Herbert Smith Freehills Podcasts

After our brief hiatus, we are back with our Cross-Examining Cyber Director Series. In this series, we sit down with some of Australia's leading directors to discuss the challenges and opportunities facing boards in an increasingly complex cyber landscape. In this episode, we cross-examine Anne Templeman-Jones, one of Australia's most accomplished business leaders and non-executive directors. Anne has served on the boards of Commonwealth Bank, GUD Holdings Limited, Worley Limited, and Blackmores (as Chair). She has also held board and leadership roles with Cuscal Limited, HT&E Limited, Pioneer Credit Limited, TAL Superannuation Fund… the list goes on. Anne is also passionate about technology and cyber security – what a combination! In this conversation, Anne shares insights from her boardroom experience, including how directors can navigate emerging technology risks, approach cyber resilience, and balance governance with growth and innovation. Drawing on a career that has spanned multiple industries, Anne reflects on what makes an effective director and the lessons that boards can apply in an increasingly uncertain digital environment. Thanks again for listening. This is Cross-Examining Anne Templeman-Jones. Here we go…

In Part 2 of our climate reporting series, we build on the themes from Episode 50 and shift the focus to what comes next. As the first wave of disclosures has wrapped up, attention has turned to the next climate reporting cycles - particularly for June and September year-end companies. The question now is: what lessons can organisations take forward? In this episode, we unpack key takeaways from the first round of sustainability reporting and explore how they can be applied in practice for future reporters. We also take a closer look at ASIC's early observations and share our perspective on what these mean, and how companies can consider them going forward.

Welcome back to The Third Wheel. In this episode, we turn our attention to one of the new features of the annual reporting landscape: mandatory climate disclosures. With the first wave of reporting now completed, we thought it was the perfect moment to pause and reflect. What's working well? Where are organisations still finding their footing? And what challenges are starting to surface? This episode kicks off a two-part series, where we explore early trends emerging from the first round of disclosures. We share our initial observations, highlight recurring hurdles or challenges, and point to areas where reporting is already showing real progress.

In this episode of Inside Employment, Natalie Gaspar and Lucy Boyd are joined by HSF Kramer Disputes Partner, Melissa Gladstone to explore the rise of employment class actions in Australia and why they have become one of the fastest-growing litigation risks for employers. Natalie, Lucy and Melissa discuss the factors driving this trend, how employment class actions differ from traditional workplace disputes, and the unique challenges they create for employers. They also share practical steps organisations can take to mitigate risk, including governance, early issue detection and prompt remediation.

In this episode of Deal Talk, partners Kam Jamshidi and Nicole Pedler examine the Dexus vs Australia Pacific Airports Corporation litigation, which has firmly brought into focus how divesting parties manage confidentiality obligations in a sale process. Analysing the key lessons from Justice Hammerschlag's judgment in the NSW Supreme Court, Kam and Nicole work through the key issues arising from the case, including: • The scale of disclosure and why the nature of the recipients made the breach so serious • Why Justice Hammerschlag found the breach to be both material and irremediable, and what the breakdown of trust and confidence between joint venture parties means in practice • The role of the board in issuing the default notice and the drafting considerations that flow from that; and • The practical lessons for transactors, from coding for exit at the joint venture formation stage, to applying more staged, carefully controlled information disclosure in sale processes

In this episode of On Just Terms, partners Jason Betts and Melissa Gladstone sit down with Dr Peter Cashman, adjunct professor at UNSW and leading barrister, to discuss the evolution of Australia's class action regime. Drawing on decades of experience, Dr Cashman reflects on its role in improving corporate governance, product safety and access to justice, while addressing ongoing challenges around cost, delay and efficiency. He also outlines a range of reforms aimed at creating a faster, fairer and more effective class action system for all participants.

In this episode, we step back from our case study (covered in Episode 1 Parts One and Two) to address a key question: how does GenAI compare to technology-assisted review (TAR)? David Beck (Head of eDiscovery UK & EMEA), Meghan Ryan (Senior Manager, eDiscovery) and Danbee Kim (Head of Digital Legal, US) cut through the hype to explore how these technologies work in practice. They examine why TAR remains central to large-scale review - particularly for precision, consistency and defensibility - and where GenAI adds value, including contextual insight and early case analysis. Drawing on real-world experience, they show why GenAI is often reinforcing (not replacing) TAR, and reframe the debate around a more practical question: what is the right approach for the matter, the data and the client?

This is the third episode of "Cross-examining AI", HSF Kramer's podcast series on disputes and AI where we unpack the key developments that are shaping litigation. In this episode we look at the use of AI by public bodies following a recent judgment on the lawfulness of the Metropolitan Police's live facial recognition technology, as well as discussing some of the key IP issues that AI developers and users are currently confronting. This episode is hosted by Martin Hevey, a senior associate in our disputes team, who is joined by Andrew Lidbetter and Jasveer Randhawa from our public law and regulatory team, and Peter Dalton, a partner in the cyber security and IP practices. Below you can find links to our blog posts on the developments and cases covered in this podcast. • Civil Justice Council publishes update on consultation responses regarding use of AI for preparing court documents https://www.hsfkramer.com/notes/litigation/2026-07/civil-justice-council-publishes-update-on-consultation-responses-regarding-use-of-ai-for-preparing-court-documents • Lessons for AI use by public authorities in Divisional Court's decision on lawfulness of facial recognition technology https://www.hsfkramer.com/notes/publiclaw/lessons-for-ai-use-by-public-authorities-in-divisional-courts-decision-on-lawfulness-of-facial-recognition-technology

In this July wrap up edition of the public law podcast, Jasveer Randhawa is joined by HSF Kramer partners Nusrat Zar and James Wood. They start with an update on ECHR and proportionality, examining recent developments in A1P1 property rights, following the decisions in Dana Astra and BYL. The discussion then turns to practical takeaways for those advising on contentious regulatory matters, including the High Court's refusal of permission to challenge a late application in Intelligent Land Investments Group, and the evidential threshold required when seeking to restrain the publication of public authority decisions in Euro Car Parks Ltd and South East Water. They also examine the courts' evolving approach where regulators overstep, as illustrated by R (University of Sussex) v Office for Students, alongside recent High Court guidance on the correct test to be applied in energy price control appeals. To conclude, they flag the Divisional Court's decision on the lawfulness of facial recognition technology and the useful lessons it holds for the future use of AI by public authorities. Speakers: Jasveer Randhawa (Knowledge Counsel), Nusrat Zar (Partner), and James Wood (Partner).

