👋 G’day
Today’s brief:
Bakers sued over alleged sexual assault
EY partner blasts firm in farewell email
Talent swap by Allens, CU and HSFK
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WORD ON THE STREET

Ex-Bakers lawyer sues

A former Baker McKenzie associate has sued the firm and its Washington DC office head, alleging sexual assault. She claims the firm knew and failed to act. Baker McKenzie and the office head are separately pursuing a defamation case over her LinkedIn posts that claimed cover-ups: Bloomberg Law
An exiting EY partner has gone scorched earth, labelling the firm “autocratic” and obsessed with appearances in a farewell email to staff. Cameron Bird, a decade-long partner, says culture, not filmmaking, drove his exit, reopening wounds just as EY tries to reset after its damning culture review: The Australian
Clayton Utz has poached Allens co-head of ECM Bryn Hardcastle in Perth, with ECM specialist Dave Filov also tipped to follow. Allens has moved fast, lining up HSF Kramer senior partner David Gray to plug the gap. Looks like there’s been a tidy talent swap in WA capital markets: AFR
Corrs Chambers Westgarth has nabbed Baker McKenzie tax partner Janet Cho, best known as David Di Pilla’s go-to structurer on HMC Capital’s biggest deals. The Sydney hire deepens Corrs’ tax bench after a busy run of mega transactions, with stamp duty, GST and REIT structuring squarely in focus: AFR

PRACTICE POINTS

Arb clause undone
⚖️ Disputes: The Federal Court has pulled apart an arbitration clause in AghaeiRad v Plus500. The Court refused a stay to a consumer class action, letting the class action run in court despite a multi-step dispute process requiring arbitration. The case stems from claims of misleading and unconscionable conduct on an online CFD trading platform. While the Court accepted the clause was agreed and the dispute was commercial, it still found the arbitration requirement unfair. The problem was transparency: the clause didn’t clearly spell out that arbitration would block court proceedings and class actions, or that the costs made arbitration unrealistic for small claims: Piper Alderman
⚖️ Employment: Full Federal Court of Australia has confirmed that franchisors can be on the hook for franchisee underpayments and workplace breaches, unless they can rebut a reverse onus, particularly where they had actual or constructive knowledge. Treating the network as arm’s-length won’t cut it. Modern data and reporting systems that track labour costs, hours and performance can establish knowledge and influence, and if red flags aren’t acted on, they can become evidence. The risk spikes when franchisees are in financial distress or insolvency: Colin Biggers & Paisley
⚖️ Merger laws: ACCC has quietly updated its merger reform FAQs, adding practical colour on how notification waivers actually work under the new regime. The guidance drills into which deals are suitable for a waiver, what parties should expect once an application is lodged, and what the ACCC says is working well so far, including clearer deal rationales and tighter submissions. There’s also sharper direction on how to identify and handle confidential information in both notifications and waiver requests: ACCC

TALKING POINTS

Constitutional cracks

Did you hear…
The Law Council of Australia told parliament the hate groups bill was constitutionally shaky from day one, flagging no judicial oversight, curtailed natural justice and retrospective reach. It pushed for court confirmation of bans, warning minister-led proscriptions risk a High Court smackdown. With Hizb ut-Tahrir already teeing up a challenge, that warning looks prescient: The Australian
Also…
Donald Trump has sued JPMorgan Chase and CEO Jamie Dimon for $5bn+, alleging politically motivated “debanking” after January 6. The bank says it exited for regulatory risk, not politics. Expect lawyers to watch this closely, it tees up fights over bank discretion, alleged blacklists, and whether “debanking” becomes the next front in US financial regulation and culture wars: Business Insider

DEAL ROOM

Forrest gold windfall
🏆 Wyloo has more than doubled its stake in Greatland Resources to 18.3%, exercising an option to buy Newmont’s holding at $3 a share. With Greatland trading around $13.35, the move hands Andrew and Nicola Forrest an on-paper ~$680m uplift as gold prices soar: The Australian
⛏️ Tahmoor coal mine is officially up for sale, with administrators launching a fresh process for the mothballed coking coal mine. Distressed debt heavyweight Oaktree is watching closely and has roped in White & Case as interest builds from miners and private credit: AFR

SECTOR SNAPSHOT

Airwallex under scrutiny


DIGGERS
🚜 Northern Star Resources has been hit with an 8% sell-off after its third guidance downgrade in three weeks, driven by a capex blowout at the Kalgoorlie Super Pit mill and higher underground costs. Management insists the $1.5bn mill build will finish by July, but analysts say repeated downgrades are hurting credibility as gold prices set records: The Australian

FIN
🏦 Austrac has ordered a rare external audit of Airwallex, flagging concerns its AML and counter-terror controls haven’t kept pace with explosive global growth. The $US8bn fintech says it’ll cooperate fully, but with IPO prep underway, compliance just jumped to the top of the board agenda: AFR

RETAIL + REAL ESTATE
🏠 Lendlease is pushing beyond the CBD with One Darling Point, a 17-storey boutique apartment tower in Sydney’s Eastern Suburbs, priced from about $6.5m. The project targets downsizers and owner-occupiers, blending high-end apartments with retail and commercial space, and signals a shift toward smaller, ultra-premium residential plays outside the big city: The Australian

TECH + STARTUPS
📱 Meta is under fire after the platform was accused of letting illegal bank-account trading flourish on Facebook. CBA found 1,800+ groups selling mule accounts, prompting warnings from former eSafety chief Alastair MacGibbon that inaction could amount to criminal conspiracy, as regulators point fingers and scammers keep cashing in: Capital Brief

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