Our highest court is in the mood for reform. The High Court, led by Chief Justice Gageler, has overturned NSW v Lepore, making it easier to sue institutions for historical abuse. The judgment ran 545 paragraphs across 139 pages, the longest of the Gageler court. It cements this bench as the most reform-minded since Mason. With just 30 months until Gageler’s retirement, and major implied freedom cases ahead, this bench may only be warming up: Capital Brief

⚖️ Contract: In Thousand Hills v LBA Capital, the Vic Court of Appeal has confirmed that a blunt email can amount to repudiation. After disputes over NDIS-compliant redesigns, the purchaser emailed saying it was winding down and would not be able to complete, proposing the parties rescind and deal with the deposit. The Court found the plain, objective meaning of the email was a withdrawal from the contract, regardless of subjective intent. Ongoing discussions about substitute projects didn’t save it. No agreement was reached, and the repudiation was never withdrawn. The developer’s own willingness or capacity to complete was irrelevant.

⚖️ Corporate: The Takeovers Panel has declared unacceptable circumstances in relation to Identitii Limited’s non-renounceable rights issue, after concerns it could hand control to a major shareholder via an underwritten shortfall facility. The Panel found the structure risked shifting control in a way inconsistent with an efficient, competitive and informed market.

⚖️ Admin review: The Federal Court quashed a decision, finding the Administrative Review Tribunal was vitiated by reasonable apprehended bias. The Tribunal had affirmed cancellation of a New Zealand citizen’s visa under s 501(2) of the Migration Act. But the Court found the Senior Member’s conduct, including hostile cross-examination, warnings about false evidence and a “scathing” attack on the applicant’s lawyers, could lead a fair-minded observer to apprehend a lack of impartiality. Applying Ebner, the Court issued writs of certiorari and mandamus, sending the matter back to be determined according to law.

Angus Taylor has ousted Sussan Ley to become Liberal leader, winning the spill 34–17 after the motion itself passed 33–17. The result overturns Ley’s narrow 29–25 post-election win and ends her leadership after just 276 days. In the deputy contest, Jane Hume defeated Ted O’Brien, Dan Tehan and Melissa Price to become the first senator elected as Liberal deputy leader. Taylor and Hume will now face the music (the media) this morning: AFR, Capital Brief

Thought of buying a slice in a law firm? Well, now’s your chance. New York-based Cohen & Gresser has tapped bankers to sell a stake. The white collar crim firm (that defends the likes of Sam Bankman-Fried and Ghislaine Maxwell), is exploring a minority stake sale via a management services organisation (MSO) — a fancy structure that splits the firm in two to sidestep US ethics rules banning non-lawyer ownership. The MSO houses tech, brand and back-office assets, selling services back to the law firm entity. PE are betting many big firms will follow suit: FT

⛏️ Anglo American’s $5bn-plus Queensland coal sale is back on, with bids due end-of-month. Stanmore Coal and Yancoal are tipped as frontrunners after missing out last time. Meanwhile, market chatter points to a potential Vault Minerals / Genesis Minerals scrip merger, with Leonora synergies in focus. Gold M&A is cooling, but scrip deals aren’t off the table: The Australian

🏥 The ACCC has cleared Ramsay Health Care’s $251m acquisition of National Capital Private Hospital, removing the final regulatory hurdle. Ramsay struck the deal in December with the appointed receivers and will fund it from existing debt facilities. Completion is expected in Q1 FY27: ASX