This podcast focuses on dawn raids and how businesses can prepare for and respond to them. Dawn raids are unannounced inspections carried out by regulatory and investigative authorities to gather evidence of suspected legal breaches. In this episode, we discuss: 1) what dawn raids are and the authorities that conduct them; 2) recent trends in dawn raid activity, including the growing challenges posed by electronic data and hybrid working; and 3) the key steps companies and employees should take before, during and after a dawn raid to ensure compliance and protect their legal position. Speakers: Dawen Gao, Tianxin Sun 这一期我们将重点讨论黎明突袭（Dawn Raids）以及企业应如何应对此类调查。黎明突袭是监管机构或执法机关为调查涉嫌违法违规行为而开展的未经预先通知的现场检查。在本期节目中，我们将围绕以下三个方面展开讨论：1）首先，我们将介绍什么是黎明突袭，以及哪些监管和执法机构有权开展此类检查；2）其次，我们将探讨近年来黎明突袭的发展趋势，包括电子数据管理和远程办公模式带来的新挑战；3）最后，我们将分享企业和员工在黎明突袭前、黎明突袭期间及结束后应采取的关键应对措施，以确保合规并维护自身合法权益。 Speakers: 高达文，孙田心

Changes to workplace harassment laws – steps employers should take to prepare In this fifth episode of the Employment Espresso Pods mini-series on the Employment Rights Act 2025, Jenny Andrews and Sian McKinley, both Of Counsel, together with Knowledge Counsel Anna Henderson, focus on the changes to the law on harassment due to come into force in October 2026. These reforms extend the new preventative duty first introduced in October 2024, turning it into a duty to take "all reasonable steps" to prevent sexual harassment, and also create the potential for employees to bring claims against their employer in relation to any type of unlawful harassment by a third party. We discuss the steps employers in different sectors should take now to minimise the risk of claims. The Equality and Human Rights Commission's technical guidance dated 2024 referred to in the podcast is available here: https://www.equalityhumanrights.com/guidance/sexual-harassment-and-harassment-work-technical-guidance; the Commission's latest research is here: https://www.equalityhumanrights.com/our-work/our-research/our-research-workplace-harassment.

In this episode of On Just Terms, HSF Kramer partners Cameron Hanson and Tania Gray speak with Mark Rigotti, Managing Director and CEO of the Australian Institute of Company Directors, about the evolving governance landscape. The discussion explores governing culture beyond compliance, the growing influence of AI in the boardroom, and the impact of private capital on transparency, accountability and board priorities. A timely conversation for directors, executives and advisers navigating change in an increasingly complex environment.

This is the 38th episode of our series of commercial litigation update podcasts. In this episode we discuss privilege, including a recent case on privilege and litigation funding, disclosure, court organisation, and the question of when a third party's fraud will break the chain of causation. This episode is hosted by Maura McIntosh, a knowledge counsel in our commercial litigation team, who is joined by Angela Liu and David Shepherd, two senior associates in our disputes team. Below you can find links to our blog posts on the developments and cases covered in this podcast. • High Court finds legal advice privilege is not limited to lawyer/client communications but extends to "intra-client" communications https://www.hsfkramer.com/notes/litigation/2026-04/high-court-finds-legal-advice-privilege-is-not-limited-to-lawyer-client-communications-but-extends-to-intra-client-communications • Disclosure Review Working Group considering simplification of PD 57AD disclosure regime following survey https://www.hsfkramer.com/notes/litigation/2026-05/disclosure-review-working-group-considering-simplification-of-pd-57ad-disclosure-regime-following-survey • Creation of new Business and Property Division of the High Court announced https://www.hsfkramer.com/notes/litigation/2026-06/creation-of-new-business-and-property-division-of-the-high-court-announced • Court of Appeal holds fraudsters' intervention broke chain of causation https://www.hsfkramer.com/notes/cf/2026-posts/court-of-appeal-holds-fraudsters-intervention-broke-chain-of-causation • Litigation funding and privilege: High Court finds litigation privilege does not apply to communications prepared to enable funders to assess whether to support a claim https://www.hsfkramer.com/notes/litigation/2026-06/litigation-funding-and-privilege-high-court-finds-litigation-privilege-does-not-apply-to-communications-prepared-to-enable-funders-to-assess-whether-to-support-a-claim See podcast episode transcript here: https://marketing.hsfkramer.com/20/36058/landing-pages/commercial-litigation-podcast-ep38-transcript.pdf

In this follow-on episode, Caoimhe Powell (Director, Disputes - Digital Legal Delivery) and Ariel Wiebe (Associate, Disputes) focus on one of the most critical aspects of applying GenAI in legal review: prompting. Building on a live High Court disclosure exercise, they explore how prompt design directly shapes the quality, consistency and defensibility of outcomes—framing prompting as a core legal skill grounded in judgment. The discussion highlights the iterative nature of prompting in practice, from testing and validation through to refinement at scale, and the importance of lawyer oversight in translating legal reasoning into clear, consistent criteria.

