Judge's corruption

👋 G’day

Today’s brief:

• Macquarie Uni faces backlash for making students do a “privilege walk.”

• ATO rules an employee working in Dubai for 5 years must pay Aussie tax.

• Judge presiding over Lehrmann’s trial committed “serious corrupt conduct,” a Commission finds.

Here’s what you need to know 👇

PRACTICE POINTS

Labor takes on Big Tech

• Labor is proposing new digital competition rules that aim to curb anti-competitive behaviour stopping tech giants from prioritising their own services over competitors in digital ads and app stores. The plan follows Europe and the UK's Digital Markets Act and Digital Services Act, which have already led to Apple facing fines after the company failed to allow app developers to direct users to cheaper deals outside its app store. But Amazon is pushing back, warning the ex-ante framework could stifle innovation and deter investment, arguing Australia is adopting untested overseas models that could hurt productivity and growth: Capital Brief

• The ASX recommends that listed entities have a majority of independent directors and three-member audit and risk committee. And for good reason. Software giant WiseTech basically took no action against billionaire founder Richard White after finding he misled the board about workplace relationships. And now major super funds are pushing back, demanding genuinely independent directors: AFR

• Thinking of moving your practice overseas? Well, watch out for the ATO. In a recent decision, a Perth employee who worked in Dubai for five years was still an Australian-resident for tax purposes. Despite working overseas in the tax-free oasis, Mr Quy retained properties (a residential and two investment properties), bank accounts, and family ties in Perth, leading the tribunal to rule that these connections were objectively inconsistent with him abandoning his Australian residence.

WORD ON THE STREET

Judge’s ‘corrupt conduct’ exposed

• Judge committed “serious corrupt conduct.” Walter Sofronoff KC, the former Supreme Court justice overseeing the Bruce Lehrmann criminal trial inquiry, was found to have committed serious corrupt conduct by leaking his report to the ABC and The Australian before submitting it to the ACT government. The ACT Integrity Commission found his actions undermined the inquiry’s fairness, threatening public confidence: AFR

• Slater & Gordon CEO Dina Tutungi approved a $60K+ payout for convicted fraudster Bridgett Maddox, who was suspended over misallocating a $200 gift card. The five-month payout and NDA fuel speculation that her misconduct ran deeper. It also brings into question Slater’s response to the poison pen email sent to staff — the payout was mentioned in the email but Slaters previously dismissed its claims as “fiction”: AFR

• The NSW Law Society is facing criticism for advertising Dyson Heydon's new tome, "Heydon on Contract: Particular Contracts", in its March 3 edition of Monday Briefs. Despite Heydon’s past misconduct and sexual harassment findings, the ad was published through the society’s usual approval process, prompting a review of its advertising policies, a spokesperson said: Lawyers Weekly

TALKING POINTS

‘Privilege walk’ backlash

• Macquarie law students are being graded on their Acknowledgment of Country. In the Age and the Law course, students must deliver an “exceptionally thoughtful” Acknowledgment of Country as part of their oral thesis presentations—or risk failing a key component. Underperformers have been made to do a “privilege walk” to better understand power and status. Convenor Holly Doel-Mackaway defends the assessment, while students say they feel forced to express beliefs they don’t hold to secure good grades: The Australian

• Canberra has become the first jurisdiction in Australia to enshrine a legal right to a healthy environment under the Human Rights Act 2004. The new law guarantees access to clean air, safe water, and sustainably produced food. It also empowers residents to participate in environmental decision-making and seek justice for environmental breaches: Australasian Lawyer

• The UWA Student Guild’s PROSH newspaper faces backlash over a front-page cartoon showing Elon Musk bending Donald Trump over a desk while Israeli PM Netanyahu—drawn with glowing red eyes—watches. Jewish leaders condemned it as playing into anti-Semitic tropes about Jewish power and money, depicting Netanyahu as a demonic puppet master controlling world leaders. Some Jewish students called it “deeply unsettling”, saying it normalises anti-Semitism. The Guild defended it as satire on American geopolitical issues but apologised for the “discomfort” caused: The Australian

• You thought being a lawyer was tough? Try being a billionaire… Mike Cannon-Brookes, Atlassian CEO and Australia’s fifth-richest person with a shy $13.2bn fortune is facing a "deep internal conflict" about embracing the flash billionaire lifestyle while maintaining his green thumb. A struggle not talked about enough, if you ask us: Bloomberg

