👋 G’day

Welcome back to another day of insights

Today’s brief:

  • Sydney offers hit $100k base excl. super

  • WA inquiry targets bias claims at LPB

  • States criminalise kids’ crime posts

Here’s your latest 👇

PRACTICE POINTS

Cancer survivor dismissed

  • The Fair Work Commission has upheld the dismissal of a bowel cancer survivor employed by Church Missionary Society – Australia Ltd, finding repeated breaches of lawful and reasonable directions. After surgery, the employee was cleared to work but was often uncontactable during business hours and instead sent emails late at night. Despite being directed to notify his manager if unable to work, stick to normal office hours, and provide medical confirmation of any restrictions, he continued working “off the clock”. The Commission found the conduct was not minor or trivial, the directions were valid, and procedural fairness was provided. Health issues did not excuse persistent non-compliance: Copper Grace Ward

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  • The Federal Court has found Apple and Google misused market power in breach of s 46 CCA by restricting alternative app stores and payment systems since 2017. Brought by Epic Games, the case is the first contested test of the 2017 misuse of market power reforms. Justice Beach held Apple had substantial power in the iOS App Distribution and iOS In-App Payment Processing markets, while Google had power in Android App Distribution and Android In-App Payment Solutions. Both were found to have substantially lessened competition by mandating the use of their app stores and payment systems, foreclosing rivals and inflating developer commissions. Other claims under ss 45, 47 and unconscionable conduct failed. Apple and Google have 28 days to appeal. Check out Gilbert + Tobin’s deep dive here.

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  • The Federal Court has ruled that reliance on external legal advice won’t mitigate penalties where directors fail to meet their disclosure and duty obligations. As we’ve previously talked about, former CEO Nickolas Karantzis of iSignthis Limited was disqualified for six years and fined $1m for breaching s. 180 directors’ duties, giving false information to the ASX and contravening continuous disclosure laws. Interestingly, Karantzis claimed he relied on lawyers, but the Court found one adviser hadn’t been retained to advise on disclosure, and the other wasn’t given full or accurate facts. The Court said incomplete or misdirected advice provides no protection against penalty.

WORD ON THE STREET

Grad pay soars

  • Law grad salaries have soared, with Sydney top tiers now paying up to $100k (excl. super), and Arnold Bloch Liebler leading the pack at ~$116k (excl. super). That’s a hefty jump since 2020, when Syd pay tapped out at $70k. With young talent in hot demand, firms are paying up—or missing out. Check out our full post here.

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  • The investigator becomes the investigated. WA’s Legal Practice Board is facing a parliamentary inquiry after mounting pressure from lawyers alleging bias against sole practitioners and reluctance to pursue big firms. The Law Society of WA will give evidence, citing widespread concerns from its member survey. The regulator, funded by $1.5k per-lawyer annual fees, is now sitting on a cool $20m in reserves: The Australian

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  • Mills Oakley has nabbed Bronwyn Ackland, an insurance litigation veteran and ex-Barry Nilsson principal, as partner in Adelaide. With 25 years across med neg, PI and public liability, Ackland adds serious firepower to MO’s growing national insurance bench. It caps off a big hiring spree, with 10+ partner moves since February: LawyersWeekly

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  • Lisa Hannon and Robert Craig have been appointed to the Supreme Court of Victoria. Hannon, a former AFL Tribunal counsel and Bar VP, took silk in 2020 and joins the Common Law Division. Craig, a banking royal commission alum, signed the roll in 2006 and took silk in 2019, joins the Commercial Court division: Australasian Lawyer

TALKING POINTS

Solopreneur boom

  • Gen AI is fuelling a wave of “solopreneurs”, with startups like Solace built almost entirely with AI support. Advocates say AI can handle product design, marketing and admin, making it possible for a single founder to scale to a $1bn valuation. Founders are now also waiting longer to hire staff, with the average stretching from under six months in 2022 to over nine months in 2024: Economist

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  • You’d think you’d be guaranteed your flight when flying with Australia’s flag carrier. Think again. The ACCC says Qantas scrapped more flights than any rival in June, cancelling 3.5% of services — well above Virgin’s 1.6% and the 2.2% industry average. The worst-hit route was Canberra–Sydney, with nearly 12% cancellations. Despite a 12% drop in jet fuel costs, airfares also rose across all major airlines: TDA

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  • Almost every state has now moved to criminalise young offenders posting crime footage online, with Victoria passing laws this week and WA debating similar measures. Governments say the reforms tackle “crimfluencers”, but legal groups warn they’re harmful, pointless and risk jailing more kids. Critics argue existing sentencing already covers social media bragging, and the new laws are just political theatre: The Guardian

DEAL ROOM

Shareholder revolt

  • Iress: shareholders are not happy. They’re piling on the pressure for a $2bn PE buyout, blasting the board in a series of scathing letters. With Thoma Bravo in the data room and Blackstone circling after its earlier $10.50-a-share tilt, investors are fed up with stalled turnarounds and ageing software. The message to Chair Roger Sharp is blunt: engage, or get out of the way: AFR

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  • Hancock: is eyeing Saudi Arabia, with Gina Rinehart teaming up with state-owned miner Ma’aden to bid for new tenements in three mineral belts. It follows a March win in Al-Hajjar, where her consortium pledged $26m for exploration. For Rinehart, whose $38bn fortune was built on iron ore, it’s another step in her global push into rare earths and critical minerals: AFR

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  • Allgas: is up for grabs, with Macquarie Capital running a sale that could fetch $600m+. The network spans 3900km of mains from Brisbane to northern NSW, servicing ~120k users. Owners APA (20%), Marubeni (40%) and SAS Trustee Corp (40%) are tipped to draw strong interest, given steady earnings and the sector’s pivot to energy transition plays: The Australian

SECTOR SPECIFIC

Qantas’ pandemic penalty

🚜 DIGGERS
  • Victoria’s renewable transmission plan has blown out to $8bn, nearly double last year’s draft. Energy Minister Lily D’Ambrosio says the spend will cut bills long-term. But critics like Bruce Mountain call the numbers “patently implausible”, warning higher costs could drive industry out of the state: AFR

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  • Chevron boss Mike Wirth admits design shortcuts and cost pressure hobbled its $3.2bn Gorgon carbon capture project, which stores just 1.6m tonnes of CO2 a year but against a 4m target. He still backs carbon capture, likening it to LNG’s slow start, but says the sector needs clear price signals and long-term contracts before investors buy in: The Australian

🏦 FIN
  • Sydney start-up Block Earner has closed an $8m Series A at a $75m valuation, with backing from Coinbase and VCs including King River Capital, to launch crypto-backed home loans in November. Borrowers can pledge bitcoin or ethereum for loans at 9.5% interest, capped at 40% LVR, unlocking deposits without selling crypto: AFR

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  • CBA business boss Mike Vacy-Lyle says NAB and Westpac are slashing loan prices to grab market share, calling it “completely unsustainable.” Under his watch, CBA has lifted business loans 76% to $161b and profits to $4.1b, but its 18.9% lending share still trails NAB’s 21.7%: AFR

🏠 RETAIL & REAL ESTATE
  • After five years of legal battles, Qantas will be hit with a multi-million dollar penalty on Monday for unlawfully firing 1800 ground staff during the pandemic. Justice Michael Lee is weighing a fine of up to $121m, dwarfing usual IR penalties. The TWU wants the money paid to unions, while Qantas pleads for $40m as a first-offence discount: AFR

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  • Mirvac CEO Campbell Hanan says tumbling rates have primed the market for a rebound, with $1.9bn in pre-sales and unconditional sales up 39%. The developer is doubling down on build-to-rent, land lease and middle-ring estates. Fiscal 2025 profit hit $68m after last year’s loss, with margins tipped to recover in 2026: The Australian

📱 TECH & STARTUPS
  • Blackbird Ventures is set to raise more than $700m for its sixth fund by late September, even as global VC slows. It follows the firm’s record $1bn fund in 2022 and builds on a $7bn portfolio anchored by early bets like Canva. Blackbird says investor appetite remains “strong,” with new and returning backers joining: Capital Brief

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  • The Tech Council of Australia, led by Atlassian’s Scott Farquhar, has urged the government to avoid bespoke AI regulation, warning it would stifle innovation and investment. Instead, it wants a national AI advisory board and pathways for super funds to back start-ups. Farquhar will also push for looser copyright rules to train models, no doubt angering media and artists: AFR

P.S.

Happy Monday

Till next time,

-Team PB

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