Former High Court judge Michael Kirby went off-script at a UNSW contract law launch, gushing over the “astonishing brain power” of old mate Dyson Heydon, whom a 2020 High Court investigation found harassed six associates (he denies it). One academic walked out. Kirby isn’t backing down; he doesn’t “approve of airbrushing people out of history”: AFR

⚖️ ESG: The ACCC has released new guidance on emissions claims to consumers, and the starting point is how the average consumer would understand the claim. Businesses should base claims on complete, reputable, science-based accounting, avoid broad or selective claims, and never count the same emissions reduction twice. Businesses also shouldn’t present industry-wide changes, or things they’re legally required to do, as their own efforts. Carbon credits are still fair game, but implying they cancel out emissions needs a reasonable basis. Clorox has already copped $8.25m for greenwashing: ACCC

⚖️ Insolvency/Privilege: In McCabe v Mosaic Brands, Markovic J gave the first in-depth look at how far legal professional privilege protects safe harbour advice. The Court held safe harbour serves both the company and its directors, who rely on it against insolvent trading claims. Sharing the advice with senior staff like the CEO or CFO, or having non-directors prepare board packs, won’t necessarily waive privilege. But recording safe harbour advice in board minutes will. Directors should discuss the advice in closed sessions, ideally without non-directors, with minutes noting only that a discussion took place: HWLE

⚖️ Corporate: ASIC isn’t letting the Rex NEDs fly off just yet. The regulator is seeking leave to appeal the NSW Supreme Court’s finding that former non-executive directors John Sharp, Siddharth Khotkar and Lincoln Pan didn’t breach their duties over Rex’s February 2023 profit forecast. The Court found Rex breached its continuous disclosure obligations but cleared the NEDs and rejected misleading conduct claims. ASIC says the primary judge erred. Meanwhile, former CEO Lim Kim Hai was disqualified for four years and hit with an $800k penalty: ASIC

Don’t expect your mortgage to have a winner on Melbourne Cup day. RBA assistant governor Sarah Hunter told 60 Minutes the bank is “not quite yet” done fighting inflation, all but locking in a fifth hike this year when the board meets next Tuesday. Rates are already at a 15-year high of 4.6%: Bloomberg

Rebel Wilson might want to frame her UNSW law degree. Her co-producers on The Deb sued her, claiming her online accusations of theft and misconduct sank the film, which made just $335k on a $22m budget. The NSW Supreme Court gave them $10 and threw out the rest. Wilson, who countersued, walks away with $359k plus interest: The Guardan

🏡 Avid Property Group has crashed the party at Ingenia, reportedly tabling an offer over the weekend just as Warburg Pincus pushed for exclusivity on its $5.25-a-security, $3bn bid. The AV Jennings owner is backed by Proprium Capital and Abu Dhabi’s Mubadala: AFR

🔬 Pathology player Healius may be on private equity’s radar. At last week’s AGM, chair Kathryn McKenzie said there are no “current” approaches, but the board has a defence strategy and up-to-date valuations ready just in case. Three PE firms are reportedly circling: The Australian

💰 Megaport could be gearing up for another raise, with banks sounding out investors on $700m to $1bn just four months after its $825m rights issue. BofA and Barrenjoey are tipped as likely JLMs: AFR

Rio Tinto is pouring $2.7bn on a new bauxite project at Weipa, keeping its Cape York operations running beyond 2050. It’ll replace output from its Andoom and Gove mines, both nearing closure. It follows Rio’s purchase of the nearby Aurukun project from Glencore and Mitsubishi, which still needs government approval: AFR

NAB is scrapping 3,200 existing positions before Christmas, forcing thousands of staff to reapply for roles in its new structure. With fewer spots to go around, one manager likened the “spill-and-fill” process to the Hunger Games. Those taking voluntary redundancy leave on 2 December: AFR

OUE REIT has snapped up 50% of Sydney’s Salesforce Tower for $864m, the year’s biggest property deal, letting China’s Ping An exit. It paid a lower effective price than for its 19.9% stake earlier this year. The deal sets a benchmark for office prices, with over $10bn of office buildings still up for sale: The Australian

Blackbird invested a record $297m across 16 companies in the September quarter, putting it on track to deploy over $1bn this year. AI infrastructure took 42% of its early-stage funding. Partner Tom Humphrey says the firm wants to get in earlier, writing smaller cheques and even co-founding companies: Capital Brief