👋 G’day
Today’s brief:
Judges lose patience with sloppy filings
New Maddocks boss targets top-tiers
Sigma lawyers up for tilt at UK’s Boots
Here’s your latest, PB #{{join_number}} 👇
WORD ON THE STREET

Paperwork gets personal

NSW Supreme Court's Equity Division is waging war on bad paperwork. Justice Bennett opened a recent judgment with a spray about non-compliant hole punching, dodgy tab dividers and sloppy pagination, before getting around to the actual legal issues. It follows Justice Hammerschlag nearly throwing out the Dexus trial over the same crimes: AFR
Maddocks has tapped construction partner Paul Woods as CEO from 1 July, replacing David Newman after six years. Woods isn't shy about his target: make Maddocks the go-to independent alternative to the Big 8. He joins a growing pack of mid-tier challengers, with Gadens explicitly shedding practice areas you wouldn’t find in a tier one firm: Point Blank
While international firms like Hogan Lovells have slunk out of Australia, Sullivan & Cromwell has quietly built a 43-year niche doing one thing: US law for Aussie corporates. BHP, Woodside and Transurban are already on the books. Now it's eyeing the $3tn super sector: Law.com
PRACTICE POINTS

Court blocks arbitration
⚖️ Disputes: Want to force your counterparty to arbitrate? Make sure your clause actually lets you do that. In Dnata Airport Services v Polar Air Cargo, Dnata tried to stay contractual cross-claims brought against it by Polar Air and compel arbitrationafter Polar Air sued Dnata. Dnata argued Article 9 of their IATA ground handling agreement let either party elect arbitration unilaterally. The NSW Court of Appeal disagreed unanimously: "the parties may elect" meant both parties had to elect arbitration. The third sentence directing litigation if the parties "fail to agree to an arbitration process" sealed the Court's finding.
⚖️ Employment: Think your overseas employees are beyond Fair Work Act reach? Think again. In Sanderson v Brightest Australia, a New Zealand-based employee selling a subscription app to Kiwi customers successfully lodged an unfair dismissal claim against his Australian employer because his contract was formed in Victoria, where the acceptance email was received. That made him an "Australian-based employee" under the FW Act, despite never working here. To exclude an offshore employee from FW Act coverage, both limbs of the exception must be satisfied: the employee must be engaged outside Australia and engaged to perform duties outside Australia: Hall & Wilcox
⚖️ Regulatory: Two Western Australian produce companies have copped record penalties. Fruitico, which processes around 80% of WA's table grapes, paid $99k for allegedly trading with growers without a Horticulture Code-compliant produce agreement in place. Wholesaler Fresh Express paid another $99k for failing to provide growers with required gross sale price information. The ACCC used the occasion to push for a stronger Horticulture Code, flagging that the current version hasn't been updated since 2017: ACCC
POWERED BY DDLOOP

DDLoop is the day-1 due diligence platform trusted by leading deal lawyers at HSF Kramer, MinterEllison, Lander & Rogers, Talbot Sayer, Kain Lawyers and more.
Turn your ASIC, PPSR, IP and Court searches into an interactive deal space that helps you work – with structure charts, live monitoring and reporting straight into your firm's Word precedents.
Gerry Cawson, Director & Co-Head of M&A at Kain Lawyers said: “Once people used DDLoop, they did not want to go back… the old way of doing searches felt immediately and obviously inferior by comparison.”
TALKING POINTS

Inflation hits

Did you hear…
US inflation hit 4.2% in May, a three-year high, with energy prices driving over 60% of the increase since the Iran war shut the Strait of Hormuz. Petrol's up 40% year-on-year, airfares 27%, and three-quarters of Americans say wages aren't keeping up. Trump's response? "I love the inflation": CBS, The Guardian
Also…
Anthropic CEO Dario Amodei is doing something rare for a tech CEO: actively lobbying for the government to have the power to block his own products. He says AI should undergo mandatory third-party testing across categories like bioweapons and cybersecurity, and if a model fails, the government should block deployment. He's comparing AI to cars, planes and drugs: powerful, but lethal if mismanaged: Bloomberg
DEAL ROOM

Sigma’s UK tilt
💊 Sigma Healthcare (aka Chemist Warehouse's parent) has lawyered up with three firms as it weighs a tilt at 177-year-old British pharmacy chain Boots, valued at ~$14bn. Sigma is relying heavily on Freshfields, HSF Kramer is running point locally, and G+T's John Schembri is across the debt: AFR
🏥 MinterEllison advised buyer consortium Stonepeak and Abu Dhabi's Axight Capital, with Allens acting for seller Bain Capital on its exit from Estia Health, Australia's second-largest aged care operator: Point Blank
SECTOR SNAPSHOT

Investor slump


DIGGERS
🚜 Northern Star's chair Michael Chaney has pushed back on Elliott Management's call to sell the company. The miner confirming it received multiple takeover and merger approaches over the past year but rejected them as they weren’t in shareholders' interests. Elliott's 4% stake and scathing criticism of "worst-in-class" returns haven't moved the needle yet: Capital Brief, AFR

FIN
🏦 Westpac's investor home loan applications have dropped 20% in three weeks since the budget axed negative gearing on existing properties and introduced a 30% minimum CGT from July 2027. Consumer chief Carolyn McCann's flagging a surge in interest-only lending as investors adapt, with housing credit growth tipped to slide from 6.5% to 4.7% next financial year: AFR, The Australian

RETAIL + REAL ESTATE
🏠 Dexus is poised to sell 480 Queen Street, Brisbane's BHP-anchored skyscraper, for close to its $680m book value in what would be the city's largest office sale. Also, Qantas is quietly moving to retire its 10 Airbus A380 planes, eyeing more fuel-efficient A350s and 787s as replacements: The Australian, AFR

TECH + STARTUPS
📱 Labor's CGT overhaul is spooking the startup and VC sector, with any carveout not expected until December at the earliest. The concern isn't just the final policy. It's the months of uncertainty while founders, investors and employees wait. Treasurer Chalmers has flagged an exemption but hasn't locked one in: Capital Brief
P.S.




