In oil & gas, farm-in and JV deals are great for spreading risk, but they only work if the rules are nailed down early. That means initial work programs or timelines, budget estimates and cost-sharing provisions, and concrete milestones. The structure matters too. An upfront transfer are good for farmees who need security for financing. A deferred model gives the farmer full control and ownership until the farmee’s work is done. Otherwise, option or staged models are useful if early exploration results are unknown. When it comes to JOAs, operator vs non-operator rights are crucial. The JOA should include a robust decision-making framework, deadlock provisions if decisions can't be resolved and a clear delineation of operator duties, including performance standards, reporting obligations and expenditure controls: HopgoodGanim

Clarke Energy tried to overturn an arbitral award in Qld’s Supreme Court, arguing it was denied natural justice. Clarke Energy said the arbitrator ignored a key requirement to assess out-of-time EOT claims “fairly and reasonably”. But the court wasn’t convinced. It found the issue wasn’t clearly raised in pleadings or arbitration notices, and was only properly raised in closing submission. The court held that to set aside an award, the injustice must be obvious, and able to be demonstrated without a detailed re-exam of the facts—a high bar Clarke didn’t meet: MinterEllison

The Federal Court found UK-based Jackson’s Art Supplies misled Aussie buyers into thinking it was tied to local brand Jacksons Drawing Supplies, thanks to its Aussie subdomain, Adelaide warehouse reference and phone number. While the court found misleading conduct and passing off, it refused broad injunctions due to delay. Lesson: act early—brand confusion waits for no one, and slow enforcement can cost you.

KPMG’s merger with ZICO Law has quietly fallen apart, with member firms in Malaysia and Indonesia exiting the alliance and others scaling back. Audit conflicts and KPMG Law’s weak brand recognition in Southeast Asia were dealbreakers. ZICO veteran Hanim Hamzah has now jumped ship to KWM: Asian Legal Business

King & Wood Mallesons has promoted 4 lawyers to partner across M&A and energy practices in Brisbane, Melbourne and Perth. The move reflects client demand for private capital expertise and energy transition projects. It brings KWM’s total new partners this year to 16, adding to earlier lateral hires in FIRB, debt capital markets, disputes and private capital: KWM

Sparke Helmore has nabbed Ben Burke as a partner in its Melbourne workplace team, adding serious clout to its WHS and employment practice. Formerly at Baker McKenzie, Burke brings coronial, asbestos and WHS litigation firepower and is well-known across sectors from defence to renewables. His hire continues Sparke’s national growth spree: Sparke Helmore

Under new family law reforms, pets are no longer treated as property in separations. Courts will now consider who fed, walked and cared for the animal, plus any history of cruelty or violence, before deciding custody. The change gives pets the status of ‘companion animals’, letting judges order who keeps them: The Daily Aus

Israel has intensified its assault on Iran, hitting the Quds Force command centre and even Iran’s state broadcaster, with explosions caught live on air. The strikes, now in their fourth day, have killed 224 in Iran and driven mass panic in Tehran. Netanyahu hinted Israel's offensive could topple Iran’s regime. No signs of de-escalation: AFR

Albo was stood up. Albanese’s long-awaited sit-down with Trump was scrapped last-minute, as the US President abruptly left the G7 amid Middle East chaos. The PM had pursued a ‘less is more’ Trump strategy, keeping his distance rather than rushing to the White House at Trump's beck and call. But with AUKUS on shaky ground and no Plan B, quiet diplomacy may no longer cut it: Capital Brief

Herbert Smith Freehills Kramer: is advising GemLife on its $750m IPO, which was more than 2x oversubscribed. Offshore and domestic investors piled in, drawn to the group’s 9,836-site pipeline and its $270m buyout of rival Aliria. The float values GemLife at $1.58bn, setting it up as the fourth-largest player in the land lease sector: AFR

Pact Group: has locked in a fresh $775m debt deal, replacing all existing facilities and pushing maturities out to 2028 and 2030. CEO Sanjay Dayal says the refi kills near-term risk and keeps growth plans ticking. Don’t expect big savings, though—FY26 finance costs won’t budge much despite the reshuffle.

Canva: is prepping a secondary share sale ahead of a likely IPO in 2026, letting early employees cash in. They’re aiming for a valuation above $US32bn, after last year’s $US1.6bn sell-down at $US26bn. It could be Canva’s last dance as a private company, with whispers of a US float circling for months: AFR

Booktopia’s: owner digiDirect will acquire Mwave after the gaming retailer went into voluntary admin on Friday. The buy marks digiDirect’s third deal in a year after snapping up Booktopia and James Bennett, pushing group turnover to $500m. Founder Shant Kradjian says Mwave adds scale in a booming gamer-driven category: ARN

Woodside’s North West Shelf extension has been hit with a second legal challenge, this time over WA’s approval. Activist group Friends of Australian Rock Art claims the state failed to assess the climate and cultural impacts, including damage to sacred Murujuga rock art. It follows a separate Federal Court challenge by Save Our Songlines founder Raelene Cooper: The Australian

BHP and Rio Tinto’s $3bn Arizona copper JV just scored environmental approval from the US Dept of Agriculture, reigniting their stalled Resolution Copper mega-mine. Touted as North America’s largest future copper mine, it’s been 30 years in the making: AFR

Dubber’s suing its ex-auditors BDO for $26.6m—the same amount that went missing from company accounts last year. The claim says BDO failed to detect the misappropriation across three years of audits and engaged in misleading conduct. BDO denies liability, but investors rallied—shares jumped 14.7%: Capital Brief

The Future Fund just scored approval to invest directly in Aussie infrastructure and property for the first time. Chair Greg Combet says going internal gives the fund more flexibility, cost control and access to local priorities—like energy, housing and defence—as US volatility and Trump-era risks mount: Investment Magazine

EY's still scrambling to find a buyer for collapsed airline Rex, forcing the government to kick in another $30m and extend its administration to year-end. No binding bids yet, despite a year-long process. A frustrated Renaissance Partners says it’s ready to go, but EY’s delays are racking up admin fees—over $14m and counting: AFR

Cbus Property’s in talks to bail out Sydney’s troubled $1.8bn Halo tower, which had stalled under $500m+ in private credit debt. The timber-heavy skyscraper near the new metro station could be a landmark win if Cbus clinches the deal, unlocking rare new CBD office supply as blue-chip tenants race for premium space: AFR

This startup is fighting fires with AI — that’s simply epic. Pano AI just raised $68m to scale its fire detection platform, which uses AI and thermal cameras to spot smoke up to 20km away, even at night. Co-founded by ex-Sydney local Arvind Satyam, the startup pairs AI with human analysts to avoid false alarms. It’s already booked $150m+ in contracts and protects over 2m hectares in Aus. That’s a fireproof plan that’s bound to scale: The Australian

Meta is scaling its ads + paid subscription offerings for WhatsApp. The social media leader confirmed that they’ll start appearing in the app’s Status tab, not chats or groups. It’s part of a new push to monetise via paid channels and promos. A big shift for a platform that built its brand on privacy and ad-free messaging, even as it stays end-to-end encrypted: Capital Brief