HSF Kramer is backing a two AI strategy. The top law firm is rolling out Legora as its firmwide AI platform, despite its tie-up with Harvey. That's now three of the Big 6 on Legora's books, alongside Allens and MinterEllison. Harvey still claims Ashurst, Mallesons, Clayton Utz, Corrs and G+T. The AI arms race among the top tiers isn't slowing down: Point Blank

⚖️ Loans/Contract: No written loan agreement? No problem. In Crispino v Kiparoglou, the Victorian Supreme Court allowed liquidators to recover nearly $725k from a former director and his related company, inferring the existence of loans entirely from the company's Xero accounting records. Cosgrave J provided a detailed synthesis of the authorities on s 1305 of the Corporations Act, confirming that book entries labelled as loans can ground an inference of indebtedness where there's no challenge to the reliability of the records, no contrary evidence, and the parties' relationship (here, a small family company) makes informality unsurprising.

⚖️ Regulatory/Banking: APRA has released a discussion paper proposing its first major overhaul of prudential governance standards in over a decade, targeting banks, insurers and super trustees. The eight proposals include enhanced board composition and skills requirements, elevated fit and proper standards for responsible persons, extended conflict of interest obligations across banking and insurance, strengthened board independence measures, and a default 10-year lifetime tenure cap for non-executive directors. Some proposals carve out smaller entities that aren't significant financial institutions. Submissions close 6 June 2025.

⚖️ Compliance: ASIC has applied to the NSW Supreme Court to wind up Liberty Bell Bay, part of the GFG Alliance group, on just and equitable grounds after the company failed to lodge annual financial reports for five consecutive years (2021 to 2025). ASIC had already obtained court orders compelling compliance, which were ignored. Financial reporting failures are a stated ASIC enforcement priority for 2026, and this action signals the regulator is prepared to go nuclear where companies treat lodgement obligations as optional. Large proprietary companies must lodge within four months of financial year end, and if an extension is needed, ASIC relief must be sought before the deadline passes: ASIC, G+T

The RBA looks set to hike twice more, with all four major banks now forecasting back-to-back 25bp rises in March and May, pushing the cash rate to 4.35%. The Iran conflict has sent oil prices surging, inflation expectations are climbing past 5%, and markets are even pricing a possible third hike to 4.6%: Bloomberg

Perfectly polished emails used to signal competence. Now they just signal ChatGPT. Business Insider reckons typos are the new power move, pointing to Jack Dorsey's all-lowercase memos and David Ellison misspelling his own name in texts. The piece revives the idea of "emailing like a CEO": subject line only, no body, reply in three words. In a world where anyone can produce flawless prose with AI, a sloppy email signals authenticity: Business Insider

💰 Pay.com.au, the payments platform that turns business expenses into frequent flyer points, is pushing ahead with an $850m ASX listing in April. The company's raising $85m in fresh capital via Morgans, with no sell-down by existing shareholders. Revenue hit $73m last financial year, with forecasts pointing to $130m-plus this year: AFR

🎳 TPG has tapped UBS to run an auction of Funlab, the entertainment group behind Strike Bowling, Holey Moley and Archie Brothers. TPG acquired the business from Next Capital in 2020 for around $250m, with management rolling a 25% stake into the deal alongside TPG. Revenue hit $265m in FY25: AFR