In this episode Andrew Rich, Nanda Lau, Sophie Thompson and Adi Herman explore the evolving global landscape of consumer M&A, where strategic break-ups, portfolio optimisation and sharper deal “matchmaking” are reshaping the market. Drawing on insights from the Global M&A Report 2026: Consumer Sector, they examine key trends playing out across regions, from shifting capital flows and buyer appetite to the growing focus on agility and scale and what these dynamics mean for businesses navigating transactions worldwide.

Partners Lyn Harris (Digital Legal Delivery) and Ajay Malhotra (Disputes) move beyond the hype to examine a live English High Court litigation matter, where Relativity aiR for Review was used to support first-level document review. They explore how the technology was applied in practice, the governance and human oversight underpinning defensibility, and the key lessons from deploying GenAI at scale in a high-stakes dispute.

In this episode of Inside IR, Rohan Doyle and Mitchell Brennan use the recent Full Federal Court decision in AMWU v Opal Packaging Australia (May 2026) to explore the real-world implications of complexity in enterprise agreements. With four decision-makers across three forums arriving at four different interpretations of a relatively common status quo clause, the case is a stark illustration of enterprise agreement complexity, and how status quo clauses can be a source of competitive advantage for employers, potentially stalling workplace change for lengthy periods. Rohan and Mitchell unpack the practical risks of broadly drafted dispute resolution and status quo provisions and offer guidance for employers on simplifying these clauses and using the bargaining table - not the courtroom - to achieve clarity. A must-listen for employers, HR and IR professionals grappling with complex legacy enterprise agreement drafting in an environment that demands greater clarity and agility.

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Elina Kyselchuk. Speakers: John Corrie (Partner), Ceri Morgan (Knowledge Counsel), Elina Kyselchuk (Associate). This podcast can be listened to on SoundCloud, Apple and Spotify and don't forget to subscribe to the channel to receive updates on future episodes. You can find out more about the cases covered in this podcast on our blog at the following links: High Court dismisses injunction application to prevent current account closure on grounds of financial crime concerns https://www.hsfkramer.com/notes/bankinglitigation/2026-04/high-court-dismisses-injunction-application-to-prevent-current-account-closure-on-grounds-of-financial-crime-concerns High Court refuses to grant injunction against bank preventing payout under performance bond https://www.hsfkramer.com/notes/bankinglitigation/2026-04/high-court-refuses-to-grant-injunction-against-bank-preventing-payout-under-performance-bond Law Commission to consider introduction of opt-out consumer class actions regime https://www.hsfkramer.com/notes/bankinglitigation/2026-04/law-commission-to-consider-introduction-of-opt-out-consumer-class-actions-regime HM Treasury pitches base camp at the mountain of consumer credit reforms https://www.hsfkramer.com/notes/bankinglitigation/2026-04/hm-treasury-pitches-base-camp-at-the-mountain-of-consumer-credit-reform FCA to Review Claims Management Practices https://www.hsfkramer.com/notes/bankinglitigation/2026-04/high-court-dismisses-injunction-application-to-prevent-current-account-closure-on-grounds-of-financial-crime-concerns0 Creation of new Business and Property Division of the High Court announced https://www.hsfkramer.com/notes/litigation/2026-06/creation-of-new-business-and-property-division-of-the-high-court-announced Handy client guide to privilege – newly updated https://www.hsfkramer.com/notes/litigation/2026-05/handy-client-guide-to-privilege-newly-updated Biannual Banking Litigation Update (Spring 2026) https://www.hsfkramer.com/notes/bankinglitigation/2026-04/bi-annual-banking-litigation-update-spring-2026

Unfair dismissal from January 2027 – what employers need to do now In this fourth episode of the Employment Espresso Pods mini-series on the Employment Rights Act 2025, Jenny Andrews and Sian McKinley, both Of Counsel, together with Knowledge Counsel Anna Henderson, turn to one of the most significant changes - certainly the most controversial in terms of its progress through parliament - the Unfair Dismissal changes landing on 1 January 2027.

In this episode of On Just Terms, Jason Betts and Harry Edwards are joined by Lucinda McCann, Chief Compliance Officer at the ASX, for a candid conversation on the organisation's approach to its supervisory and enforcement responsibilities. Lucinda discusses ASX's shift to risk-based supervision, effective engagement during its inquiries, continuous disclosure obligations, trading halts, and its referrals of matters to ASIC. She also explores the impact of the securities class actions market on its work and how AI may support the ASX's work. A practical discussion for those advising or working in Australia's listed markets.

This is the 37th episode of our series of commercial litigation update podcasts, which is a special edition focusing on force majeure. As well as outlining the legal landscape for force majeure under English law, it gives practical guidance on both drafting force majeure clauses and dealing with force majeure scenarios. This episode is hosted by Maura McIntosh, a knowledge counsel in our commercial litigation team, who is joined by Julian Copeman, a disputes partner, and Richard Mendoza, an of counsel in our disputes team. They are also two of the editors of a recently published book on Force Majeure: Force Majeure - An International Comparative Analysis. Below you can find links to our blog posts on some of the developments and cases covered in this podcast, and previous materials published on force majeure. • Force majeure: general assertions as to impact of Covid-19 and Brexit not sufficient to defeat summary judgment application https://www.hsfkramer.com/notes/litigation/2023-05/force-majeure-general-assertions-as-to-impact-of-covid-19-and-brexit-not-sufficient-to-defeat-summary-judgment-application • High Court decision considers force majeure and sanctions issues https://www.hsfkramer.com/notes/litigation/2024-01/high-court-decision-considers-force-majeure-and-sanctions-issues • Force majeure: Supreme Court finds no obligation on party seeking to rely on force majeure clause to accept counterparty's offer of non-contractual performance https://www.hsfkramer.com/notes/litigation/2024-05/force-majeure-supreme-court-finds-no-obligation-on-party-seeking-to-rely-on-force-majeure-clause-to-accept-counterpartys-offer-of-non-contractual-performance • Global trade tariffs: Impact on contractual arrangements https://www.hsfkramer.com/notes/litigation/2025-04/global-trade-tariffs-impact-on-contractual-arrangements • When events intervene: Force majeure, frustration and material adverse change https://www.hsfkramer.com/notes/litigation/2020-10/when-events-intervene-force-majeure-frustration-and-material-adverse-change • 'A board-level issue': the resurgence of force majeure - The Global Legal Post https://www.globallegalpost.com/news/a-board-level-issue-the-resurgence-of-force-majeure-132016115 See podcast episode transcript here: https://marketing.hsfkramer.com/20/36058/landing-pages/commercial-litigation-podcast-ep37-transcript.pdf

