top 30, an obvious beneficiary of low interest rates and the refinancing boom in home mortgages.
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