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👋 G’day
Welcome back to another day of insights
Today’s brief:
DLA fights mat leave firing claim
Chinese hacking group targets law firms
Qld lawyers must now personally verify citations
Here’s your latest 👇
WORD ON THE STREET
BigLaw’s oldest survivors

The Global 200 isn’t just about revenue — some firms have been around longer than modern nation states. The oldest firm in the Global 200 is Freshfields, founded in 1743 when Ben Franklin was still experimenting with electricity and almost all countries were monarchies. Osborne Clarke followed in 1748, and DLA Piper’s roots stretch back to 1764. Even Allens has clocked 200 years. Two centuries on, these firms are still competing at the top: Law.com
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DLA Piper has poached Noni Shannon, ex-Deloitte Legal environment and planning partner, to boost its energy transition practice. Shannon joins Sydney’s finance team with a brief in renewables, carbon markets and climate law: Law.com
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Speaking of DLA, there US arm has bigger problems. A Manhattan judge has ruled DLA Piper must face claims it fired an SA after she sought maternity leave. The firm blamed performance issues, but the court pointed out she’d earned raises, bonuses and key client work that told a different story. The pregnancy discrimination case is now heading to trial: Reuters
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US law firms are being targeted by hackers dubbed UNC5221, who use a backdoor called BRICKSTORM to stay hidden for an average of 393 days. Mandiant says the group, suspected of ties to China, is after trade and national security intel, with law firms prized for work in M&A, patents and disputes: Law.com
PRACTICE POINTS
Defamation defence myths
Think adding “alleged” protects you from defamation? Apparently, not. Courts look at the overall impression on the ordinary reader, not whether you slipped in a cautious qualifier. If a post or headline still implies guilt or misconduct, liability can stick. Cases like Bazzi v Dutton and Bailey v WIN TV confirm that simply repeating an allegation can amount to endorsing it, even with qualifiers. Statutory defences like truth, honest opinion, and qualified privilege have strict thresholds and can’t be satisfied by a single word. The principle is old but alive: if you talk about smoke, people may assume there’s fire. StoneGate Legal gives a comprehensive breakdown of defamation defence myths: Mondaq
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Allan Gray and Ownership Matters want tighter rules to stop boards from issuing big chunks of equity without a vote, after James Hardie’s $US1.9bn AZEK scrip deal went through on an ASX waiver. They’re backing constitutional amendments that would cap non-pro rata share issues at 25% a year, forcing more shareholder sign-off. But KWM says the activist push is heavy-handed. Directors already face strict statutory and fiduciary duties, and shareholders enjoy strong rights — from director spill powers to the two-strikes rule. Adding more red tape may stifle M&A and fundraising, weaken bidders in contested deals, and even push companies into riskier debt. Handcuffing boards might just do more harm than good: KWM
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The Qld Supreme Court has issued a new practice direction on AI use in litigation, warning that unchecked reliance on ChatGPT-style tools risks fake cases, bogus statutes and wasted costs. From now on, every written submission must name the responsible lawyer, who confirms they’ve verified all authorities and that the document reflects their professional judgment. The Court made clear that if non-existent cases or legislation are cited, lawyers could be personally hit with costs and referred to the Legal Services Commissioner. Best get the red pen out.
TALKING POINTS
Housing squeeze

