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👋 G’day

Today’s brief:

  • Harvey & Legora target Aussie mid-tiers

  • UK's sixth PM in a decade calls it quits

  • Allens investigation exposes KPMG

Here’s your latest, PB #{{join_number}} 👇

WORD ON THE STREET

War for mid-tiers

The top two legal AI rivals have their newest battleground: Aussie mid-tiers. Maddocks just rolled out Harvey firm-wide after a pilot where 70% of lawyers ran queries daily and 88% kept coming back. Meanwhile, Holding Redlich signed with Legora for its property and corporate teams. That follows HWLE rolling out Legora. Both platforms are officially pushing into mid-tier territory: Point Blank

  • More KPMG news — it never ends. The Big 4 firm tried to push out its own whistleblower within a month of his disclosure, secretly accessed his laptop three times, and ran investigations that never once interviewed him. Allens also confirmed KPMG partners secretly accessed full EY and PwC tender docs for the Lendlease audit, including rival pricing and tech strategies, well beyond what chairman Martin Sheppard admitted to parliament: AFR

  • In-house lawyers are done pretending their external counsel are a pleasure to deal with. A new RollOnFriday survey found GCs fuming at partners who talk down to clients and ignore basic relationship-building. One GC says they get "shit-all perks" from firms. Another's nicknamed their partner "Mr Smug": Roll On Friday

PRACTICE POINTS

One word difference

⚖️ Discovery: Everyone's favourite topic, keyword searches in discovery, got a thorough workout in Quinlan v Shell Energy Operations. Cooper J in the Queensland Supreme Court dismissed the plaintiff's push to force Shell to re-run its disclosure searches. The dispute centred on whether searches linking keywords with "and" were adequate, or whether Shell should've used "or" instead. The court found Shell's conjunctive "and" searches were reasonable and proportionate under the Document Management Protocol, noting that switching to "or" would've generated up to 43,000 additional documents for review in a single category alone. DLA Piper acted for Shell.

⚖️ Regulatory: The ACCC is on a roll. Fresh off suing Grill'd for greenwashing, it's now cracked down on Doreen Egg. Doreen is a small Victorian producer that copped $39.6k in penalties after selling eggs labelled "free range" despite the hens never setting foot outside. Over 8,600 cartons were sold through wholesalers, small retailers and direct farm-gate sales. Doreen Egg also falsely displayed the Australian Eggs Ltd logo, implying a sponsorship that didn't exist. Under a court-enforceable undertaking, the company admitted to conduct likely contravening the Australian Consumer Law and committed to consumer notifications, compliance reviews and staff training: ACCC

⚖️ Privacy: The Australian Privacy Commissioner has found Optus breached APP 11.1 after 41,278 porting customers, who had requested unlisted numbers, remained published in the White Pages between 2015 and 2019. The Commissioner's investigation, which kicked off back in August 2021, found Optus knew about the risk throughout the entire period, knew it affected a not insignificant number of customers, but didn't take steps commensurate with that risk. Optus' resources were cited as reasons it should have fixed the problem sooner: OAIC

TALKING POINTS

Starmer out

Did you hear…

Keir Starmer is officially out, making him the sixth UK prime minister in a decade to do the Downing Street resignation walk. He lasted two years after a landslide win, then watched his numbers crater and got tangled up in the Peter Mandelson/Jeffrey Epstein mess. Andy Burnham is the frontrunner to replace him, with nominations opening 9 July: ABC

Also…

New polling from Capital Brief/DemosAU has Albo pulling just 21% support among women, down from 33% in October, with most of that drift going straight to One Nation. For a PM who loves mentioning that nearly half his caucus and over half his Senate team are women, that's unfortunate: Capital Brief

DEAL ROOM

Humm walks away

💳 Humm Group has pulled the plug on takeover talks with debt buyer Credit Corp, after Credit Corp slashed its bid well below its original 77-cent-per-share indicative offer following due diligence. Humm's IBC called the revised terms incapable of recommendation: Capital Brief

🛣️ Atlas Arteria is pulling out the stops to fend off IFM's $5.10-per-security takeover bid, entering exclusive asset sale talks with France's Eiffage to offload its German Warnow Tunnel and lifting its distributions target to 60 cents per security: Capital Brief

🤖 Sharon AI is cracking on with its ASX listing, with Macquarie Capital sending fund managers invitations for management meetings led by co-founder and CEO James Manning: AFR

SECTOR SNAPSHOT

Back to advice

DIGGERS

🚜 Mineral Resources is lining up COO Darren Killeen to replace scandal-plagued founder Chris Ellison, with the board preferring an internal successor given the "unique nature" of the business. Meanwhile, Gina Rinehart, alongside Chile's SQM and prospector Mark Creasy, has unveiled plans for the Andover lithium mine near Roebourne, targeting up to 1.1m tonnes of lithium concentrate annually over 30 years: The Australian

FIN

🏦 Less than eight years post-royal commission, ANZ, Westpac and NAB are quietly positioning for a return to financial advice, framing it as a client retention play rather than a product funnel. New ASIC chair Sarah Court has signalled the watchdog's ready to move on. Notably, CBA's Matt Comyn is staying quiet: Capital Brief

RETAIL + REAL ESTATE

🏠 David Jones has a new CEO, a new lender and a new strategy. Erica Berchtold, the retailer's first female chief, steps in alongside a $200m+ credit facility from Hilco Capital. She's scrapping her predecessor's "win at beauty" strategy, which had pushed DJ's to compete head-on with retailers like Mecca, in favour of fashion and digital luxury: AFR

TECH + STARTUPS

📱 WiseTech's board admitted it wasn't aware of the AFP investigation into Richard White until the press broke it, raising serious governance red flags. Investor HESTA, managing $104bn, isn't buying the board's response, demanding clarity on leadership and governance. White denies the human trafficking claims: The Australian, AFR, Bloomberg

P.S.

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