Jury gives sweeping win to Kardashians in Blac Chyna lawsuit


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A jury on Monday gave a sweeping win to the Kardashian family in former reality TV star Blac Chyna’s lawsuit against them.

The Los Angeles jury found that none of the members defamed Chyna, nor did any interfere with her contract by convincing the E! network to cancel her reality show Rob & Chyna.

The four Kardashian defendants — Kim Kardashian, Kris Jenner, Khloe Kardashian and Kylie Jenner — attended nearly the entire trial, but when the verdict was read all were in New York at the Met Gala, where this year’s theme was Gilded Glamour.

Chyna, who had sought as much as $108m in the five-year-old lawsuit, was in court for the verdict. She had no visible reaction.

After about 10 hours of deliberations, the jurors decided on the long jury form that the Kardashians often acted in bad faith, finding that they were not justified in telling the executives and producers of Rob & Chyna that Chyna abused their son and brother Rob Kardashian. But they found that it had no substantial effect on Chyna’s contract or the fate of the show, and she was awarded no damages.

Executives from the E! network, which aired the show, testified that Rob & Chyna ended because the relationship broke up, not because of the defendants’ actions.

Rob Kardashian, 35, the youngest of Kris Jenner's four children with the late Robert Kardashian, has kept a much lower public profile than his mother and sisters. He was mostly an off-screen character, and only occasionally appeared on the family's reality show, Keeping Up with the Kardashians.

He broke from the pattern in 2016, spending a year in the limelight before it declined.

He and Chyna began dating in January; announced their engagement in April; said they were having a child together in May; had their own reality show premiere in September; and had a daughter, Dream, in November.

Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company

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Chelsea: Alonso (45' 3), Batshuayi (85')

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Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

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In Dubai:

Dh200 for littering or spitting in the Dubai Metro

Dh500 for throwing cigarette butts or chewing gum on the floor, or littering from a vehicle. 
Dh1,000 for littering on a beach, spitting in public places, throwing a cigarette butt from a vehicle

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Dh500 for littering - including cigarette butts and chewing gum - in public places and beaches in Sharjah
Dh2,000 for littering in Sharjah deserts
Dh500 for littering from a vehicle in Ras Al Khaimah
Dh1,000 for littering from a car in Abu Dhabi
Dh1,000 to Dh100,000 for dumping waste in residential or public areas in Al Ain
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Irish Open Missed the cut (72)

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Updated: May 03, 2022, 10:48 AM