In Re Balamara Resources Ltd, the NSW Supreme Court confirmed that liquidators can refuse a creditor's direction to convene a meeting, provided the refusal is reasonable and made in good faith. The liquidators refused, citing concerns under rule 75-250 of the Insolvency Practice Rules that the direction was vexatious and potentially prejudicial. Justice Black accepted the refusal, applying a two-step test: did the liquidators think convening the meeting would prejudice the interests of other creditors, and did they form that opinion in good faith? The Court backed them, noting they’d clearly documented their reasons. Takeaway? Liquidators don’t have to follow every creditor demand, but they must show clear reasoning for the decision: Corrs

ASIC has flagged concerns over buy-backs that shift control, intervening in a case where the CEO and CFO opted out of participating, potentially pushing their holdings to 70.2% and 29.8% respectively. ASIC raised red flags over ambiguous valuation statements in the notice of meeting, including claims that the share price undervalued the company (with no explanation), while also describing the buy-back as being at a premium. No independent expert’s report had been commissioned despite the serious control implications, while the CEO intended to vote on the buy-back. The company agreed to defer the meeting, commission an expert report, restrict the CEO from voting, and later increased the buy-back price. ASIC made it clear: it was ready to go to the Takeovers Panel if needed: ASIC

The Federal Government is trimming back the CISA tender process, shifting from a two-stage to a single-stage assessment to get projects moving faster. Eligibility rules will also be simplified to cut red tape. The change aims to cut the timeline from 9 to 6 months, with simplified merit criteria and streamlined financial bid structure. Bonus points if your renewable project can reach commercial ops by 2030: HSF

The Aussie mid-tier-buys-boutiques trend is only heating up. Firms like HWL Ebsworth, Hall & Wilcox, Sparke Helmore and Moray & Agnew are snapping up smaller shops. Hall & Wilcox's Graydon Dowd says it's about adding depth and expanding geographical footprint. Moray & Agnew's Ian Denham says regional firms bring strong community ties and highly specialised expertise. Top tiers should watch their back: Lawyers Weekly

Summer Irvin is suing Twomey Dispute Lawyers, claiming she was sacked after revealing her pregnancy and later accused of misconduct for telling colleagues “the facts” of her exit. The firm denies the claims, citing “light workload” and poor performance. Irvin’s seeking $230k in comp: The Australian

While the top consulting market is in struggle town, FTI Consulting and Alvarez & Marsal are thriving. They've snapped up top talent from Deloitte, EY, KPMG and PwC, with ex-big four partners now making up over half their MD ranks. FTI grew revenue to $131m in 2024, while A&M surged from $20m to $150m. The pitch? Smaller teams and fatter paychecks: AFR

Tamara Sims joins Dentons as national pro bono head, after leading the pro bono team at Colin Biggers & Paisley and a stint at Gilbert + Tobin. With 20+ years across refugee, discrimination and public interest law, Sims is set to boost Dentons' community impact and lead national initiatives from Sydney: Dentons

ASX small caps Locate Technologies and Opyl jumped into bitcoin, and their share prices surged. Locate became the first ASX-listed company to launch a bitcoin treasury, buying 10 BTC after raising $1.4m. Despite shareholder scepticism, the punt’s paid off - bitcoin hit US$123k, and Locate’s share price has more than doubled in six weeks. CEO Steve Orenstein says every company will hold bitcoin eventually: AFR

Meanwhile, the ASX 200 dropped 0.79%, marking its worst day since May as NAB (-3.4%) led a slide across the big banks. Miners also slipped, despite iron ore topping US$100/tonne. Bright spots? Tech stocks rallied and Iluka (+4.3%) surged on rare earths hype. Meanwhile, Newmont (-5.7%) tanked after a $470m asset sale: Capital Brief

Australia, the US, Japan and India are joining forces to secure and expand undersea internet cables, worried about sabotage and cyber attacks. It’s the latest digital defence push as the Quad shifts focus from land and air to what’s lurking beneath the waves, where a single cut could knock out entire countries’ comms: Bloomberg

ADNOC’s: $36.4bn tilt at Santos may be shaky, with analysts warning its $6.3bn decommissioning bill could be understated. From mothballed rigs to legacy pipelines, the clean-up spans decades. ADNOC and Carlyle are weighing the real cost of exit liabilities as part of their due diligence—and it could spook future asset buyers down the track: AFR

Computershare: is reportedly eyeing PrimaryBid, the once-US$500bn fintech darling now worth just US$56bn after the retail equity boom fizzled. The UK platform is up for sale and has drawn interest from market infra players and banks. A tie-up could help Computershare sharpen its capital raising tech: FinExtra

Lactalis: is tipped to win the $2bn+ race for Fonterra’s Mainland Group, pulling ahead with ACCC clearance and a bid for the full suite of assets. Rival Bega, sidelined over a branding stoush, may have priced itself out. With Meiji moving slow, Fonterra’s leaning towards a clean one-line exit: The Australian

Gina Rinehart says Rio Tinto’s new CEO Simon Trott should relocate the company’s HQ to Perth, where it makes most of its money. Trott is expected to follow former chief Sam Walsh and head to London, ignoring calls to base the company in WA, where most of its profits are made. Trott’s appointment coincides with Rio’s weakest H1 iron ore exports in a decade, hit by four Pilbara cyclones: AFR

BHP, Rio and the Minerals Council of Australia are warning of a looming carbon credit shortage by 2030, saying it could force plant closures and drive up inflation. With demand for offsets set to soar, they’re urging Labor to fast-track high-quality ACCU approvals or risk blowing out net zero costs: The Australian

Visa’s Aussie boss Alan Machet has warned the RBA’s plan to scrap most card surcharges could backfire, calling the carve-out for Amex, Apple, Google and BNPL a “bad outcome” that risks driving up unregulated payments. While he supports the reform in principle, Machet says it threatens security investment and long-term stability of Australia’s payments system: The Australian

Goldman Sachs just posted its best trading quarter ever, hauling in US$4.3bn in equity trading revenue, thanks to volatility from Trump’s tariffs. Profits jumped 22% to US$3.7bn, with assets under supervision hitting a record US$3.29tn. M&A still lags, but advisory fees are up: Capital Brief

Lendlease is doubling down on luxury with a $2.5bn twin-tower project overlooking Hyde Park, expected to break CBD apartment records. Backed by Mitsubishi Estate Asia, the 36-storey towers will bring 300 high-end units to market by FY30. It’s another move in Lendlease’s $4.5bn Aussie pivot, as it reloads its development pipeline: The Australian

Endeavour has pushed its tech separation from Woolies to 2030, citing a “sharper focus” on near-term value. Only payroll has been fully split since the 2021 demerger, despite it already spending $168m in separation costs. Woolies will continue to run core systems: AFR

Mark Zuckerberg’s Meta has warned Albo’s privacy reforms could cripple its ability to train AI that mimics Aussies. Zuck personally raised concerns with the PM, pushing to use Facebook, Insta and WhatsApp chats to authentically model human speech: The Australian

Aussie startup Linkby has locked in a $23m raise led by US VC Volition Capital, valuing the Sydney adtech upstart at nearly $100m. The cash will fuel US expansion, product upgrades, and hiring, as Linkby ramps up its pitch to be the go-to for performance-driven PR: AFR