PRACTICE POINTS

Notice failures sink claim

• The Federal Court handed Rimfire Energy a win, awarding $1.4m in liquidated damages after delays at two generator projects (a solar farm and gas plant). The owners blamed grid connection issues, but their extension of time claims flopped—they didn’t comply with strict notice requirements in the PPAs. The killer? The notices failed to explain why the delays weren’t caused by the owners or their EPC contractor, as required under the contract. Justice O’Callaghan didn’t mince words: even the “strongest case imaginable” fails if the notice isn’t right or on time: Allens

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• ASX has launched a new close review procedure targeting listed entities with serious and repeated disclosure breaches. Under the six-month program, companies flagged by ASX will have their market announcements pre-vetted by ASX Compliance before release, delaying publication and requiring trading halts for sensitive updates. Entities will be privately warned first and given a chance to respond, but if imposed, ASX will publicly announce the close review period. The aim? Lift disclosure standards or face removal from the official list after 12 months. The move comes as ASX warns it won’t hesitate to suspend trading if issues aren't fixed fast: ASX

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• Shake your TikTok hips no longer. ASIC’s coming for unlicensed finfluencers, issuing warning notices to 18 Aussies in a global crackdown with regulators from the UK, Canada, UAE and more. The targets are self-declared “trading gurus” spruiking high-risk products like CFDs without a licence. ASIC says finfluencers are still misleading young investors with glitzy posts, despite clear rules and earlier guidance. Time to find a new revenue source: ASIC

WORD ON THE STREET

Clifford Chance taps CU, Corrs

• Clifford Chance is boosting its Aussie bench with Liz Humphry and Brett Cohen joining as corporate partners in Perth from Clayton Utz. Brad Woodhouse is also joining as a disputes partner in Sydney from Corrs. The hires strengthen the firm’s energy, resources and litigation capability: Law.com

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• Vic Police has closed its investigation into the Slater & Gordon rogue email saga, finding no evidence of criminal offences. The leak, which exposed pay and performance data of 900+ staff, was traced internally to a former employee, but police say it didn’t meet the criminal threshold. Slaters still faces fallout, including ongoing lawsuits from two ex-HR heads: AFR

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• PwC is doubling its US advisory arms from 4 to 8 and hiring thousands, weeks after slashing 1,500 jobs. Rough for those who were cut. Advisory’s still its biggest earner, and now the goal is to sharpen sector focus and boost consulting muscle in areas like e-comm: Wall St Journal

TALKING POINTS

Aussies doubt rule of law

• A new Rule of Law survey shows only 47% of Australians believe the legal system treats everyone equally, with 64% saying some groups get special treatment. In Victoria, more people think the system is unfair than fair. And nearly 1 in 4 say judges let personal views influence decisions. Faith in the “fair go” ideal is fading fast: The Australian

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• Trump’s team is reviewing AUKUS — the $368bn deal to deliver US and UK nuclear-powered submarines to Australia. The Pentagon says it’s checking the pact fits “America First” goals, but the move has sparked fears the US could walk. If that happens, Australia’s left with no subs, no refund, and a massive capability gap: ABC

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• An Air India Boeing 787 has crashed after take-off in Ahmedabad, with Indian authorities saying all 242 on board are likely dead. The jet, bound for London, exploded on impact near a residential area. It’s the first fatal crash involving a Dreamliner, and Boeing shares dropped 7.8% as scrutiny on its safety record deepens: Capital Brief

THE TREASURY

DEAL ROOM

Ashurst, KWM lead $14bn deal

• Ashurst and KWM: are front and centre on the $14bn Brickworks–Soul Patts merger, birthing new ASX-listed entity TopCo. The deal ends a decades-long cross-shareholding, backed by a $550m raise. Ashurst advised Soul Patts, while KWM guided Brickworks through two inter-conditional schemes: Australasia Lawyer

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• Perpetual’s: wealth arm is down to two bidders: Bain Capital and Oaktree, with TA Associates now out. Bain’s surprise entry is gaining steam, while Barrenjoey runs the sale. The unit, tipped to fetch $500m–$1bn: The Australian

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• GemLife: has finalised its $750m IPO, set to list on July 3 at a $1.58bn valuation. Shares are priced at $4.16, or 15x FY26 earnings, with $725m already snapped up by cornerstone funds. The funds will cut debt and fund its new Aliria over-50s portfolio: The Australian

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• Brookfield Infrastructure: has offloaded a 23.2% stake in Dalrymple Bay Infrastructure for $428m. It still holds 26.25%, remaining DBI’s largest shareholder. The selldown boosts free float and may fast-track ASX 200 inclusion, it claims. Brookfield insists it’s still backing the biz—and has no inside info: Capital Brief

SECTOR SPECIFIC

BlackRock $400bn pivot

🚜 DIGGERS

• NSW is in talks to rescue aluminium giant Tomago, which chews up 10% of the state’s electricity and makes a quarter of Australia’s aluminium. A shutdown would gut local manufacturing and test Labor’s “made in Australia” rhetoric. Options on the table? Energy price relief or transition funding to keep this industrial cornerstone alive: The Australian

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• Rio Tinto’s dropping $8.5m into ore-sorting tech at its Lac Tio ilmenite mine in Canada, aiming to boost critical mineral yields and cut emissions. If it works, it’ll mean less waste, cheaper hauls, and could unlock previously unviable parts of the deposit. A $2.5m kick-in from Quebec sweetens the deal. Watch for wider rollout if the demo sticks: Australian Mining

🏦 FIN

• BlackRock’s gunning for US$400bn in private capital by 2030, as it looks to double its market value. It’s part of Larry Fink’s push into private markets. With 30% of revenue expected from private investment and tech biz, BlackRock moves to compete with the giants of the alt asset world, Blackstone, Apollo and KKR: Financial Times

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• ASIC has taken aim at private credit, with its Chair Joe Longo saying he’s not anti-private markets, but he’s worried some funds are inflating valuations and charging fees on dud loans. The regulator’s sharpening its focus on transparency, valuations, conflicts and complaints in private markets and super. No new rules just yet, but Longo’s message is clear: get your house in order or expect regulatory heat: InvestmentMagazine

🏠 RETAIL & REAL ESTATE

• Air New Zealand’s rolling out 30,000 new US seats and retrofitting seven Boeing planes in a direct strike on Qantas’ grip on premium business flyers. Its new biz class cabins aim to reverse years of customer drift, but with 18% of its fleet grounded and profit down, it’s a bold move at a shaky time: AFR

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• NEXTDC’s $2bn data centre at Fishermans Bend just got a vote of confidence from the Victorian government as an “AI Factory”, as it races to catch up to NSW. Backed by affordable land and a future-facing pitch to defence and AI clients, the site could triple rack power density and anchor Melbourne’s bid to become Australia’s Silicon Valley 2.0. Its shares fell 0.7% on the news: Capital Brief

📱 TECH & STARTUPS

• Aussie satellite company takes on Musk’s Starlink. Macquarie- and Aware Super-backed Vocus is partnering with Canada’s Telesat to roll out a rival “lightspeed” satellite network in Australia, challenging Elon Musk’s Starlink. With a NSW landing station and “direct satellite-to-satellite” tech, the $5.25bn TPG fibre buyer is pitching secure, low-latency comms for defence and remote ops: The Australian

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• Aussie startup Kapture wraps up breakthrough trial with Horizon Power, retrofitting diesel generators to capture up to 80% of CO₂. And that captured carbon is repurposed into concrete. The tech met all performance benchmarks and could help decarbonise WA’s remote power grids, without scrapping existing gear. Real-world trials now pave the way for scale-up: SmartCompany