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👋 G’day

Today’s brief:

  • HWLE partner fined for rogue texts

  • G+T launches a new 40-lawyer team

  • Legora’s report reveals AI use in-house

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

WORD ON THE STREET

Partner’s texts exposed

A HWLE partner has copped a reprimand and $10k fine for texting his builder over 100 times with some unhinged messages. He called him “dodgy and useless,” threatened to “bite you hard,” bankrupt him, post defects on Instagram, and told him to “run and hide.” Some came from his work email, signature block included: Lawyers Weekly

  • Legora's ROI report has in-house teams flying. After using Legora, 97% respond to stakeholders faster, 90% ramp up on new matters quicker, and 57% caught a supplier issue they'd have otherwise missed. So, if clients are getting faster and more self-sufficient, should law firms be worried? Top firms are pivoting to strategy-based, high-judgement work AI can't touch: Point Blank

  • Gilbert + Tobin has launched a 40-plus lawyer squad to stop clients dealing with five different teams for one deal. Partners Stuart Cormack and Ben Cosentino co-lead the new Real Assets team, merging property, infrastructure, finance and regulatory work under one roof: Point Blank

PRACTICE POINTS

Adjudicator overstepped

⚖️ Construction: In Azure Project 19 v 5 Point Projects, the Queensland Supreme Court found an adjudicator committed jurisdictional error by dismissing the date of practical completion as ‘immaterial’ — a conclusion with no footing in the contract or either party's submissions. Kelly J confirmed adjudicators must base decisions solely on the matters listed in s 88(2) of the Building Industry Fairness Act: being the Act, the contract, the payment claim and schedule, the parties' submissions and any inspection undertaken by the adjudicator. The adjudicator need only genuinely engage with submissions, not resolve every issue. Here, the adjudicator invented a basis outside all of that. The Court severed the tainted portion, trimming the adjudicated amount by $130k: MinterEllison

⚖️ Corporate: Want to know how directors fared in 2025? Mallesons' new Oversight digest has crunched the year's cases, and it's a mixed bag for ASIC. In ASIC v Bekier, the Star's former CEO and CLRO were found to have breached their s 180 duties by hiding money laundering risks from the board, but all seven NEDs were cleared. ASIC also scored a win in ASIC v iSignthis — the former CEO was hit with a six-year ban and $1m fine for deliberate, prolonged ASX misrepresentations. But the regulator lost big in ASIC v Nuix and ASIC v TerraCom, with courts finding no misleading conduct in both cases: Mallesons

⚖️ AML/CTF: AUSTRAC has finalised its enforceable undertaking with Sportsbet after it completed a significant remediation program to uplift its AML/CTF systems, controls and governance. The undertaking, accepted in May 2024, followed AUSTRAC's concerns about Sportsbet's approach to risk assessment, customer monitoring and suspicious matter reporting. Sportsbet was required to uplift five key areas of its AML/CTF policies and processes, with an independent external auditor confirming all required remediation had been implemented and operationalised. AUSTRAC CEO Brendan Thomas made clear that the online gambling sector still remains squarely in the regulator's sights: AUSTRAC

TALKING POINTS

AI now mandatory

Did you hear…

UK lawyers now face being struck off for not using AI. The UK Jurisdiction Taskforce, chaired by Sir Geoffrey Vos, says skipping AI tools when a "reasonable lawyer" would've used them could count as negligence, comparing holdouts to radiologists ignoring cancer-detecting software: AFR

Also…

Australia just agreed to sell uranium to India for power generation, a landmark deal signed during Modi's Melbourne visit with Albanese. The uranium is for peaceful use, boosting India's non-fossil fuel capacity and giving its clean energy push "fresh momentum". BHP's Olympic Dam and Boss Energy's Honeymoon mine stand to benefit most from the deal: Bloomberg, AFR

DEAL ROOM

IPO return?

🏗️ FDC Consolidated just landed the year's biggest ASX debut, raising $400m at almost a $1bn valuation and popping 12.3% on listing day. MA Financial's Ricardo Cerqueira thinks it signals more floats are coming: Capital Brief

💊 Sigma Healthcare's billionaire founders are cashing in, with Chemist Warehouse brothers Sam and Jack Gance flagging plans to offload up to 20% of their near-$8bn combined stake once escrow lifts on 27 August: AFR

SECTOR SNAPSHOT

Always on time

DIGGERS

🚜 BHP has scored environmental approval for $1.3bn in early works, sulfide leaching and electricity upgrades, at Chile's Escondida mine — the first step in a $10bn spending plan over the next decade. BHP overtook Codelco as the world's biggest copper producer last year and wants to double global output by mid-2030, as supply tightens worldwide: Bloomberg

FIN

🏦 Stripe is quietly trialling its business banking product, Treasury, with a handful of Australian startup founders ahead of a full local launch later this year. The $230bn fintech wants to be the operating system for digital business, letting clients hold multiple currencies and stablecoins side by side. The move takes direct aim at Airwallex, Wise and the big four's business divisions: Capital Brief

RETAIL + REAL ESTATE

🏠 Qantas has flown from punctuality punching bag to world's most on-time airline in June, hitting 87.16%, up from 80.4% a year ago. The turnaround follows a $15bn fleet overhaul, AI-driven scheduling and two-door boarding, all under CEO Vanessa Hudson's push to fix the airline's reliability woes since 2023: AFR

TECH + STARTUPS

📱 OpenAI is turning ChatGPT into an office essential, merging its coding tool Codex into the desktop app and rolling out a Work setting that lets users edit computer files and operate autonomously in a browser. Meanwhile, Nvidia has tipped $721m into Firmus Technologies' $2.9bn raising, valuing the neocloud at $15.5bn ahead of its ASX listing: Business Insider, AFR

P.S.

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