A tell-all book about the Trump family written by US President Donald Trump’s niece was temporarily blocked from publication by a New York judge, weeks before it was scheduled for release.
New York Justice Hal Greenwald on Tuesday issued a temporary restraining order, in effect until July 10, against Mary Trump and her publisher, Simon & Schuster.
The restraining order bars Ms Trump and the publisher from distributing any version of the book or any portion of it “in any medium containing descriptions or accounts” of her relationship with the president or his brother.
Ms Trump was ordered to explain by July 10 why the judge should not issue a longer-lasting injunction against the book, sought by the president’s brother, Robert Trump, who filed the lawsuit.
Mr Greenwald held a hearing on the matter by Skype on Monday, the ruling said.
Charles Harder, one of the president’s lawyers, who is representing Robert Trump in the case, said he was pleased with the decision and called Ms Trump’s attempt to publish the book “reprehensible".
“We look forward to vigorously litigating this case and will seek the maximum remedies available by law for the enormous damages caused by Mary Trump’s breach of contract and Simon & Schuster’s intentional interference with that contract,” Mr Harder said.
“Short of corrective action to immediately cease their egregious conduct, we will pursue this case to the very end.”
Mr Harder is arguing the publication of the book breaches a 20-year-old secrecy agreement between members of the Trump family.
But Ms Trump's lawyer, Theodore Boutrous, said: “The 20-year-old agreement now invoked by the president’s legal team is invalid and unenforceable for many reasons.
"The notion that seven members of the Trump family each mutually agreed to be gagged forever from speaking out about their ‘family relationships’ is absurd."
Simon & Schuster said it was “disappointed” by the order.
“We plan to immediately appeal this decision to the Appellate Division, and look forward to prevailing in this case based on well-established precedents regarding prior restraint,” it said.
The book, Too Much and Never Enough: How my Family Created the World's Most Dangerous Man, which is due to be published on July 28, will include purported psychological observations about the author's "toxic" family, the lawsuit said.
It's also expected to reveal her role as a primary source for the investigation by The New York Times into the president's taxes, and to detail her claim that the family's mistreatment of her father, Fred Trump Jr, contributed to his early death.
"President Trump and his siblings are seeking to suppress a book that will discuss matters of utmost public importance," Mr Boutrous said.
"They are pursuing this unlawful prior restraint because they do not want the American people to know the truth."
The ruling comes shortly after the publication of a memoir by former national security adviser John Bolton, portions of which were widely released even after the Justice Department was fighting its publication in court.
Sri Lanka squad for tri-nation series
Angelo Mathews (c), Upul Tharanga, Danushka Gunathilaka, Kusal Mendis, Dinesh Chandimal, Kusal Janith Perera, Thisara Perera, Asela Gunaratne, Niroshan Dickwella, Suranga Lakmal, Nuwan Pradeep, Dushmantha Chameera, Shehan Madushanka, Akila Dananjaya, Lakshan Sandakan and Wanidu Hasaranga
TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
UAE currency: the story behind the money in your pockets
'Midnights'
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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.”
THE SPECS
Cadillac XT6 2020 Premium Luxury
Engine: 3.6L V-6
Transmission: nine-speed automatic
Power: 310hp
Torque: 367Nm
Price: Dh280,000