In this episode of Deal Talk, partners Kam Jamshidi and Andrew Bradley explore the opportunities for M&A in the Australian financial services sector. Sharing insights from their recent experience advising on the sale of Insignia Financial, Andrew and Kam work through the key issues facing dealmakers in this sector, including: - The themes driving financial services M&A and private equity interest - How the sector has changed in the years since the Royal Commission - ASIC's enforcement focus and why regulatory pressure is an opportunity, not just a threat - The Shield and First Guardian situation and what it means for the broader ecosystem - Legacy technology stacks and the opportunity for international buyers to add value; and - The differences in working with APRA and FIRB to get a deal over the line. Important listening for private equity sponsors and strategic acquirers considering the Australian financial services sector.

In this follow-up episode to Part 1: The Star Decision - Lessons for Directors, HSF Kramer Chair and Senior Partner Rebecca Maslen-Stannage and Head Office Advisory Partner Carolyn Pugsley, turn to the broader governance lessons from the Star decision — including Justice Lee's pointed observations on AI in the boardroom, the growing impracticality of modern board papers, and the role of general counsel and company secretaries. A must-listen for boards and governance professionals navigating the evolving duties landscape in Australia.

HSF Kramer Chair and Senior Partner Rebecca Maslen-Stannage and Head Office Advisory Partner Carolyn Pugsley, unpack the Federal Court's landmark decision and draw out practical takeaways for NEDs in this two-part podcast series. In this episode, they discuss the facts and basis of ASIC's allegations, as well as the key outcomes and contributing management and board dynamics (drawing contrasts to other seminal directors' duties cases such as the Centro decision). In episode two, the discussion turns to the broader governance lessons from the Star decision — including Justice Lee's pointed observations on AI in the boardroom, the growing impracticality of modern board papers, and the role of general counsel and company secretaries. This is a must-listen for NEDS navigating the evolving duties landscape in Australia.

In Episode 2 of Deal Talk, partners Kam Jamshidi and Nicole Pedler explore what the 2025 NBIO market reveals for bidders and targets in Australian public M&A. HSF Kramer has deeply analysed non binding indicative offers in public deals to extract the key lessons for bidders and targets when formulating their M&A strategy. Drawing on this proprietary data, the episode examines when NBIOs most commonly emerge and what that means for listed companies facing major announcements, leadership changes and other market moving events. Kam and Nicole work through the 2025 NBIO landscape, covering: • success rates • disclosure practices and timing • engagement periods • private equity dynamics • pre bid stakes • recent Takeovers Panel developments A practical discussion for boards, management teams and advisers preparing for, advising on or responding to a potential public M&A approach.

Investigate 360: EP15 Export Controls and Sanctions in Defence: Practical Insights Across Australia and the US by Herbert Smith Freehills Kramer Podcasts

In the latest episode of On Just Terms, HSF Kramer partners Jason Betts and Rebecca Maslen-Stannage are joined by The Honourable Michelle Rowland MP, Attorney-General of Australia, for a wide-ranging discussion on the government's legal priorities. The Attorney-General shares insights on Privacy Act reform, the government's position on copyright and AI and why there is no text and data mining exception, scams and consumer protection, class actions and access to justice, and the critical importance of effective enforcement capability. This is a substantive discussion on the role of law in serving the public interest, and what lies ahead on Australia's legal agenda.

2026 Federal Budget - CGT Discount Replaced, Negative Gearing Curtailed, and Discretionary Trusts Hit with Minimum Tax Late on Budget night Toby Eggleston, Ryan Leslie and Nick Heggart discuss Treasurer Chalmers' budget, focused on reshaping personal tax, especially capital gains and discretionary trusts, under “intergenerational equity.” Corporate measures are smaller, including re-announced non-resident CGT changes with intended retrospectivity to 2006 and limited transitional relief for renewables to 30 June 2030, expanded VCLP/ESVCLP investment caps, and R&D offset tweaks forecast to reduce tax by $1.5b. Small business changes include making the instant asset write-off permanent, a refundable loss offset for startups from 1 July 2028, and a permanent loss carry-back for companies under $1b turnover. Major personal reforms include phasing out the 50% CGT discount from 1 July 2027 (replaced by cost-base indexation and a 30% minimum CGT tax), taxing pre-CGT assets, limiting negative gearing for post-budget residential purchases (except new builds), and imposing a 30% minimum tax on discretionary trusts from 1 July 2028 with complex impacts, especially for “bucket companies,” plus proposed restructuring rollovers amid stamp duty issues. 00:10 Budget Night Kick-off 00:41 Corporate Tax Overview 01:53 Non-Resident CGT Reboot 03:14 Venture Capital and R&D 05:16 Small Business Reliefs 06:20 Loss Carry-back Returns 08:44 Big Shift to Personal Tax 08:47 CGT Discount Ends 10:52 Tech and Startup Fallout 15:01 Negative Gearing Overhaul 16:51 Discretionary Trusts Seismic 21:37 Late Night Wrap Up

