Latest news with #MFW
Fashion Value Chain
18-07-2025
- Entertainment
- Fashion Value Chain
Manchester Fashion Week Returns After a Decade
After a ten-year hiatus, Manchester Fashion Week (MFW) returns from 9–11 September 2025, reimagined as a progressive, industry-led event that fuses heritage with innovation. Backed by fashion pioneers Carry Somers (Fashion Revolution) and Safia Minney, MBE (People Tree), and media partner Eco Age, the three-day showcase aims to future-proof fashion by spotlighting sustainability, technological innovation, and cultural relevance. Held in the vibrant St. John's district, with Campfield as the central venue, MFW is designed to honour Manchester's rich textile legacy while confronting modern challenges—particularly those surrounding fast fashion, circularity, and meaningful consumption. Gemma Gratton, Executive Producer, MFW: 'Manchester has always led – in music, in manufacturing, in movements. Now it's time to lead in future-facing fashion.' John Higginson, CEO, Eco Age: 'There's a battle between flimsy fast fashion and timeless design. Manchester Fashion Week is about forever fashion.' Each day of the event will be curated around key themes: Heritage & Future-Proof Health & Wellness Tech & Innovation Beyond the runway, the festival will offer public experiences, creative activations, and cross-sector dialogues across Manchester, making it a cultural reset for the city's £12 billion fashion industry. This edition is positioned as a pilot platform, intended to build toward a more expansive and collaborative future for UK fashion. Learn more:
Business Journals
06-06-2025
- Business
- Business Journals
Delaware's 2025 DGCL amendment
In March 2025, Delaware enacted significant amendments to the Delaware General Corporation Law (DGCL). These amendments, enacted through Senate Bill 21 (SB 21) and signed into law by Gov. Matt Meyer on March 25, 2025, substantively modify the safe harbor provisions for interested transactions and refine the scope of stockholder inspection rights. We analyze these critical changes and their practical implications for Delaware corporations, their boards and stockholders. Background and context The amendments were passed by the Delaware legislature in response to a concerning trend of corporations redomesticating to other states. The law took effect immediately upon the governor's signature and represents Delaware's proactive effort to maintain its position as the premier state for corporate domicile by providing greater statutory clarity in areas previously defined primarily through case law. Section 144: Comprehensive safe harbor framework Defining the 'controlling stockholder' The amendments provide a statutory definition of a 'controlling stockholder' as one who: Owns or controls a majority of voting stock entitled to vote in director elections Can appoint directors with majority voting power, or Has equivalent control by holding at least 33.33% of the corporation's voting stock and managerial authority over the corporation Three distinct safe harbor paths The amendments establish differentiated approval requirements for interested transactions based on the specific conflict scenario: 1. Majority interested board safe harbor For transactions involving a majority interested board, the amendments provide a safe harbor from both equitable relief and damages liability through either: Approval by an independent committee comprising at least two disinterested directors, or Approval or ratification by a majority of the votes cast by disinterested stockholders Notably, the director safe harbor no longer requires conditioning approval before the start of substantive economic negotiations, though the board must determine all committee members are disinterested. For stockholder approval, the 'votes cast' standard replaces the previous 'outstanding' shares standard. 2. Conflicted controller/non-go-private transactions For transactions where a controlling stockholder has a conflict but is not taking the company private: Safe harbor is available through either: Approval by an independent committee comprising at least two disinterested directors, or Approval or ratification by a majority of the votes cast by disinterested stockholders This effectively overrules prior case law requiring both protections for such transactions. 3. Conflicted controller / go-private safe harbor For transactions where a controlling stockholder is taking the company private: Safe harbor requires both: This codifies the dual-protection framework from Kahn v. M&F Worldwide Corp. (MFW) while eliminating the 'ab initio' requirement that these protections be implemented before the start of substantive economic negotiations. Enhanced protection for public company directors The amendments create a strong presumption that directors of public companies are disinterested and independent if they meet stock exchange independence definitions. This presumption: Does not apply if the director is a party to the transaction Can only be rebutted by 'substantial and particularized facts' The amendments also limit controller liability to breaches of loyalty or improper benefits, shielding controlling stockholders from damages for breaches of the duty of care in their capacity as controllers. Section 220: Refining stockholder inspection rights Statutory definition of 'books and records' The amendments provide a statutory definition of 'books and records' to establish clearer boundaries for stockholder inspection rights, including: Enhanced requirements for inspection SB 21 also institutes more structured requirements for books and records inspections: Demands must be conducted in good faith Proper purpose must be described with reasonable particularity Requested records must be specifically related to the stockholder's proper purpose Additionally, the amendments codify that corporations can impose reasonable confidentiality restrictions, limiting the use and distribution of inspected records and redacting irrelevant information. Limited expansion provision Unlike the original bill, the enacted amendments permit the inspection of materials beyond those covered by the 'books and records' definition if a stockholder: Makes a showing of a compelling need for inspection to further a proper purpose, and Demonstrates by clear and convincing evidence that such specific records are necessary and essential to further such purpose This balanced approach is designed to preserve meaningful inspection rights while providing companies with greater certainty about the scope of potential demands. Practical implications For corporate governance: Strategic flexibility in transaction planning: The amendments provide multiple pathways to cleanse conflicted transactions based on the nature of the conflict, enhancing flexibility in transaction structuring. Greater certainty for boards: The presumption of independence for public company directors who meet exchange requirements reduces litigation risk in board decision-making. Protection for controllers: Limiting controller liability to breaches of loyalty or improper benefits shields controlling stockholders from damages for breaches of the duty of care. Streamlined approval processes: Removal of the 'