The Federal Court found that Qteq and its exec chair Simon Ashton guilty of cartel conduct off the back of proceedings brought by the ACCC. The Court found that the Queensland-based company tried to induce rivals into cartel arrangements, including by cutting off the supply of services to big oil and gas players. The ACCC says the attempted collusion, spanning 2017–2019, was a serious hit to competition. Penalties are still to come: Decision

This one’s niche, but we’ll give it a go – successor trustees are off the hook, says the High Court. A new trustee doesn’t owe fiduciary duties to a former trustee to preserve their right to indemnity from the assets of the trust. In a 4:3 split, the Court found a former trustee’s right of indemnity is an equitable charge, not a fiduciary relationship – are you still with us? That means no Barnes v Addy claim if the successor moves funds. Protective measures are best, but carefully consider if you can lean on freezing orders or injunctive relief: Corrs

The ACCC’s dropped a surcharging guide. If you’re passing on card surcharges, they can’t exceed your processing cost. For example, if it costs you 1% to take Visa credit, that’s the max you can pass on. The rules apply across Eftpos, MasterCard and Visa, whether debit, credit or prepaid: ACCC

Yesterday, we covered the most sought after law firms according to the Legal Firm of Choice Survey. The Survey is back again, this time focusing on the firms young lawyers want to work at. Allens snatched the No. 1 spot, with Minters and CU coming second and third. When picking where to work, lawyers in the 18-39 age bracket value communication, WFH flexibility and DEI: Lawyers Weekly

Former High Court chief justice Robert French has stepped down from Hong Kong’s top court, four months after saying he’d stay. French called the role of foreign judges “increasingly anachronistic and arguably cosmetic” but insisted he still respects the court’s integrity. Fellow Aussies judges Gummow, Keane and Allsop remain in place: Capital Brief

A new Thomson Reuters report says AI adoption in the UK legal sector has nearly doubled—up from 14% to 26% in a year. But despite the hype, most firms aren’t cutting fees. In fact, 53% expect rates to stay the same, 20% expect rates to rise, while only 7% predict a drop: Thomson Reuters

As Deloitte cuts staff and partners, it’s also making moves in Canberra. Ex-Coalition MP and former Speaker Tony Smith introduced himself as a Deloitte “adviser” at a recent Liberal Party fundraiser—despite the firm claiming it doesn’t use lobbyists: AFR

In a controversial decision, the UK Supreme Court has ruled that under equality law, a “woman” means biological female—clearing the way for single-sex sports to lawfully exclude trans women. Governing bodies aren’t making immediate changes but many, including UK Sport, Sport England and the FA, are now reviewing their policies: NY Times

The International Monetary Fund slashed its US growth forecast for 2025 from 2.7% to 1.8%, blaming Trump’s trade war. The tariff tussle is also rattling China, India and the G7. US recession risk has bolted to nearly 40% as the IMF warned of dire economic consequences if the trade fires up: The Economist

Lawyers are still punching above their weight in politics. They make up just 0.5% of voters—but claim 20% of federal MPs and 40% of Labor’s cabinet. Their numbers dipped post-2013 but bounced back after the 2022 election, driven by Labor’s lawyer-heavy intake: Capital Brief

Speaking of voters, young voters hold the cards for the upcoming election. For the first time, under-40s will outnumber over-60s at the polls on May 3—but most young voters aren’t sold on either Albanese or Dutton. Cost of living and job insecurity are front of mind. Dutton edged out a narrow debate win as early voting kicks off, but it’s still anyone’s game: Bloomberg

Steinepreis Paganin: has claimed the top spot for M&A deal volume in metals and mining for Q1 2025, advising on three deals. Clayton Utz and KWM led by value, each advising on a single $5.3bn transaction, which alone was enough to push them to the top: Global Data

Chagee: has raised $410m in a New York IPO—the biggest US listing by a Chinese consumer company since 2021. The Chinese bubble tea brand was repped by Davis Polk, KWM and Maples, while Cleary and Fangda acted for the underwriters: law.com

Goldman Sachs Aus: posted a $4.4m profit last year—down from $6.3m—despite topping the local M&A league table with 32 deals worth $US40bn, including the $24bn AirTrunk sale. A $3.4m compensation-related costs and ECM team churn weighed on results, though hiring continues as the bank eyes the Virgin Australia IPO and fresh PE mandates: The Australian

Bega Cheese: has been left out of the bidding process for Fonterra’s $4bn Mainland Group spin-off amid a legal dispute. Fonterra distributes and manufactures under the Bega Cheese brand. Bega reckons any spin-off would trigger a right to terminate. And so the Andrew Forrest-backed Bega has been left out to dry: AFR

Capricorn Metals has stood down CEO Paul Criddle after he was charged with aggravated assault, with a trial set for November. Criddle pleaded not guilty, but shareholders were only told a week after his court appearance… AFR

Santos has cleared the final hurdle for its $5.8bn Barossa gas project, securing approval for its Timor Sea pipeline after defeating a high-profile legal challenge from environmentalists. The pipeline will supply Darwin LNG and support 350 long-term jobs. First gas is expected by Q3, with the project now 95% complete and on track despite the costly court battle: The Australian

Fintech WeMoney has raised $12m at a $100m valuation to fund AI-powered lending tools and offshore expansion, eyeing an ASX float within three years. Backed by VGW’s Laurence Escalante and Mastercard, the Aussie startup has Afterpay-esque ambitions to scale fast: AFR

Barclays has landed a deal with Brookfield to offload its underperforming payments business, hammered by competition from Stripe and Adyen. Brookfield will inject expertise (and capital) to help turn things around, with an option to take a 70% stake after 3 years. It’s part of Barclays’ plan to unlock value after a £300m writedown: FinExtra

Industrial real estate remains the favoured sector for Aussie and global investors, with 42% of Aussie family offices backing industrial, well ahead of data centres and infrastructure: Commo

Mars Wrigley’s Aussie boss says sky-high cocoa prices and stretched household budgets are biting into Easter chocolate sales, with $17 bunnies proving a hard sell. Expect heavy discounting as supermarkets clear stock. Great reason to stock up your choccy stash if you ask us: The Australian

At just 24, Aussie Max Marchione’s health tech start-up Superpower has hit a $300m valuation after closing a $47m Series A. The US-based firm offers an AI-powered “super-app” for personalised healthcare and longevity tracking, tapping Silicon Valley’s obsession with biohacking. Backers include Forerunner Ventures, the Winklevoss twins, Logan Paul and NBA star Giannis Antetokounmpo. This is how he did it: AFR

Bupa has made its first moves from its $20m VC fund, backing four Aussie health start-ups focused on preventative healthcare and genetic testing. The insurer is eyeing innovative healthcare models like at-home monitoring and rehab as private health faces rising costs: The Australian