This podcast focuses on the pharmaceutical industry and, in particular, M&A activity in the sector and the recent surge in licensing deals involving Chinese biotechs. There are a lot of interesting topics related to the pharmaceutical sector which we could discuss but today we will be covering the following: 1) First, we will begin with an overview of M&A deal activity in the sector; 2) we will then discuss the key legal trends being seen by our deal teams, 3) finally, we will conclude with a discussion on a hot topic in the industry right now, the rise of China's biotechs on the global stage. Speakers: Csilla Cao, Siqi Geng 这一期我们会重点讨论制药行业，特别是制药行业并购活动的情况，以及这段时间明显升温的中国生物科技公司对外授权交易。制药行业其实有很多值得讨论的话题，我们这期节目将主要聚焦三个方面：1) 首先，我们会对制药行业的并购交易情况做一个整体介绍；2)再讨论我们交易团队在实际交易中观察到的一些关键法律趋势；3) 最后，我们将重点谈一谈目前行业的一个热门话题，中国生物科技公司在全球舞台的崛起。 Speakers: 曹文旖，耿思琪

It has been a busy time for the Prudential Regulation Authority ("PRA") Enforcement team. In two firsts for the PRA, its decision against U K Insurance Ltd saw the first reported use of the Early Account Scheme leading to a settlement discount of 50%, and the decision against Bank of London Group Limited and Oplyse Holdings Limited involved the first breach of Fundamental Rule 1 by a firm. In this episode of the FSR Brief, Jon Ford, Michael Tan and Emma Bridgeman discuss these recent cases by the PRA and what they signal to firms about the PRA's approach when it comes to early settlement and integrity findings. For more on the Early Account Scheme, read our blog post on the UK Insurance Limited case: https://www.hsfkramer.com/notes/fsrandcorpcrime/2026-posts/weighing-up-the-pras-early-account-scheme-insights-from-the-first-case-concluded-using-the-process

This is the second episode of "Cross-examining AI", HSF Kramer's podcast series on disputes and AI where we unpack the key developments in AI that are shaping litigation. In this episode we give an update on privilege and AI in the US, find out why not to use ChatGPT to develop a corporate strategy, and finally discuss how AI is being used in the world of international arbitration. This episode is hosted by Camilla Macpherson, a knowledge lawyer in our disputes team. Camilla is joined by Alan R. Friedman, a counsel in our New York disputes team, Nick Tonckens, an associate in our New York disputes team and Liz Kantor, a knowledge counsel in our global arbitration team. Below you can find links to our blog posts on the developments and cases covered in this podcast. • Civil Justice Council publishes consultation on use of AI for preparing court documents https://www.hsfkramer.com/notes/litigation/2026-02/civil-justice-council-publishes-consultation-on-use-of-ai-for-preparing-court-documents • New York court finds client chats with generative AI tool Claude are not privileged https://www.hsfkramer.com/notes/litigation/2026-02/new-york-court-finds-client-chats-with-generative-ai-tool-claude-are-not-privileged • US courts find privilege applies to use of public AI tools by self-represented litigants https://www.hsfkramer.com/notes/litigation/2026-04/us-courts-find-privilege-applies-to-use-of-public-ai-tools-by-self-represented-litigants • Delaware Court of Chancery reinstates seller CEO and extends earnout payment window, as buyer's ChatGPT strategy fails https://www.hsfkramer.com/insights/2026-04/delaware-court-of-chancery-reinstates-seller-ceo-and-extends-earnout-payment-window-as-buyers-chatgpt-strategy-fails • AI-volution in Arbitration: the new Chartered Institute of Arbitrators (CIArb) Guidelines https://www.hsfkramer.com/notes/arbitration/2025-03/ai-volution-in-arbitration-the-new-chartered-institute-of-arbitrators-guidelines

In this episode of On Just Terms, Jason Betts and Melissa Gladstone continue their conversation with Stuart Price, CEO of CASL, focusing on the practical realities of litigation funding. The discussion examines how funders balance commercial returns with fairness to group members, manage competing stakeholder interests, and respond to evolving market dynamics, including contingency fees, legal finance models and emerging technologies shaping the future of complex litigation.

In this edition of our banking litigation podcast, we consider some recent cases that will be most relevant to in-house lawyers at banks and financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by Ceri Morgan and special guest Frances Furnivall. Speakers: John Corrie (Partner), Ceri Morgan (Knowledge Counsel), Frances Furnivall (Senior Associate). You can find out more about the cases covered in this podcast on our blog at the following links: Supreme Court confirms suspension of payment obligations under letters of credit due to UK Russian sanctions regime https://www.hsfkramer.com/notes/bankinglitigation/2026-03/supreme-court-confirms-suspension-of-payment-obligations-under-letters-of-credit-due-to-uk-russian-sanctions-regime High Court considers whether success fee payable to advisory firm in respect of "Equivalent Transaction" in de-SPAC merger https://www.hsfkramer.com/notes/bankinglitigation/2026-03/high-court-considers-whether-success-fee-payable-to-advisory-firm-in-respect-of-equivalent-transaction-in-de-spac-merger High Court considers summary judgment application on whether success fee payable by private equity fund to placement agent https://www.hsfkramer.com/notes/bankinglitigation/2026-04/commercial-court-considers-summary-judgment-application-on-whether-success-fee-payable-by-private-equity-fund-to-placement-agent High Court upholds broker's entitlement to US$2.25m success fee under tripartite mandate despite limited involvement in funding process https://www.hsfkramer.com/notes/bankinglitigation/2026-03/high-court-upholds-brokers-entitlement-to-usd-2-25-m-success-fee-under-tripartite-mandate-despite-limited-involvement-in-funding-process Banking Litigation Podcast Episode 54: Hopcraft Special Edition https://www.hsfkramer.com/notes/bankinglitigation/2025-08/banking-litigation-podcast-episode-54-hopcraft-special-edition High Court finds legal advice privilege is not limited to lawyer/client communications but extends to "intra-client" communications https://www.hsfkramer.com/notes/litigation/2026-04/high-court-finds-legal-advice-privilege-is-not-limited-to-lawyer-client-communications-but-extends-to-intra-client-communications Upper Tribunal observes that uploading confidential documents into open-source AI tools waives client confidentiality and legal privilege https://www.hsfkramer.com/notes/litigation/2026-03/upper-tribunal-observes-that-uploading-confidential-documents-into-open-source-ai-tools-waives-client-confidentiality-and-legal-privilege New York court finds client chats with generative AI tool Claude are not privileged https://www.hsfkramer.com/notes/litigation/2026-02/new-york-court-finds-client-chats-with-generative-ai-tool-claude-are-not-privileged US courts find privilege applies to use of public AI tools by self-represented litigants https://www.hsfkramer.com/notes/litigation/2026-04/us-courts-find-privilege-applies-to-use-of-public-ai-tools-by-self-represented-litigants Supreme Court holds that no statutory limitation period applies to unfair prejudice petitions https://www.hsfkramer.com/notes/litigation/2026-03/supreme-court-holds-that-no-statutory-limitation-period-applies-to-unfair-prejudice-petitions

