Kirkland, Latham, Gibson Dunn, Paul Weiss and a handful of private capital powerhouses are growing at 20%+, while newly merged firms quietly struggle to match that pace. Three major combinations have already closed in 2026, including Ashurst/Perkins Coie and Hogan Lovells/Cadwalader, all with "overwhelming" partner support. Every firm calls it a choice, not a survival move. But if you're not one of the elite, merging may be the only way to stay competitive: Law.com

⚖️ AI/Litigation: Chief Justice Mortimer issued the Federal Court's long-awaited GPN-AI practice note, taking a more permissive approach than its state counterparts. Unlike NSW, which largely bars generative AI from affidavits and witness statements, the Federal Court permits it across pleadings, submissions and evidentiary materials, provided use is disclosed and the document still reflects the witness's own recollection and knowledge. Lawyers must verify that AI-assisted filings don't contain hallucinated citations or fictitious authorities. Two practitioners have already been referred to disciplinary bodies for exactly that. Then there’s confidentiality — users should also avoid feeding suppressed, privileged or confidential material into publicly accessible AI tools: Federal Court

⚖️ Corporate/Climate: Solicitor-General Ruth Higgins has co-authored a new legal opinion on the International Court of Justice's ruling last year. She says that the ruling, which found that national governments are obliged to protect the climate system from greenhouse gas emissions, is already fuelling Australian litigation against fossil fuel projects. At least three civil actions have been launched since the ruling, including against Woodside's North West Shelf extension. Directors of carbon-intensive companies who fail to properly analyse or disclose the heightened regulatory and legal uncertainty risk breaching their duties and facing shareholder or ASIC action: AFR

⚖️ IP: Disney secured summary judgment in the Queensland District Court against a self-published author who alleged Indiana Jones and the Dial of Destiny infringed her novel The Michelangelo Dilemma. Both works involve time travel and ancient history, but the Court found no objective similarity at the level of expression because the time travel mechanisms differed, the characters shared nothing, and there was no common dialogue. The reminder for IP practitioners is that copyright protects expression, not ideas, and cross-medium infringement claims require a qualitative, holistic comparison of plot structure, character, incidents and themes, not just thematic overlap: HWLE

Ben Roberts-Smith fronted the Gold Coast media on Sunday, denying all five war crime murder charges and vowing to fight it out at trial. "I have never run from a fight in my life. I will never give up." The Victoria Cross recipient faces five charges of war crime murder, with prosecutors alleging he killed or ordered the execution of unarmed Afghan civilians in 2009 and 2012. The prosecution has three fellow soldiers who have allegedly admitted their own involvement in the killings and given written accounts implicating him as their superior: ABC News, The Guardian

The USS Spruance just seized a 900-foot Iranian cargo ship in the Gulf of Oman after punching a hole in its engine room, with US Marines now holding the Touska under Treasury sanctions for "prior history of illegal activity." Iran knocked back a second round of peace talks, the Strait of Hormuz is still closed after shots fired at two Indian-flagged vessels, and Trump's threatening to flatten every power plant and bridge in the country. And shock, oil prices aren't happy: Capital Brief

📊 Gilbert + Tobin has dropped its Takeovers and Schemes Review 2026, dissecting 42 ASX-listed deals above $50m from last year. Private capital featured in 29% of deals by volume, and foreign bidders drove over half. The firm's verdict for 2026: capital's available, but regulatory complexity and valuation discipline will separate deals that get done from those that don't: G+T

⛏️ Gilbert + Tobin has advised Yancoal Australia on its US$2.4bn (A$3.35bn) acquisition of an 80% stake in Queensland's Kestrel coking coal mine, with partners Costas Condoleon, Mark McAleer and Kevin Ko leading the team. Mallesons acted for vendors EMR Capital and Adaro Capital, with partners Paul Schroder and Mark Vanderneut on point: Point Blank

💾 Mallesons advised NextDC on a $1bn wholesale hybrid securities offer, backed by a $1bn binding commitment from Québec's La Caisse. The 100-year subordinated notes carry a five-year non-call, giving NextDC long-duration capital to keep building out its 17-facility platform across Australia and Asia: Point Blank