How a $36m box of Hong Kong cupcakes undid a star law firm
by Janek Drevikovsky · Australian Financial ReviewJanek DrevikovskyLegal affairs reporter
May 12, 2026 – 12.00pm
In late 2021, a box of cupcakes arrived at a Hong Kong law office. They were meant to be a gift for Jason Karas, international star litigator. Instead, they have ended up costing him more than $36 million – via a corporate stoush that has become a cautionary tale for business partners everywhere, and an epic court battle that has echoes well beyond the confines of the law.
The receptionist told staff to help themselves, leaving the cupcakes, box and all, in the firm’s front office. Karas “went off his nut”, according to his former partner, Scipio “Skip” Lipman, who caught wind of that afternoon’s events from back home in Adelaide. The reason? A small note, stuck to the box, and left for all to see.
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Janek DrevikovskyLegal affairs reporterJanek Drevikovsky is the Financial Review’s legal affairs reporter. Email Janek at jdrevikovsky@nine.com.au
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