This is the 36th episode of our series of commercial litigation update podcasts. In this episode we discuss class actions, AI, a number of privilege cases including one of the most important decisions in that area in the past few years, and an interesting decision on service of proceedings. This episode is hosted by Maura McIntosh, a knowledge counsel in our commercial litigation team, who is joined by Julian Copeman, a disputes partner, and Tracey Lattimer, a knowledge lawyer in our disputes team. Below you can find links to our blog posts on the developments and cases covered in this podcast. • Law Commission to consider introduction of opt-out consumer class actions regime https://www.hsfkramer.com/notes/litigation/2026-04/law-commission-to-consider-introduction-of-opt-out-consumer-class-actions-regime • Cross-examining AI – Episode 1: Civil Justice Council AI consultation and latest developments in AI and privilege https://www.hsfkramer.com/notes/litigation/2026-03/cross-examining-ai-episode-1-civil-justice-council-ai-consultation-and-latest-developments-in-ai-and-privilege • US courts find privilege applies to use of public AI tools by self-represented litigants https://www.hsfkramer.com/notes/litigation/2026-04/us-courts-find-privilege-applies-to-use-of-public-ai-tools-by-self-represented-litigants • Upper Tribunal finds privilege applied to whether Boris Johnson sought legal advice on the lawfulness of the Covid-19 lockdown https://www.hsfkramer.com/notes/litigation/2026-04/upper-tribunal-finds-privilege-applied-to-whether-boris-johnson-sought-legal-advice-on-the-lawfulness-of-the-covid-19-lockdown • High Court finds company could not assert privilege against former director over legal advice she had seen at the time https://www.hsfkramer.com/notes/litigation/2026-03/high-court-finds-company-could-not-assert-privilege-against-former-director-over-legal-advice-she-had-seen-at-the-time • High Court finds legal advice privilege is not limited to lawyer/client communications but extends to "intra-client" communications https://www.hsfkramer.com/notes/litigation/2026-04/high-court-finds-legal-advice-privilege-is-not-limited-to-lawyer-client-communications-but-extends-to-intra-client-communications • Court of Appeal finds English courts lack jurisdiction over sanctioned individual who is not permitted to enter the UK https://www.hsfkramer.com/notes/litigation/2026-03/court-of-appeal-finds-english-courts-lack-jurisdiction-over-sanctioned-individual-who-is-not-permitted-to-enter-the-uk See podcast episode transcript here: https://marketing.hsfkramer.com/20/36058/landing-pages/commercial-litigation-podcast-ep36-transcript.pdf

In this episode of On Just Terms, Jason Betts and Melissa Gladstone speak with Stuart Price, CEO of CASL, about the role litigation funding plays in Australia's corporate risk landscape. The conversation explores how funders assess and select cases, the legal and commercial factors that influence funding decisions, and what these dynamics mean for companies facing complex litigation. Stuart also shares insights into how risk appetite, case selection, and regulatory settings continue to shape the evolving litigation funding market.

Welcome to Cross Examining Cyber, a podcast brought to you by Herbert Smith Freehills Kramer. In this podcast series, we speak to our business leaders about all things cyber, including the legal, governance, technical, regulatory and policy developments that impact corporates around the world. I'm really excited to announce that this is the first of our Cross-Examining Cyber Director Series. For the next six months, we will speak to some of our leading directors, including David Gonski, Anne Templeman-Jones, John Mullen, Catherine Brenner, just to name a few. Today's the first in our series, and today we cross-examine David Moffatt. David has over 40 years' experience in executive leadership positions. He's worked and lived almost everywhere, Australia, the US, Europe and Asia. He's currently the chair of Ventia Services Group, Environmental Remediation and Social Services and Apollo Global Management. David is also the chair of the American Chamber of Commerce here in Australia. David has first-hand experience dealing with a cyber incident as part of his role at Ventia. His insights are not only considered but come from direct experience. Thanks again for listening. This is Cross Examining David Moffatt, the first in our Director Series. Here we go.

