ODPP seeks to recuse Judge Penelope Wass

Dentons-Dacheng rekindles Hong Kong ties

US demands Aussies’ social media history

The feud between NSW DPP Sally Dowling SC and Judge Penelope Wass has escalated, with prosecutors seeking to recuse the judge from up to eight criminal matters after her explosive parliamentary submission accused the ODPP of misconduct. The move risks derailing a four-year historic abuse trial involving elderly cancer patients, as the court grapples with bias claims, privilege questions and a rapidly filling recusal list: The Australian

While Mallesons ditches King & Wood, Dentons and Dacheng are rekindling their relationship with a new Hong Kong association as Dacheng launches an office in the same building. Two years after a high-profile split over China’s regulatory climate, the firms say Hong Kong never stopped being the glue: AFR, Law.com

EY has been hit with yet another UK watchdog investigation, this time over “unauthorised” audit reports issued by two auditors and the firm itself. It adds to four ongoing probes. EY’s already paid £5m (A$10m) in fines this year and says it’s cooperating as the pressure keeps climbing: Financial Times

Copyright/Employment: The Federal Circuit and Family Court held that a former employee infringed RAMA’s copyright and misused confidential design data when she downloaded templates and business files before resigning to launch a competing brand. Despite claiming she deleted the files to preserve personal data, the Court found her templates substantially reproduced RAMA’s proprietary works, which RAMA owned under a Deed of Assignment. The design data was confidential and not publicly available, and its use breached duties of confidence, fiduciary obligations and ss 182–183 of the Corps Act. The Court granted permanent injunctions and ordered an account of profits.

Arbitration/Disputes: Australian courts generally allow preliminary discovery even where parties have agreed to arbitrate, because a discovery motion is not a “matter” under s 7(2) of the International Arbitration Act or the Model Law (per nearmap). But in Illawarra Basketball Club v NBL, the Court stayed a preliminary discovery application under its inherent powers because the licence agreements contained a broad covenant not to sue that barred any court proceedings relating to the parties’ participation in the NBL. The clause made clear that the proceedings prohibition applied to “any other matter regarding … their participation in the NBL”. The Club’s act of filing the preliminary discovery application amounted to instituting proceedings. Unduly broad dispute clause drafting can shut out a party from domestic court procedures: HSF Kramer

Corporate: ASIC has brought its first case against a research house, alleging SQM Research issued “favourable” ratings for the now-collapsed Shield Master Fund without obtaining key documents, properly verifying data or resolving glaring inconsistencies. ASIC claims SQM misstated Shield’s asset mix and related-party exposures, and lacked any reasonable basis for its ratings, which influenced advisers, super trustees and platform access. ASIC alleges misleading conduct and breaches of the efficient, honest and fair duty. The action underscores ASIC’s heightened scrutiny of private credit and the robustness of external ratings: Clayton Utz

Aussies heading to the US will soon have to hand over five years of social media history, with the Trump administration moving to make it mandatory for Visa Waiver travellers. More than 1 million Australians visit each year, but the tightened rules come as Trump rolls out new bans and tougher screening: AFR

The US Fed Reserve has cut rates again, trimming 25 bps for the third meeting in a row, but the first triple dissent since 2019 shows just how divided officials are. One governor wanted a bigger cut; two wanted none. Meanwhile, in Australia, economists are split on whether the RBA hikes next: Bloomberg

IAG: has been stopped in its tracks, with the ACCC knocking back its $1.35bn bid for RAC WA’s insurance arm over fears it would dull competition and push up premiums. The regulator says the deal would wipe out a key rival in WA’s motor and home insurance market. IAG will now try its luck under the new mandatory merger control regime, kicking off 1 Jan: ACCC

BHP: has inked a $3bn deal with BlackRock’s GIP, carving out a new entity that will own nearly half of its Pilbara power network. BHP keeps 51 per cent and operational control, paying tariffs over 25 years. The move is classic asset recycling as miners hunt capital for growth, with Rio also prepping multibillion-dollar divestments: AFR

BHP Americas boss Brandon Craig says Australia’s policy settings are driving investment offshore as Chile, Argentina, the US and Canada roll out aggressive incentives for critical minerals. With copper needing US$250b in new capital this decade, Craig says Australia risks being left behind unless it recalibrates its tax, IR and climate positions fast: The Australian

Rio Tinto is pushing to get sale material out before Christmas as it tries to sell a bundle of non-core assets in one line. Private equity is expected to swarm, with mineral sands the big-ticket item, generating $600m–$700m a year and tipped to fetch 2–3x EBITDA: The Australian

APRA has slapped extra licence conditions on HESTA after its admin provider switch triggered months of service disruptions and “direct harm” to members. The $100bn fund was found to have weak board oversight and risk management, leaving it unprepared for the transition: Capital Brief

HSBC Australia is now tipped for a 2026 sale after credit funds joined the mix, with a break-up deal on the table that could see deposits, loans and other assets sold to multiple buyers. NAB’s nonconforming bid shows it wants the $30bn deposit base, but not the whole shop: The Australian

Australian Retirement Trust is in due diligence on a 25% stake in Westfield Sydney, valuing the flagship mall at about $4.4bn. The move signals super funds are back hunting marquee retail assets, following UniSuper and Cbus’ Macquarie Centre buy, and reflects renewed confidence in ultra-prime CBD retail despite broader commercial softness: The Australian

PEXA is taking the NSW Registrar General to court after being blocked from passing on a $1-per-transaction levy that funds Australia’s National eConveyancing Data Standard. PEXA refuses to pay the ~$3m annual charge unless all registries sign off, but NSW won’t approve it until a broader pricing review concludes in FY26: Capital Brief

Firmus is chasing a $7bn valuation as it gears up for a March IPO. The AI infrastructure startup is raising again after pulling in $1bn in 12 months, with Blackstone lining up a $10bn asset-backed debt deal. Its Nvidia and CDC partnership could deliver $73bn in AI data centres by 2028: The Australian

Australian uni students say their degrees aren’t preparing them for an AI-driven workplace, forcing them to self-teach the very tools employers now expect. AI rules differ wildly across faculties, with some courses banning it entirely despite firms using it daily: AFR