It’s a big day for legal tech. Harvey has launched 500+ legal AI agents covering common workflows. Clayton Utz was a design partner in building them, with AI head Simon Newcomb describing the agents as “digital colleagues who can perform delegated work.” Meanwhile, its rival, Legora has acquired Aussie startup Graceview, a regulatory tracking platform covering 100-plus jurisdictions — its third acquisition in three months: Point Blank

⚖️ Regulatory: ASIC has slugged four Australian Canva Group entities with infringement notices totalling $792k for failing to lodge their FY24 financial reports by the 30 April 2025 deadline. Each company, including Canva Pty Ltd, Canva Operations, Canva Trading and Fusion Books, copped a $198k notice each. The consolidated report wasn't lodged until 27 March 2026, nearly 11 months late. ASIC has now issued 21 infringement notices worth more than $4m for alleged FY24 breaches. It’s clear that financial reporting compliance is a top enforcement priority: ASIC

⚖️ Insolvency: Creditors' schemes of arrangement and Chapter 11 look similar on paper, but practitioners shouldn't conflate them. White & Case gives the rundown on the differences. Chapter 11 is a debtor-in-possession regime with an automatic stay, contract rejection powers, cross-class cramdown and global portability. Australian creditors' schemes offer no bankruptcy estate, no automatic moratorium, no cramdown, and a 75% value threshold with no mechanism to override a dissenting class. For targeted debt restructurings, schemes work well. For wholesale or cross-border reorganisations, Chapter 11 remains the more effective vehicle, and Australian companies with US exposure should take note: White & Case

⚖️ Employment/WHS: The NSW District Court has convicted Young Mining Company of failing to comply with a s 155 notice under the Work Health and Safety Act, finding that 19 of 52 compulsory questions were answered inadequately following a 2021 incident. The Financial Controller responded by the due date, but partial compliance isn't compliance. A s 155 notice is a compulsory statutory direction, not an invitation to cooperate, and courts will scrutinise responses question by question: Hall & Wilcox

Albo is dropping $10bn in the upcoming budget to shore up Australia's fuel and fertiliser security. The package sets up a permanent government-owned fuel reserve of around 1 billion litres and adds roughly 10 extra days to minimum stockholding obligations across every fuel type: Capital Brief

Iran's got two days to respond to a US peace proposal, with Trump warning "the bombing starts" if Tehran says no. The deal offers sanctions relief and a moratorium on uranium enrichment in exchange for gradually reopening Hormuz and lifting the American blockade on Iranian ports: Bloomberg

⚒️ Corrs and Mallesons are on either side of the $10.7bn all-scrip merger between Regis Resources and Vault Minerals. Corrs, led by Russell Philip, is a natural pick for Vault, having advised Silver Lake on the 2024 merger that created Vault itself. Mallesons’ Nigel Hunt leads for Regis, a longstanding client: Point Blank

💵 Gilbert + Tobin and Allens are acting on private equity's largest-ever punt on Australian accounting, with Grant Thornton Advisors, backed by PE firm New Mountain Capital, acquiring Grant Thornton Australia. G+T repped the buyer. Allens acted for the Australian firm, with Maddocks assisting: Point Blank