Partners Toby Eggleston, Nick Heggart and Ryan Leslie discuss Treasury's 10 April 2026 exposure draft legislation implementing and expanding the 2024 budget proposals on when non-residents pay Australian CGT. The draft materially broadens “taxable Australian real property” beyond general law real property (post the YTL and Newmont decisions) to include rights over land, contractual rights, and fixed or installed assets expected to be on land for most of their useful life (e.g., wind/solar assets, pipelines, mining equipment, tenant fixtures), plus water entitlements, with some elements proposed to apply retrospectively to 12 December 2006. It also includes a treaty-override via the International Tax Agreements Act, changes the principal asset test to a 365-day lookback, introduces a limited 50% CGT discount for certain renewable generation disposals to 1 July 2030, and tightens the non-resident CGT withholding/declaration and clearance certificate processes, all amid a 14-day consultation period. Want to go deeper? Read our briefing note here: https://www.hsfkramer.com/insights/2026-04/australias-non-resident-cgt-changes 00:10 Welcome and agenda 00:32 Budget shock announcement 02:34 Overview of reforms 02:57 Expanded real property definition 06:25 Assets newly in scope 09:07 Uncertainty and edge cases 11:25 Retrospective start dates 14:39 Treaty override explained 23:26 Indirect interest test changes 27:54 Renewables CGT discount 31:14 Withholding and notifications 34:18 Consultation and wrap up

The Employment Rights Act 2025: Union Rights – what employers need to know In this third episode of the Employment Espresso Pods mini-series on the Employment Rights Act 2025, Jenny Andrews and Sian McKinley, both Of Counsel, together with Knowledge Counsel Anna Henderson, turn to the significant reforms being made to trade union rights — changes that matter to all employers, whether or not they currently recognise a union. The episode covers the changes to industrial action law already in force since February 2026, as well as further changes expected in the autumn. The team also examines the reformed statutory recognition process, with lower thresholds making it significantly easier for unions to win recognition. Looking ahead to October 2026, they discuss the new obligation to inform workers of their right to join a trade union, and the landmark new right of trade unions to access workplaces — physically and digitally — to meet, recruit and organise, without needing to demonstrate any existing membership in the business. The episode closes with seven practical action points to help employers — unionised and non-unionised alike — get ahead of these changes before the October deadline.

In this episode of Inside Safety, Steve Bell is joined by Shane Allison, CEO of Phronesis, to explore the real cost of reputational damage for organisations. Drawing on original research into ASX 200 reputation incidents, they unpack what defines a reputational crisis, why many are foreseeable, and which issues cause the greatest and most lasting harm. From executive misconduct and employee class actions to governance and psychosocial risk, this episode offers practical insights for safety, legal and risk professionals looking to better anticipate and manage reputation risk.

Following the Australian Government's new federal hate crimes legislation that commenced in January 2026, HSF Kramer Partners Jacqui Wootton and Alice Molan and Solicitor Shaun Milligan unpack the new offences relating to “prohibited hate groups”, including what the recklessness standard means in practice for corporates, particularly across procurement, supply chains and corporate groups. We also explore proposed changes to the AML/CTF Rules and the practical steps reporting entities can take now to identify, escalate and manage prohibited hate group risk alongside other serious financial crime risks.

In this special bonus episode, we share a recording from a recent client webinar exploring the major corporate crime trends shaping the APAC region in 2026. Drawing on the firm's newly launched Corporate Crime 360 Guide, HSF Kramer APAC partners Kyle Wombolt, Jacqui Wootton and Leon Chung break down the critical regulatory, enforcement and risk developments businesses should have firmly on their radar over the year ahead.

In this episode, Employment Partner Tony Wood and Executive Counsel Lucy Boyd are joined by HSF Kramer partner (and Corporate law icon), Priscilla Bryans. The team unpack what really happens behind the AFR headlines and discuss an array of issues, starting with the recent data showing a spate of CEO turnovers from both Australia and the US. Tony, Lucy and Priscilla also discuss: • Why succession planning is so important, and why it takes so much time • The impact on the cap on termination benefits under the Corporations Act • How STI and LTI incentives are a key issue in executive separations and why there is more interest than ever from shareholder activists and proxy advisors • The greater accountability of executives for misconduct and behavioural issues, coupled with the plethora of laws regulating bullying and whistleblowing • The changing composition of Boards and why the critical mass of female non-executive directors is changing the leadership culture of big business

EP31: Collective Bargaining Under Pressure: Wages, Inflation, and the Fight for Fair but Sustainable Wages In this episode of Inside IR, Rohan Doyle and Natalie Gaspar explore the growing pressure on enterprise bargaining wage negotiations as we see unions pressing for wage increases that outpace the rising cost of living in the face of inflation and interest rate increases, at a time when employers are under immense pressure to reduce costs. Natalie and Rohan examine why productivity has become central to achieving sustainable wage outcomes, and discuss some of the other key developments driving up wage costs, including same job, same pay orders, and expanding enterprise agreement coverage. A timely and practical discussion for employers, HR and IR professionals navigating a highly charged bargaining environment.

Breach of Principle 1 – Banque Havilland vicariously liable for senior employees' lack of integrity On 3 February 2026, the Upper Tribunal handed down its judgment finding, among other things, that Banque Havilland had breached Principle 1 of the FCA's Principles for Businesses (the requirement to conduct business with integrity), on the basis that the firm was vicariously liable for the actions of its senior employees. In Episode 11 of the FSR Brief, Jon Ford, Kate Meakin and Izzy Salzedo discuss the Upper Tribunal's exploration of vicarious liability and agency law as a novel route to establishing a breach of Principle 1, and consider questions of liability and attribution from both a corporate crime and financial services regulatory perspective. The discussion also touches on the Upper Tribunal's more generous approach to penalty and mitigation when compared with the FCA's decision. For further background read our blog post: https://www.hsfkramer.com/notes/fsrandcorpcrime/2026-posts/the-curious-case-of-banque-havilland-a-firm-held-vicariously-liable-for-a-lack-of-integrity

