Lawyers are quietly booting AI notetakers from client meetings before they even start. The added bot is making lawyers nervous with every offhand comment becomes discoverable, and sharing a meeting with an AI bot could waive privilege. The NSW Supreme Court has flagged that a “public Gen AI chatbot” might “lack adequate safeguards, to preserve … confidentiality, privacy or legal professional privilege”. Maybe don't let the robot take minutes just yet: AFR

⚖️ M&A/Contract: The NSW Court of Appeal has confirmed in Tin-Tagel Majikk Pty Ltd v Hockey that a purchaser who proceeds to completion under a share sale agreement automatically waives unsatisfied conditions precedent, even without a written waiver. The Folleys bought a Ray White franchise for $2.3m, completed despite the vendors failing to discharge a PPSR charge, then tried to argue the breach entitled them to relief. No dice. The Folleys also tried arguing their solicitor's knowledge of the PPSR charge shouldn't be imputed to them because the solicitor failed to flag it. That didn't fly either: a solicitor's knowledge obtained in the course of a transaction is imputed to the client, whether or not the solicitor passed it on.

⚖️ AI: Agentic AI can browse, decide, transact and escalate, all without a human in the loop. And as human involvement decreases, the question becomes: who is legally responsible when an agent makes a mistake? The developer, deployer or end user? Australian frameworks are built around human agency: legal persons are responsible for their own acts, and principals are bound by agents acting within their authority. When agentic AI strays outside of authority, liability will largely be carved up by contract between those three players. Before deploying agentic AI, organisations should be asking who's ultimately bound by the agent's actions and how that's dealt with across the contractual chain: Lander & Rogers

⚖️ Super: Federal Treasury is consulting on reforms to the annual superannuation performance test, building on the March 2024 round. Adjusting benchmarks for emerging and alternative assets, incorporating risk-adjusted returns, regular benchmark reviews, and extending the test to more products are on the table. The reforms are pitched as member-protective, but for funds with heavy allocations to unlisted assets, how those assets get benchmarked will matter enormously. Submissions close 19 June 2026.

Michael Burry, the bloke who called the 2008 crash, reckons the Nasdaq 100 is priced like it's 1999 again. He's clocked it trading at 43 times earnings, says Wall Street is overstating tech earnings by over 50%, and points to chip stocks jumping nearly 70% since March as the tell. He's not shorting it, but he is quietly trimming. Make of that what you will: AFR

The NDIS is staring down a $37.8bn cut, the single biggest savings measure in Tuesday's budget and well over half the government's total $63.8bn in savings by 2029-30. The legislation's being fast-tracked to parliament this week and must pass by June 30 to hit the target of $15bn a year in savings by 2030. Six Senate sitting days: AFR

🎙️ Sony Music Publishing is dropping ~$4bn to acquire Recognition Music Group's entire catalogue from Blackstone, adding 45,000-plus songs including Beyoncé, Fleetwood Mac and Rihanna: Reuters

🐂 Paraway Pastoral's $3bn sale is heating up, with management carting serious bidders around its 28 properties as Macquarie and Dutch fund APG sift through first-round offers: The Australian