Flexibility now top lawyer priority

Appeal bench queries Lehrmann’s logic

Canva eclipses Telstra, Woodside and Rio

ASIC is turning up the heat on large proprietary companies after finding that over half of previously grandfathered entities failed to lodge financial reports in FY23 and FY24. These “grandfathered” entities were once exempt from public lodgement despite preparing audited accounts, but that relief ended in 2022. Now ASIC has launched a surveillance sweep through Q1 2026, warning it will deploy the full enforcement toolkit. Companies should get on the front foot, review obligations, and file before ASIC comes knocking. Auditors are under pressure as well to report suspected breaches: ASIC

When a company tips into liquidation, liquidators can claw back voidable transactions under the Corporations Act, with unfair preferences the most common target. Payments made to a creditor that put them ahead of others can be unwound if the company was insolvent at the time. Liquidators don’t need intent to defraud. Instead, they look at timing, solvency, and whether the creditor suspected distress, not intent to defraud. Trade creditors chasing overdue bills are often caught out. To reduce risk, creditors should avoid heavy-handed collection tactics, keep clean records, and watch for unusual payment patterns: Worrells

It’s no Taylor Swift album, but ASIC has recently dropped a new RG16 for external administrators and controllers, spelling out how to handle reports of possible offences and misconduct. The guide sets ASIC’s expectations for initial and supplementary statutory reports, how and when to lodge them, and what happens once they land on ASIC’s desk. Importantly, ASIC will also publish information about reports received, lifting transparency around external administrations: ASIC

Work/life balance is now the top reason lawyers would leave their job, according to the College of Law’s 2025 salary survey. 34% said it’d send them packing, while 29% are chasing a higher salary. And employers are listening — flexible work is the most common perk, with 74% of employers offering it: College of Law

HSF Kramer has launched a mentoring program for neurodivergent trainees, paralegals and associates in London and Brussels. Partnering with Nurturing Neurodivergence, the six-month scheme pairs juniors with senior mentors across professional services, aiming to build confidence and capitalise on strengths: Legal Cheek

Bruce Lehrmann’s defamation appeal is underway. His solicitor Zali Burrows admitted she was underprepared and told the Full Federal Court that Lehrmann had been “pretty much become the national joke, and… he’s probably Australia’s most hated man.” Burrows argued he was denied natural justice, but the bench pushed back, questioning “the logic of the submission”: Capital Brief

A WA lawyer has been referred to the Legal Practice Board after filing immigration court documents with four fake AI-generated case citations. Justice Arran Gerrard slammed the “inherent dangers” of relying solely on AI, warning it risks turning “a good case into rank incompetence.” It’s one of 20+ AI citation fails now on record in Aussie courts: The Guardian

The CPSU wants the Fair Work Commission to require bosses to apply a “bias in favour” of approving WFH requests under the clerks award, covering nearly 2m workers. Crucially, the proposal would also ban employers from cutting pay or conditions in exchange for WFH, after unions flagged a growing trend of workers taking a pay hit to stay remote: AFR

CEO’s sure do have it good. Bloomberg’s breakdown shows the median payout to ousted CEOs hit US$6.2m, while incoming chiefs pocketed a US$9m sign-on (and sometimes far more). Add in retention bonuses and lawyers at US$2k an hour, and things are stacking up. In fact, PwC says a forced exit costs each firm an average $1.8bn in lost shareholder value: Bloomberg

Talk about office refurbs…The RBA’s Sydney HQ refresh has spiralled to $1.2bn, nearly 5x the original $260m tab, after asbestos turned a facelift into a rebuild. The board, including Danny Gilbert and David Thodey, has okayed continuing but will reassess after asbestos is cleared in 2027. Completion is now tipped for 2031, well past Governor Michele Bullock’s term: Bloomberg

Canva: has launched an employee share sale valuing it at $65.3bn, up more than 30% from last year’s mark. With 240m users, $5.1bn annualised revenue, 27m paid seats and eight straight years of profit, the round was oversubscribed by backers like Fidelity and JP Morgan. The move sets the stage for a much-hyped IPO later this year: Capital Brief

Canaccord Genuity: is set to buy Wilsons Advisory outright. The deal follows Craigs Investment Partners’ exit from its 50% stake, and will merge the firms into a $41.8bn wealth manager. For Canaccord, already a mid-cap ECM powerhouse in Australia, the tie-up deepens its wealth reach while bolstering advisory firepower: AFR

La Trobe Financial: has lost suitor KKR, leaving Warburg Pincus as the frontrunner in Brookfield’s $3bn auction. Bain, CVC, CDPQ and Ontario Teachers are still circling, with final bids due September. Brookfield, which paid $1.5bn in 2022, is pushing its “fund manager not lender” pitch to justify top dollar: The Australian

Donald Trump has thrown his weight behind Rio Tinto and BHP’s $US1bn-a-year Resolution copper mine in Arizona. Rio’s Simon Trott and BHP’s Mike Henry met Trump in Washington, pitching copper as critical for jobs and supply chains, but the project faces fierce opposition from Native tribes and environmentalists: The Australian

A new Climate Energy Finance report says Australia’s biggest miners have pocketed $60bn in diesel tax subsidies over two decades. It’s urging Labor to cap claims at $50m, forcing giants like BHP and Rio to channel excess into green energy: AFR

CBA has reversed its plan to axe staff, conceding at the Fair Work Commission that its AI voicebot actually increased call volumes. CEO Matt Comyn apologised, inviting affected staff to stay or take redundancy. It’s the first bank to roll back AI-driven cuts, even as Comyn trumpets new OpenAI partnerships and deeper AI investment: AFR

Bendigo and Adelaide Bank has booked a $539.5m goodwill impairment and $9m in restructuring costs, tied to branch closures and 100+ job cuts. The non-cash charges will dent statutory profit, but the bank says it won’t affect the bank’s ability to pay a dividend. Bendigo says the writedown reflects “heightened global uncertainty”: Capital Brief

Dexus has swung to a $136m profit after last year’s $1.6bn loss, with CEO Ross Du Vernet declaring the office market has hit an “inflection point”. Its $50bn portfolio saw CBD office values edge up 0.4% in H2. But its funds management biz remains under strain over legal battles over stakes in Melbourne Airport and Macquarie Centre: AFR

Goodman Group is snapping up 196ha next to Western Sydney Airport for $575m, in what’s tipped as the logistics deal of the year. The Badgerys Creek site will become a 600,000sqm estate, cementing Goodman’s dominance as rivals like Mirvac, Charter Hall and super funds also pile into the Aerotropolis. With vacancies at just 2.1%, demand is primed to soar: The Australian

At this point, who hasn’t been hit by a cyber breach? TPG Telecom just fessed up to a cyber breach affecting 280,000 iiNet email accounts and 20,000 landline numbers, with usernames, addresses and even modem passwords also accessed. No banking details were taken, but TPG suspects ex-employee credentials leaked onto the dark web: AFR

Xero faces investor backlash over CEO Sukhinder Singh Cassidy’s $23.5m package, with ISS and Glass Lewis urging votes against tomorrow’s pay report. The board says US benchmarking is needed to attract talent, but proxy firms call it “excessive” and “problematic”, citing a $26.5m one-off equity grant. Shares closed at $170.30, just shy of the CEO’s option strike price: AFR