In an Aussie first, the Federal Court has confirmed that statutory oppression remedies under s 232 of the Corps Act can apply to a company acting as general partner of a limited partnership. Jackman J ruled that oppression claims can extend to partnership affairs, with buy-outs of partnership interests available under s 233 of the Corps Act. This builds on Ritossa, where similar principles were applied to companies acting as trustees of trusts. For private equity and fund managers, entity roles won’t shield you from oppression claims.

The WA Supreme Court allowed a stay of liquidation so creditors could vote on a proposed DOCA, despite liquidators seeking to step in as administrators. Justice Hill held the liquidators were appropriate appointees given their deep knowledge of the company and no conflicts “offensive to commercial morality”. The court made ancillary orders to streamline the transition, avoid duplicate costs and speed things up. No objections were made by ASIC or creditors. The stay was granted not to revive trading, but to facilitate restructure and finalise administration. Courts will look pragmatically at whether the move supports creditor outcomes and cost efficiency, even if the liquidation has already begun: Corrs

Diamond Energy has copped $46,950 in penalties and admitted to breaching the Electricity Retail Code after failing to include mandatory pricing info in comms to over 12,800 customers and across 44+ plans on its website. The ACCC says the omissions undermined price transparency, a key plank of the Code. The company’s now signed a court-enforceable undertaking and will roll out a compliance program. With energy pricing a 2025–26 enforcement priority, the ACCC’s message to retailers is clear: if you’re changing prices, disclose it to customers: ACCC

Lawyers at HSF and Minters in Perth’s Chevron tower have been copping some very distracting views, thanks to their neighbours at the Ritz-Carlton, just 60m away. Rumours of racy hotel room antics (and even adult film shoots) have led to rescheduled meetings and calls for curtains. Welcome to Elizabeth Quay, uncensored: AFR

ASX fights criticism with a facelift? While ASIC launches a sweeping probe into the ASX’s string of failures, the market operator has been busy… rebranding. Out with the old logo, in with a triangular “momentum” symbol, just in time for ASX’s flashy move to 39 Martin Place. ASIC chair Joe Longo’s not buying the vibe shift, calling in the big guns for a CBA-style inquiry: AFR

Thomson Geer has promoted 55 lawyers, including three new partners, hot on the heels of major lateral hires from Ashurst, Hogan Lovells, Clyde & Co, HopgoodGanim and KPMG Law. The Canberra Ashurst raid alone brought in seven partners. TG’s now firmly in expansion mode.

JWS also joins in the promotion party, with four new partners across M&A, energy and PE in Sydney and Perth. It caps off a string of senior hires this year from Clayton Utz, DLA Piper and Clyde & Co, plus a new Japan alliance with TMI Associates. The firm now boasts over 80 partners nationwide: LawyersWeekly

Two WA ‘sovereign citizens’ have copped a month in jail for breaching a court order in what’s believed the first prison sentence for contempt linked to the sovereign citizen movement. The pair defied a court order in a defamation case against their former lawyer. A judge called their views “extremely dangerous” and corrosive to justice: ABC News

Pope Leo XIV is going full steam ahead on AI, warning that unregulated tech could crush human dignity, jobs and justice. The Pope revealed his namesake Leo XIII stood up for the rights of factory workers during the Gilded Age. And now he's doing the same. The new American pontiff is pushing for a binding global AI treaty and calling out the risks of a “technological dictatorship”: The Australian

Decades after Kirkland & Ellis handed out partner titles without equity, Big Law has followed suit. Other US firms like Cravath and Paul Weiss now offer “salaried partner” gigs — all title, less ownership — as a way to boost profits without cutting the equity pie. The shift’s great for optics and retention, but critics warn that most will never leave the "costly purgatory" of non-equity partnership. Will more Aussie top-tiers follow suit? Financial Times

Virgin Australia: is back on the ASX with a $2.3bn IPO, five years after collapsing into admin. Gilbert + Tobin steered the comeback, leading both the float and Qatar’s 2024 pre-IPO stake. It’s now a G+T hat trick after IPOs for GYG, SiteMinder and DigiCo. We unpacked how G+T won the Virgin IPO revival mandate and brought Australia's second biggest airline back to market. Read more here.

Kinterra Capital: has lobbed a $204m cash bid for New World Resources, trumping CAML’s 5.5c offer with a 5.7c play. It’s also grabbed a 19.16% stake off RCF and is now pushing the Takeovers Panel to block any placement. Allens is advising Kinterra. The battle underscores copper’s comeback, with Harmony’s $1.6bn Mac Copper bid still fresh: AFR

New Murchison Gold is tapping investors for $15m after an 80% share price surge, as it pivots from explorer to miner. The funds will support its Crown Prince project, where its first production is set for June 30. With all approvals in and 140k ounces headed for Westgold, Murchison’s gold moment is here: AFR

EY data shows mining royalties and company tax dropped $14.6bn (46%) in 2023–24, triggering warnings from the Minerals Council over “unfavourable policy settings”. With iron ore prices dipping and productivity down four years in a row, miners want to reset IR laws and cut red tape before weak Chinese demand makes things worse: The Australian

Australia’s mining sector delivered a $14.6bn drop in taxes and royalties in 2023–24, triggering calls for a policy reset. The Minerals Council says sluggish productivity and rising union power are dragging the sector, just as iron ore prices wobble and Chinese steel demand softens. The pitch? Less red tape, more support to keep the golden goose alive: The Australian

NAB has slashed its Reward Saver rate to 4.35%, following the RBA’s May cut, hitting Aussies trying to stash cash. BOQ and ING also joined in, with ING slashing by 40bps. While mortgage holders cheer rate relief, savers are getting punished, with term deposit rates falling even faster. More cuts are tipped: Daily Mail

Burrito now pay later? BNPL is now on the menu for food delivery, with Klarna teaming up with DoorDash in the US. In Aus, Zip is already live on UberEats. But since June, BNPL is officially regulated as credit, meaning providers need a licence and must follow stricter rules. With 71% of respondents using BNPL for food, ASIC says it’s about protecting consumers from “awful traps” like burrito debt": ABC

Metcash’s tobacco sales have plunged $1.3bn (40%) since 2021, as organised crime floods the market with cheap, illicit products. CEO Doug Jones says the issue is no longer just about tobacco but a “societal problem” that needs urgent government intervention. Illicit sales now make up 39% of the tobacco market: AFR

The AFL is circling Waverley Park, bidding to buy the former Hawks base for $10m–$20m, after Hawthorn paid just $1 in 2006. With Marvel Stadium already in its pocket, the AFL wants more venues to hit 10m attendees and 1m participants. And bonus: the site rakes in $600k a year from Goodlife Gym: realcommercial

Canva’s being sued in Texas by Canadian serial litigant Cedar Lane over its AI voice tool, just as it gears up for a $773m secondary share sale. Cedar Lane's MO? Sue deep-pocketed tech firms (Amazon, Zoom, now Canva) and settle fast. Canva’s fighting back, calling it frivolous litigation aimed at scaring firms ahead of an IPO: AFR

Washington says Chinese AI firm DeepSeek is helping Beijing’s military and intelligence arms, and dodging US chip export bans by routing orders through Southeast Asian shell companies. The firm reportedly accessed Nvidia H100 chips after the US banned Nvidia from selling chips to China: Reuters