Mark Pistilli's plan to build Gadens into Australia's next leading independent firm was hatched beside a swimming pool in Las Vegas. Since taking the reins as CEO, he's grown partner numbers by 60%, ditched family law and mums-and-dads work, and plans to take on the likes of Corrs and G+T while staying fiercely independent. Read the full interview here: Point Blank

⚖️ M&A: ASIC has, for the first time, publicly called out the blowout in scheme booklet length. Average page counts have more than doubled since 2000, climbing from 183 pages to over 440. One draft explanatory statement reportedly ran to around 1,500 pages before ASIC's queries trimmed it back to roughly 500. Unlike prospectuses, there's no statutory ‘clear, concise and effective' standard for scheme booklets, but ASIC's point is unmistakable — companies should apply the materiality test properly, cutting duplicated or immaterial content, or risk queries that add real time and cost to deal: ASIC, HSF Kramer

⚖️ Disputes: In Zhong v Yang, the Victorian Supreme Court granted an ex-parte freezing order against non-party companies controlled by the defendants. The dispute concerns a joint venture to acquire and develop Australian properties through special purpose vehicles. Nichols J reaffirmed that freezing orders are a drastic remedy. Applicants need admissible evidence of a ‘good arguable case' and must usually give an undertaking as to damages. A risk of dissipation is more readily inferred where the evidence points to serious dishonesty — in this case, alleged unauthorised encumbrances and transfers. The order's value is capped at the likely maximum of the claim, interest and costs included, so plaintiffs can't overreach: Victorian Supreme Court

⚖️ Insolvency: Mawson Infrastructure, a US company registered as a foreign company in Australia, tried to terminate its own Australian winding up. The Federal Court said no. Once a liquidator is appointed, directors' powers are suspended under s 198G, even if those directors keep acting back home. That means Mawson couldn't bring the termination application itself. Only the liquidator can, though Mawson can apply for leave to support that application as an interested party. Justice Downes also flagged real-time cooperation with the US Bankruptcy Court, including a possible joint case management hearing. It signals that Aussie courts are getting comfortable coordinating directly with foreign counterparts on cross-border insolvencies: Corrs Chambers Westgarth

Need a break in proceedings? Step away and join us for a breakout session.

Legora is taking over Kiosk Salvador Coffee at 33 Alfred Street in Sydney CBD, with coffee flowing and cinnamon buns for the first 100 guests each morning. First come, first served, because a bun this good is worth being early for.

Thursday, September 3, 8:30 to 11:00 am.

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Data centres are paying junior electricians up to $200,000 through overtime, pulling tradies away from home building. With AI, housing and energy projects all competing for the same workers, Burning Glass Institute predicts the shortfall could hit over 5,400 electricians by 2028, with housing set to lose: AFR

Unis are taking a split approach with AI. Adelaide, Newcastle, Deakin and RMIT let staff use AI to help mark your work, as long as a human checks it before it goes out. UNSW, Melbourne and Sydney ban it outright, saying grading needs human judgment, not algorithms: AFR

🏘️ Gilbert + Tobin and Clayton Utz are running Ingenia Communities' ~$1bn scheme to acquire ASX-listed developer Peet, creating Australia's biggest listed pure-play living sector platform. Peet shareholders cop 0.3367 Ingenia securities plus $0.68 cash each, a 21% premium: Point Blank

🙅 Pengana Capital has taken Wilson Asset Management to the Takeovers Panel, trying to stop WAM's stake in Pengana International Equities creeping past 20%. Pengana says the fund's buy-back booklet was deficient and conflicted: Capital Brief

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