The billable hour lives to fight another day. According to a Best Lawyers’ report, 72% of Aussie law firms say AI hasn't touched their billing practices, despite the efficiency gains being very real. Only 15% report reduced hours for certain tasks. It’s the same story we heard about months ago — an Axiom survey found just 6% of firms charge less for AI-assisted work while 34% are charging more: Point Blank

⚖️ Disputes: A Queensland Supreme Court decision is a timely reminder to identify all causes of action early, or risk being locked out. In Tycho v Trustworthy Nominees, Freeburn J refused leave to amend a third party claim to add a new ACL s 61 fitness for purpose cause of action eight years into proceedings, after the limitation period had expired. The proposed amendment was strategically motivated (s 61 claims aren't apportionable, meaning higher potential recovery), but there was no good explanation for the delay. Being legally represented throughout, with the apportionment issue live since 2018, counted heavily against Trustworthy: Lander & Rogers

⚖️ AI: "My robot did it" won't fly as a defence, and Australian in-house counsel and boards should take note. With the Government's National AI Plan confirming there'll be no Australian equivalent of the EU AI Act, existing frameworks, including the Corporations Act, Privacy Act, Australian Consumer Law and common law, will be stretched to cover AI disputes. Six frontlines to watch: directors' and officers' duties, AFSL obligations, AI washing, algorithmic misconduct, confidentiality and privacy risks, and AI in the courtroom. ASIC, ACCC and OAIC are all circling, governance frameworks must keep pace with deployment: Gilbert + Tobin

⚖️ Regulatory: Two NSW directors have been convicted and fined $10k each for failing to hold director identification numbers — a strict liability offence under s 1272C(1) of the Corporations Act. Adam Rana, director of four construction companies, and Joseph Tarzia, director of 27 companies, were both convicted ex-parte in the Downing Centre Local Court. Intent is irrelevant; if you don't have one, you're liable. ASIC has now prosecuted 11 directors for director ID failures, recovering over $40k in fines in total. The maximum penalty is $19,800: ASIC

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Federal Court Justice Needham suppressed an accused tax evader's name and his cleaning company until 2031, so his construction clients don't find out and walk. The owner argued publication would "likely" kill his contracts and cause reputational harm to employees and clients. MinterEllison's former media law head Peter Bartlett calls it a worrying precedent, warning commercial harm to third parties doesn't justify ditching open justice: AFR

Australians pay $422 for a passport, roughly twice what Canadians, Brits and Kiwis fork out, and Senator David Pocock reckons Labor is straight-up profiteering. Foreign Minister Penny Wong basically confirmed it during Senate estimates, asking critics where the replacement revenue would come from. The government's pulling in $789m this year, headed past $1bn: Capital Brief

🚀 SpaceX is smashing IPO records, with investor demand reportedly hitting $250bn+ against a $75bn target, putting it 3.5-4x oversubscribed ahead of Thursday's pricing: Reuters

🛣️ IFM Investors' $7bn tilt at toll road operator Atlas Arteria is running out of steam, with the asset manager converting less than 0.1% of shareholders since its $4.75-per-share offer opened on 11 May: Capital Brief

🚢 Macquarie Asset Management's $11.7bn buyout of logistics group Qube is progressing, with PNG competition approval secured and third-party consents sorted. ACCC, FIRB and New Zealand's OIO sign-offs are still outstanding: Capital Brief