National home values rose 0.8% in September and are tipped to climb further as the expanded Home Guarantee Scheme kicks in. From Oct 1, higher-earning buyers can borrow with just a 5% deposit, skipping LMI. Experts warn this will push prices higher, with some buyers already stretching budgets: ABC
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Aussie artists say they could vanish within a decade if tech firms get free access to their work for AI training. The Productivity Commission floated a copyright exemption for training AI models, but admitted it skipped industry consultation. Senators Sarah Hanson-Young and Sarah Henderson blasted the Commission for disregarding a $67.4bn arts sector: AFR
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Sorry partners, corporates are scrapping NYC travel with hotel prices surging. New York is now the priciest city in the world for corporate travel at $728 a night, while Sydney tops Australia at $262. Flight Centre data shows US bookings fell 11% from April–June, with firms citing high costs and stricter visa rules. Globally, the average cost of a work trip is $2,439, but Asia is far cheaper at $1,481, helping the region’s business travel boom: The Australian
DEAL ROOM
ACCC floodgates
ACCC: is being flooded with exemption requests as companies rush to dodge the new merger regime kicking in Jan 1. Lawyers are churning out s 189 letters to lock deals under the old, cheaper rules. Allens’ Jacqueline Downes warns simple, low-risk deals could get caught in the net. With fees up to $1.5m, bidders are scrambling to beat the clock: Capital Brief
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Southern Cross: has flipped from target to buyer, moving on Seven West after Nine walked away from its own takeover talks. The scrip deal values Seven West at $215m. Southern Cross holds a “fiduciary out”, letting it dump the merger if Nine swoops back: The Australian
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Restaurant Brands: has drawn a full takeover tilt from Mexico’s Finaccess Capital, which already owns 75% of the NZ owner of KFC and Pizza Hut. The bid sent the stock soaring by 60%, while Collins Foods – Australia’s biggest KFC operator – also lifted. If successful, Collins will be the last ASX-listed KFC play left standing: Capital Brief
SECTOR SPECIFIC
China bans BHP ore

🚜 DIGGERS
China has reportedly told steelmakers to stop buying BHP iron ore, escalating a trade row aimed at forcing price cuts. The ban, led by state-run CMRG, extends to all BHP iron ore products. But Chinese firm Mysteel disputed the claim, saying mills hadn’t been told to halt orders: The Australian, AFR
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US coal miners just scored a $US625m boost as Trump’s Energy Dept pours funds into “beautiful clean coal.” The cash covers everything from restarting old plants to wastewater upgrades and gas co-firing systems. The Interior Dept also slashed royalty rates and opened 13.1 million acres for coal leasing: Mining News
🏦 FIN
Macquarie’s mortgage book has cracked $150bn, surging 22% in a year as brokers reward its slick tech with more business. Now holding 6.4% market share, it’s eating into ANZ’s 13.5%, which has slid for 3 straight months. With Westpac also bleeding share, even CBA’s Matt Comyn calls Macquarie a “formidable competitor” in the mortgage wars: AFR
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Deutsche Bank settled its first live payment on the blockchain network built for real-time clearing. Acting as settlement bank, Deutsche pushed the payment to DBS, a founding shareholder. The system connects blockchain and traditional rails, with Deutsche saying it sees a future where Swift, stablecoins and blockchain all run side by side: Finextra
🏠 RETAIL & REAL ESTATE
Aware Super has snapped up 49% of Goodman’s $2bn LA logistics portfolio, gaining exposure to 258k sqm of space leased to the likes of Amazon, Maersk and Relativity Space. With $200bn under management, Aware is pushing offshore, targeting industrial hubs as the backbone of its growing global property play: AFR
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Bedarra Island Resort, Australia’s only freehold island resort, is up for sale with an adjoining 35ha “Hideaway” parcel. The luxury lodge spans 45ha, boasts 12 villas and dual beaches, and is considered one of the country’s most profitable island resorts. CBRE is running the sale. Maybe if we all pool our funds? The Hotel Conversation
📱 TECH & STARTUPS
Google will pay US$24.5m to settle Donald Trump’s lawsuit over his YouTube ban after Jan 6. Get this - most of it (US$22m) is funding the new White House ballroom, a project that’s apparently near and dear to Trump. It’s the latest in a string of payouts to Trump from Big Tech: Bloomberg
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OpenAI has signed up to the Tech Council of Australia, as chair Scott Farquhar pushes to make Australia a data centre hub for SE Asia. The $750bn startup is expanding locally after opening a Sydney outpost and meeting Treasurer Jim Chalmers on “strategic investments”: Capital Brief
JOB OPPORTUNITIES
P.S.

Till next time,
-Team PB