Mallesons has named Band 1 private equity partner Mark McNamara as its next Chair, taking over from David Friedlander on 30 June. McNamara has led the firm's Private Capital practice since 2012, with a client roster spanning Blackstone, KKR and EQT. Friedlander, who steered the firm through its split from King & Wood, isn't going far, staying on as an M&A partner: Point Blank

⚖️ Copyright: The High Court is hearing an appeal that could reshape copyright law for journalists and content creators. Farm Transparency International installed hidden cameras at Game Meats Company's halal abattoir in rural Victoria in early 2024, filming goats being slaughtered. Both the trial court and the Full Federal Court found that copyright vested in GMC, not FTI, and that the footage was held on constructive trust, with the footage ordered destroyed and $130k in damages awarded. The core question is whether trespass can displace the general rule that copyright belongs to the maker. The Human Rights Law Centre and Alliance for Journalists' Freedom warn that the decision could chill whistleblowing and investigative journalism: Capital Brief

⚖️ Regulatory/AI: APRA has issued its first AI-specific expectations letter to regulated entities. The April 2026 letter, drawn from targeted engagement with large banks, insurers and super trustees, moves well beyond the principle-based framework to set out specific, testable expectations across four areas: cyber security, governance, supply chain risk, and assurance. For example, APRA says boards should maintain sufficient AI literacy to provide effective challenge, not just nod along to vendor presentations. Entities must also map their full AI supply chain, including third and fourth-party dependencies, and have credible exit or substitution arrangements in place: Clayton Utz

⚖️ Finance: The NSW Supreme Court has upheld a 10% default interest clause in a non-bank construction loan, rejecting the borrower's argument that it was an unenforceable penalty. The key was the lender's contemporaneous documentation of its rationale — an investment recommendation paper prepared before showed how the default rate protected the fund's targeted 20% internal rate of return across various default scenarios. The Court also noted the clause applied only to maturity default, not all defaults, making it harder to characterise as punitive. Lenders, reminder to document your rationale at the time of writing the loan: Corrs Chambers Westgarth

While the RBA was taking part in its favourite activity of hiking the cash rate, the world's top celebrities gathered at the Met Gala for fashion's biggest night, themed “Fashion is Art”. Beyoncé returned after a decade in a crystal skeleton gown, Margot Robbie rocked up in a Chanel piece that took 761 hours to make, and Hugh Jackman made his Met debut. Then there was Jeff Bezos, crashing the night as sponsor with a reported $US10m (A$14m) donation, while protesters held "TAX THE RICH" signs outside: ABC News, Business Insider, AFR

Victoria's set to become the first state in the country to allow sexual assault victim-survivors to pre-record their evidence, sparing them from cross-examination in front of a jury and the accused. AG Sonya Kilkenny backed the push after an open letter led by MP Georgie Purcell and signed by Brittany Higgins, among others. The Opposition is on board too: TDA

🏗️ Mirvac CEO Campbell Hanan has flagged consolidation plays in the fragmented build-to-rent sector, with Oxford Properties' Indi portfolio, valued at around $1.5bn across three Sydney and Melbourne assets, looming as a potential target: The Australian

📰 James Murdoch is in advanced talks to acquire New York Magazine and Vox Media's podcast division, including cult business show Pivot, via his investment vehicle Lupa Systems: FT