Toby Eggleston and Naison Seery discuss Australian tax treatment of earnouts and contingent consideration in M&A, noting increased use to bridge valuation gaps and that outcomes depend on TOFA, deal terms, metrics and payment timing, with ATO views still being tested. They outline the ATO's shifting historical positions on whether earnout rights are separate CGT assets, buyer cost base treatment, and potential CGT event D1 exposure. TOFA is a key starting point for large taxpayers and can apply to contingent rights as financial arrangements, with timing and character mismatch implications; a business sale exception may exclude earnouts contingent on economic performance (not solely turnover/receipts), with uncertainty illustrated by the Merchant case. Outside TOFA, CGT applies and the look-through earnout rules may allow proceeds/cost base to reflect actual payments if strict conditions are met, including active asset and a hard five-year payment window. 00:09 Welcome 00:25 Why Earnouts Matter 01:26 ATO Views Over Time 05:44 TOFA as the starting point 07:27 TOFA Mechanics and Timing 09:27 Business Sale Exception Tests 10:53 Structuring Contingencies 13:26 In or Out of TOFA 17:37 Outside TOFA and Look Through Earn out rights 18:46 Look Through Requirements 20:12 Five Year Rule Pitfalls 23:39 Wrap Up and Key Takeaways

In the first episode of Deal Talk, our partners, Mia Harrison-Kelf, Geoff Kerrigan and Li-Lian Yeo discuss the key findings from our latest Global M&A Outlook. The episode reflects on the defining features of the 2025 deal market and explores what they mean for M&A activity in Australia and globally in 2026. Including deal volumes, valuation dynamics, regulatory scrutiny and execution risk. A practical discussion for anyone involved in planning, approving or delivering transactions.

Season 2 Episode 1: From Compliance to Capability: AUSTRAC's Expectations for Corporate Australia In this episode of On Just Terms, Herbert Smith Freehills Kramer disputes partners Jason Betts and Bryony Adams speak with Brendan Thomas, CEO of AUSTRAC, about the evolving financial crime risk landscape facing corporate Australia. Over the course of their discussion, Mr Thomas shares a number of invaluable insights about AUSTRAC's expectations about the ways in which companies manage financial crime risk, with a particular focus on common mistakes and what ‘good' looks like. This is a ‘must listen' for any directors and executives at companies whose services are caught by Australian anti-money laundering laws but will also be of interest more generally to anyone with an interest in the governance and oversight of non-financial risk.

Liz Kantor and Vanessa Naish, co‑editors of Inside Arbitration for the past decade and hosts of the Inside Arbitration podcast series, present a special anniversary edition marking ten years of this flagship publication. They are joined by our Global Co‑Heads of Arbitration, Andrew Cannon and Simon Chapman KC, for a thoughtful and wide‑ranging discussion reflecting on a decade of change and development within the arbitration landscape. In this commemorative episode, Liz and Vanessa speak with Andrew and Simon about the origins of Inside Arbitration, the major trends that have shaped international arbitration over the last ten years, and the developments set to influence its future trajectory. From procedural innovation and increasing regionalisation to the growing impact of geopolitics, ESG considerations, and the evolution of investment treaty arbitration, the conversation provides a candid and compelling insight into how the practice has progressed and where it is heading next. Listeners can also look forward to an energetic quick‑fire round to close the episode, during which Simon and Andrew offer rapid, practical insights on seats, sectors, strategy, drafting pitfalls, and career advice for aspiring practitioners.

In this edition of the public law podcast series, Jasveer Randhawa is joined by HSF Kramer Partner James Wood and Of Counsel (Australia) Christine Iacono. Together, they discuss key points around engaging with advertising regulators, specifically the UK's Advertising Standards Authority (ASA). Their discussion covers the ASA's investigation process, as well as the consequences of non-compliance with the ASA's Advertising Codes. They also touch on the use of AI in advertising, and some recent ASA rulings attracting debate over the regulator's remit and approach. To conclude, they discuss the available options for challenging a decision by the ASA. Speakers: Jasveer Randhawa (Knowledge Counsel), James Wood (Partner), and Christine Iacono (Of Counsel) (Australia).

This is the first episode of "Cross-examining AI", HSF Kramer's podcast series on disputes & AI where we unpack the key developments in AI that are shaping litigation today. In this episode we discuss the Civil Justice Council's interim report and consultation on the use of AI in preparing court documents and give an overview of the first cases to consider the impact of AI on privilege. This episode is hosted by Martin Hevey, a senior associate in our disputes team, who is joined by Emma Deas, a financial services litigation partner, and Charlotte Benton, a senior associate in our disputes team. Below you can find links to our blog posts on the developments and cases covered in this podcast. • Civil Justice Council publishes consultation on use of AI for preparing court documents https://www.hsfkramer.com/notes/litigation/2026-02/civil-justice-council-publishes-consultation-on-use-of-ai-for-preparing-court-documents • New York court finds client chats with generative AI tool Claude are not privileged https://www.hsfkramer.com/notes/litigation/2026-02/new-york-court-finds-client-chats-with-generative-ai-tool-claude-are-not-privileged • Upper Tribunal observes that uploading confidential documents into open-source AI tools waives client confidentiality and legal privilege https://www.hsfkramer.com/notes/litigation/2026-03/upper-tribunal-observes-that-uploading-confidential-documents-into-open-source-ai-tools-waives-client-confidentiality-and-legal-privilege • Navigating legal privilege issues when using AI https://www.hsfkramer.com/notes/litigation/2025-12/navigating-legal-privilege-issues-when-using-ai

In this second part of our podcast on the Employment Rights Act 2025 reforms coming into force in April 2026, Jenny Andrews and Sian McKinley, both Of Counsel, together with Knowledge Counsel Anna Henderson, discuss the coming changes to collective redundancy protective awards and the implications of the new Fair Work Agency, including in relation to potential liability for backdated statutory holiday pay. They round up with a list of key actions for HR to take before 6 April 2026.