👋 G’day
Today’s brief:
Allens partners unhappy with KPMG fallout
Three barristers rejected for silk 10 times
Judge blasts Lively's excessive costs
Here’s your latest, PB #{{join_number}} 👇
WORD ON THE STREET

Allens unrest

Apparently, Allens isn't a happy place right now. Partners aren't upset about the actual work done for KPMG, it's the combative way leadership handled the fallout. New boss Marc Kemp copped eye rolls for his parliamentary committee performance, while Ross Drinnan, the face of the response, is getting frozen out by his own colleagues: AFR
Blake Lively wanted US$8m in legal fees after beating Justin Baldoni's defamation suit. She walked away with just US$407k, with the judge slamming her "blunderbuss approach" to claiming lawyers' hours. Both camps are still calling it a win: BBC
Three NSW barristers have applied for silk 10 times each since 2016 and still haven't cracked it. Meanwhile just four chambers, including Banco and Eleven Wentworth, have hoovered up more than a quarter of all silks appointed. Persistence clearly isn't the winning formula: AFR
A Queensland court has knocked back media's bid to unmask "MM", a high-profile man linked to a Cairns extortion case. Justice James Henry ruled naming him would basically hand the alleged extortionist a win and cause more harm to the alleged victim: The Guardian
PRACTICE POINTS

Unpaid whistleblower?
⚖️ Employment: Volunteers take note: you might count as a 'whistleblower' under the Corporations Act, even without pay or a contract. In Wood v Royal Agricultural Society of NSW, a Boer goat exhibitor sued the RAS after it allegedly punished her for raising misconduct complaints. The RAS tried to strike her claim out, arguing she wasn't a 'supplier of services or goods'. Justice Needham disagreed. Her unpaid fundraising and volunteer 'Breed Captain' role were enough, and supply doesn't need to be ongoing or recent. One claim did fail though — an award she'd received was just passive recognition, not a supply: Clayton Utz
⚖️ Corporate/Privilege: A group of shareholders, dubbed the 'Oxford Consortium', tried to oust DRA Global's CEO by getting other shareholders to sign deeds promising to vote him out. DRA's lawyers accused them of breaching the 20% takeover threshold in s 606 of the Corporations Act, and the consortium got legal advice before withdrawing their notices. In Naude v DRA Australia (No 2), the ousted CEO tried to access that advice, arguing it furthered the illegal scheme, so privilege shouldn't apply. Jackson J disagreed, finding the advice came after the allegations landed and after the scheme's active steps had stopped — consistent with checking their legal exposure, not continuing the plan: Federal Court of Australia
⚖️ Regulatory: ASIC just won its first big test case on internal dispute resolution (IDR), the process licensees must follow when handling customer complaints under ASIC's RG 271 rules. In ASIC v Telstra Super, the Federal Court found Telstra Super breached those rules 204 times across 125 complaints, blowing the 45-day response deadline and sending vague "ongoing investigation" delay notices instead of explaining the actual hold-up. Its excuse, that COVID and complex cases justified the delays, didn't fly either, as it couldn't prove a real link between the two. The silver lining: the breaches weren't serious enough to also breach the broader "efficient, honest and fair" duty in s 912A: Mills Oakley
TOGETHER WITH ATTO

Turns out the humans behind legal AI have a bar tab.
Point Blank's networking night for Sydney's legal and legal tech crowd, sponsored by Atto. Drinks and nibbles on us!
Tuesday, 1 September | 6:00PM AEST | Sydney CBD
TALKING POINTS

Opt-in algorithms

Did you hear…
Plibersek wants reform requiring social media users to actively opt in to algorithmic feeds, not just opt out, after a young boy setting up social media gets fed "misogynistic, violent" content within 23 minutes. Hanson-Young and the Greens are onside too, tying it to a Digital Duty of Care that'll make platforms legally liable for what they push: Capital Brief
Also…
Voluntary assisted dying is now legal everywhere in Australia, after the NT finally passed its bill, decades after the Commonwealth overturned the Territory's original 1995 law. Patients need a prognosis under 12 months to qualify, and doctors still can't raise VAD themselves. Only the NT and SA still have that gag clause in place: ABC News
DEAL ROOM

Deal’s dead
💳 PayPal's shares cratered over 15% after Bloomberg reported Advent International and Stripe have walked from their takeover tilt. The pair had offered US$60.50 a share in July, valuing PayPal at roughly US$53bn: Bloomberg
⛏️ Bids are reportedly in for Rio Tinto's $300m Mt Cattlin lithium mine, with Develop Global, Delta Lithium and Core Lithium among the suitors circling. The WA spodumene operation's been in care and maintenance since 2025 thanks to weak prices: The Australian
🍼 Partners Group and Quadrant Private Equity are eyeing a merger of their childcare assets, Guardian and Affinity Education, as the sector's scandal-hit economics push PE owners toward scale: AFR
SECTOR SNAPSHOT

Carbon con


DIGGERS
🚜 Woodside claims it paid more than $5m toward a Texas carbon capture project that turned out to be a sham, with proponent Charles Fridge allegedly siphoning the funds to cover his divorce settlement and a Bahamas wedding to his new girlfriend. Woodside's now chasing Fridge personally for the debt: AFR

FIN
🏦 Bank of America has secured final court approval for its US$72.5m settlement with Epstein accusers, after a judge rejected claims by the accusers that the deal was too broad. It follows similar payouts from JPMorgan (US$290m) and Deutsche Bank (US$75m), all accused of turning a blind eye to Epstein's suspicious transactions: Reuters

RETAIL + REAL ESTATE
🏠 Australia Post boss Paul Graham says weekly letter deliveries and $4 stamps now look inevitable, after it posted a $108m annual loss once it excluded the benefit of one-off property sales. Letter volumes fell 14.7%, stamp prices are up 165% in a decade, and parcels revenue jumped to $8bn: AFR

TECH + STARTUPS
📱 OpenAI is ending its partnership with AI coding tool Cursor after SpaceX bought it, pointing to SpaceX's track record of breaching agreements. Meanwhile, Meta is on a PR blitz to defend its smart glasses after viral clips of covert, non-consensual recordings earned them the nickname "pervert glasses": Bloomberg, Business Insider
P.S.