TREASURY

DEAL ROOM

Record $3.2bn break fee

• Alphabet agrees to pay a record US$3.2bn (A$5bn) break fee (10% of deal value) if its $32bn Wiz takeover collapses—because FTC scrutiny isn’t going anywhere, even under Trump. With regulators still wary of Big Tech, Wiz pushed for insurance against Alphabet deal falling through. The deal lets Wiz operate independently, allowing it to continue business as usual even if it gets tied up in a lengthy antitrust case: Financial Times

• Sumitomo Mitsui Banking Corporation (SMBC) has sold its share of Healthscope's debt at 40¢ on the dollar after refusing to sign a standstill agreement with Brookfield. The debt was acquired by Deutsche Bank, with HMC Capital emerging as a potential bidder. HMC plans to bid for Healthscope, despite the company’s financial struggles and tight insurance payouts: AFR

• Shift4 Payments and Tyro Payments are both bidding for the New Zealand EFTPOS provider Smartpay, with Shift4 emerging as a strong contender. Tyro has offered NZ$1 per share, a 70% premium, but analysts suggest Shift4, a global payments consolidator, could outbid Tyro, given its stronger financial backing. The acquisition would help Tyro expand its presence in Australia and New Zealand’s payments market: The Australian

• Findi, the ASX-listed ATM operator, is raising $45m in capital to fund expenditure and restructure convertibles held by Indian investor Piramal Alternatives. The raise includes a $40m share placement and a $5m share purchase plan. Funds will help deploy 2,293 ATMs for the State Bank of India and pay a $17.2m termination coupon to Piramal: AFR

SECTOR SPECIFIC

Synchron unveils mind control tech

🚜 DIGGERS

• Coal giants Whitehaven, Peabody, and Ulan Coal are fighting a Fair Work Commission order forcing them into collective bargaining, arguing their mines are too different. Whitehaven says Narrabri’s drive-in, drive-out workforce needs higher pay, while Ulan’s Mudgee-based workers don’t. Meanwhile, Peabody’s Wambo mine has a shorter lifespan and lower productivity than the others: ABC

• Governance advisor ISS hopping on the anti-dual listing bandwagon, joined Glass Lewis in backing a review of Rio Tinto’s dual-company structure, despite Rio’s warning that ASX shares could drop 11% if unified. The BHP precedent is “difficult to dismiss”, ISS said, arguing unification could simplify operations and boost strategic flexibility by making it easier to acquire companies using scrip: AFR

🏦 FIN

• Westpac is dropping variable home loan rates by up to 35 basis points, matching ANZ’s lowest big-four rate at 5.84%. But there's a catch—it's only offered to new customers with a 30% deposit who apply online. Banks are fighting for customers amid a refinance war, with $206bn in loans refinanced in 2024: News.com.au

• JPMorgan is leading the IPO surge in 2025's first quarter, topping the equity capital market rankings with $1.5bn in deals. Morgan Stanley and RBC are the second most active, as investment banks prepare for the busiest float season since 2021. Despite market volatility tied to Trump’s policies, $6.27bn has been raised in 2025, with Virgin Australia, Greencross, and Koala among potential listings: AFR

🏡 RETAIL & REAL ESTATE

• Warner Bros Discovery has partnered with Nine Entertainment to sell ads on its new Max streaming platform. Nine will represent Max to advertisers, adding a new revenue stream amid the ad slowdown. The deal marks a step into ad-supported streaming, complementing Nine’s expanding digital media presence, including Stan. Max launches in Australia on 31 March: AFR

• Brookfield-owned Multiplex is facing scrutiny over its exposure to high-profile projects like Queen’s Wharf and Sydney Fish Markets. Despite cost blowouts and project challenges, Multiplex generated $3bn in revenue and $70.7m gross profit in 2023. Brookfield maintains it doesn’t need an equity injection despite long-term liabilities, while previously considered suitors now hesitate due to financial concerns: The Australian

📱 TECH

• Synchron, the Aussie brain-computer interface (BCI) startup, has unveiled Chiral, an AI model that translates brain activity into digital commands. Its "stentrode" BCI, already implanted in 10+ patients with conditions like ALS, enables users to control computers without their hands. At Nvidia’s GTC conference, a video demo showed Synchron patient Rodney using an Apple headset to text his wife and control smart devices—just by thinking: Capital Brief

• A US judge has ordered Meta to explain how it allowed 230,000 scam ads featuring Andrew Forrest to flood Facebook. The court is forcing it to hand over electronic records detailing when each scam ad was published and fully disclose how its ad tech enables scams: The Australian

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