👋 G’day

Today’s brief:

  • Outfit matters as much as your advice

  • ChatGPT linked to Florida uni shooting

  • High Court contemplates livestreaming

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

WORD ON THE STREET

Dress code comeback

The traditional suit and tie is so back. Over half of law firm clients still expect formal attire, per new research, suggesting the post-pandemic casual drift has its limits. The same clients want direct contact details (88%), same-day responses (83%) and weekly updates (85%), with two-thirds expecting 24/7 access. Turns out your outfit, availability, and lightning-fast replies matter as much as the legal advice: Legal Cheek

  • Chief Justice Gageler told judges in Tokyo the High Court is now "contemplating" livestreaming, after calling it pointless just months ago. A June ceremonial sitting is the trial run. Cases like the social media ban challenge would make compelling viewing, which is slated for later this year: Capital Brief

  • US firm Sullivan & Cromwell, whose partners bill north of US$2k an hour, apologised to a federal bankruptcy judge after a major filing contained AI hallucinations. That included a misquoted bankruptcy code and fabricated case citations. S&C admitted its own AI policies weren't followed. The errors were spotted by opposing counsel: FT

  • Sam Hay KC, former chair of the Victorian Legal Services Board and past president of the Victorian Bar Council, has been appointed to the Supreme Court of Victoria. He'll sit predominantly in the common law division, bringing over 20 years of commercial, corporate and common law experience: Lawyers Weekly

PRACTICE POINTS

ACCC crashes Apple

⚖️ Competition: The ACCC has been granted leave to intervene in Epic Games v Apple just as the relief hearing resumes, after the Federal Court found last year that Apple misused its market power by blocking alternative app distribution and in-app payment methods on its devices. The ACCC won't relitigate liability — it's there to put submissions on the public interest in competitive digital markets and the broader remedial implications of whatever orders the Court ultimately makes. With Google having already settled globally, all eyes are now on what relief gets ordered against Apple when the hearing resumes on 28 April 2026. Read our deep dive on the decision here: ACCC

⚖️ Privilege: The Full Federal Court has confirmed that routing an external review through lawyers and ticking the right engagement-letter boxes won't save privilege if the organisation is simultaneously telling the world something different. In Medibank Private v McClure, the Court upheld the finding that three Deloitte reports commissioned post-cyber breach weren't privileged, because public ASX announcements, active APRA engagement and board-level governance all pointed to a broader business purpose. External comms cannot contradict your privilege claim. Keep the review structurally separate from regulatory and governance workstreams, and make sure every actor across the organisation is singing from the same sheet: HSF Kramer

⚖️ Insider Trading: A former project manager at Beacon Minerals has pleaded guilty to insider trading after procuring two associates to snap up 11 million shares in January 2017, armed with non-public drilling results from the Jaurdi Gold Project. Alexander McCulloch faces sentencing on 23 September 2026. ASIC has flagged insider trading prosecution as a key enforcement priority for 2026, and this case is a reminder that information barriers can't stop at the executive suite, as operational and technical staff with access to market-sensitive project data need to be inside the framework too: ASIC

TALKING POINTS

AI-linked shooting

Did you hear…

OpenAI is facing its first ever criminal investigation over ChatGPT. Florida's Attorney General James Uthmeier alleges the chatbot advised the Florida State University campus shooter on what gun to use, what ammunition to buy, and where on campus he'd find the most people. "If it was a person on the other end of that screen, we would be charging them with murder," he said. OpenAI says the chatbot only provided factual information available publicly: BBC

Also…

Trump extended the US ceasefire with Iran indefinitely, hours after telling CNBC "the military is raring to go" and didn’t want to extend. The US Hormuz blockade stays in place, which Iran is calling an act of war and a ceasefire violation in itself. Meanwhile, Australia is spending up to $7bn on anti-drone systems after Iran and Ukraine showed just how potent unmanned vehicles have become in modern warfare. It's part of Australia's biggest ever peacetime defence splurge: Capital Brief, Bloomberg

DEAL ROOM

Rio nears $2bn sale

⛏️ Rio Tinto is closing in on a $US2bn ($2.8bn) sale of its borates business to a US buyer. Apollo, Bain Capital, Koch Industries and Orion are among the rumoured contenders. UBS and JPMorgan are advising. Meanwhile, Rio's titanium assets remain frozen, with geopolitical tensions blocking the only likely buyers: Chinese entities: The Australian

💻 MYBOS, the founder-owned building management software platform used by Brookfield, JLL and Frasers, is eyeing an ASX listing in late 2027 or early 2028, contingent on cracking the US market first. Founder Sam Khalef has knocked back PE interest and retained 100% ownership. The business hit $6m ARR in March: AFR

🌍 Intrepid Travel has acquired French adventure tour operator Altai for an undisclosed sum from key shareholder Julien Leclercq's investment company, adding $100m+ revenue and 35,000 customers annually: The Australian

SECTOR SNAPSHOT

Aussie unicorns

DIGGERS

🚜 With Australia down to 31 days of diesel amid the Iran conflict, the Albo government has called in BHP and Rio Tinto to help navigate global fuel markets. BHP has also finalised its iron ore supply deal with China's state-backed buyer CMRG, ending a seven-month standoff that saw product bans across multiple BHP blends. The terms weren't disclosed, but renewed access to Australia's biggest export market: The Australian, Bloomberg

FIN

🏦 Insignia boss Scott Hartley has pushed back on suggestions wealth platforms can't prevent fund fraud, calling a repeat of the Shield and First Guardian scandals "almost impossible" with proper trustee oversight. Plus, Perth-based Azure Capital has poached RBC's top infrastructure debt duo, Philip McLaughlin and Tas Thaniotis, who've advised on $35bn+ in debt deals. Junior staff are expected to follow: The Australian, AFR

RETAIL + REAL ESTATE

🏠 Blackstone is offloading its last Aussie shopping centre, Greensborough Plaza, for $350m+ to Growthpoint Properties. It caps a decade-long retail run that never quite floated. While Dexus has shelved its 39-level, $1.1bn+ office tower at 60 Collins Street, Melbourne, after two surprise rate rises in early 2026 killed the return profile needed to attract third-party capital: The Australian, AFR

TECH + STARTUPS

📱 Australia's punching above its weight in tech, producing 1.22 unicorns per $1bn of VC invested since 2000, beating every other country, including the US. Last year saw $5bn raised, the third-best year on record. The only thing is that two-thirds of deals still need foreign capital, and Sydney now leads global cities outside America for 2026 tech lay-offs: The Economist

JOBS

Lawyer, Melbourne

Litigation

Lawyer / Associate, Brisbane

Corporate & Commercial (Funds)

P.S.

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