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👋 G’day

Today’s brief:

  • Partner calls out AI-inflated CVs

  • Christian Porter guns for silk

  • Harvey, Legora eye IPOs

Here’s your latest, PB #{{join_number}} 👇

WORD ON THE STREET

CV inflation

CV resumes

A White & Case M&A partner has called out students using AI to beef up their CVs after a few weeks on vac schemes. To make his point, he invented Paul, 21, whose AI-polished CV has him running £102bn of deals in a single July. Mason reckons students are better off owning the grunt work instead: Point Blank

  • Former AG Christian Porter is gunning for silk, and it’s Perth’s worst-kept secret. The barrister, billing at least $7k a day, has some senior judges in his corner. But others think the historical rape allegation he’s always denied should rule him out: AFR

  • Legal AI might be going public. Harvey has held early IPO talks with Latham & Watkins. The US$15.5bn legal AI giant isn’t rushing though, waiting to see how Anthropic’s float lands first. Rival Legora is reportedly sounding out Wall Street too: Point Blank

PRACTICE POINTS

Redactions rejected

⚖️ Disputes: Parties can’t unilaterally redact “irrelevant” parts of disclosed documents, even ones from a confidential arbitration. NRT hired MGN to upgrade a facility, and MGN hired ACG to design the works. When things went wrong, NRT sued both, while MGN and ACG fought a separate arbitration. In NRT v MGN, the Queensland Supreme Court ordered the pair to hand over their arbitration witness statements and expert reports to NRT unredacted. McCafferty J held that if any part of a document is relevant, the whole document must be disclosed, and arbitral confidentiality alone didn’t justify blacking out the rest: Queensland Supreme Court

⚖️ IP/AI: A US court has delivered the first appeal ruling on whether training AI on copyrighted material is fair use. ROSS Intelligence copied Westlaw headnotes to train a competing legal research tool. The court held the headnotes were protected by copyright because editors chose which legal points to include and how to phrase them. ROSS’s use wasn’t fair because it was commercial, served the same purpose as Westlaw, copied the headnotes in full and cost Thomson Reuters the chance to license them as training data. Australia’s copyright exceptions are even narrower than US fair use. The Albo Government has also ruled out a new exception for AI training, so local players face even tighter limits: HWLE

⚖️ Corporate: Foreign companies listed on ASX will soon face the same substantial holding rules as Australian ones. From 4 December 2026, the Corporations Act’s substantial holding and tracing notice rules will cover foreign listed entities. Since 2013, ASX’s Listing Rules have filled that gap by making foreign entities pass on holding information received under overseas law. With the law now covering it, ASX proposes to delete Listing Rule 3.17.3 and narrow LR 3.17.4 to avoid duplication. It will also stop requiring substantial holding undertakings from foreign entities on admission: ASX

TOGETHER WITH RECREVI

Recrevi

We are a specialist legal recruitment agency with a reputation for excellence. We focus on Big Law recruitment across Australia and key international legal markets, including the US, UK, Asia, UAE and Cayman Islands. ‘Recrevi’ means to grow again. To find the next growth point in your career or business with the right people, advice and support to get you there.  

Recrevi Group was born with a clear purpose – to be a distinctive space for legal professionals exploring new paths and organisations seeking exceptional talent. We believe in more than just matching skills; our intention is to nurture personal and professional growth moves.  

TALKING POINTS

Brand sentenced

Brand

Did you hear…

Russell Brand has been jailed for 10.5 years for rape and three counts of sexual assault against four women between 2004 and 2009. His barrister, Ian Winter KC, argued the rape was a “momentary” failure to respect consent. Judge Joel Bennathan called Brand a “sexual predator” but still gave a small discount for his recent good character: ABC

Also…

Google may block under-18s from Gmail and Google Drive. It says Labor’s proposed digital duty of care laws could also force it to age-verify users and scan private files. Services must block under-18s where there’s a “reasonably foreseeable risk” of porn exposure. Google says this lacks nuance for private communications: AFR

DEAL ROOM

Fiercer fights

📈 Ashurst Perkins Coie says 2027 will bring fewer but fiercer bidding wars, with public M&A hosting some of the toughest contests for control. Completed deal value fell 61% to $25.7bn in H1 2026, yet PE and foreign bidders featured in 32% of announced public deals. US buyers still dominate: Ashurst Perkins Coie, AFR

🤨 After Goodman and Digital Realty grabbed a 9.9% stake in NextDC, the data centre operator says it’s had no takeover proposal and no formal word from either. The pair had flagged they “look forward to potential collaboration” on the company’s challenges: Capital Brief

🎟️ Silver Lake has tapped MA Moelis to test buyer appetite for Ticketek owner TEG, with an asking price around $1.5bn, half the $3bn it chased two years ago. CTS Eventim and AXS are among those being courted: The Australian

SECTOR SNAPSHOT

FBI probes Nvidia

FBI Nvidia

01 — 🚜 RESOURCES

Labor is preparing to soften its gas reservation scheme after industry backlash. The issue is a rule requiring LNG exporters to make 110% of forecast domestic demand available to local buyers or face penalties. Producers say buyers could hold off until prices drop, deterring new investment: The Australian

02 — 🏦 FINANCE

ANZ CEO Nuno Matos says the bank will outperform its rivals by early 2028, despite shares falling 3.2% on a disappointing full-year result. Cash profit rose 10% to $7.59bn, but revenue in New Zealand and institutional banking went backwards. With costs cut 7%, the next test is revenue growth: AFR

03 — 🏠 RETAIL & PROPERTY

Stockland and AirTrunk have scrapped two Sydney data centres amid community backlash. Stockland dropped a data centre from its $3.5bn Kogarah logistics precinct, while AirTrunk binned a 140MW Lane Cove West expansion, citing steep terrain. It follows Goodman’s $1.2bn retreat in September: The Australian

04 — 📱 TECH & STARTUPS

Trump says the FBI is looking into Nvidia CEO Jensen Huang’s affair with an alleged Chinese spy, an executive at an Nvidia customer. Shares slid 4.3%, wiping nearly US$200bn. Nvidia’s board has formed an independent committee to investigate, while shareholders have filed a class action alleging Huang’s ties were concealed: AFR

Until next time,
- Team PB

P.S.

MEME

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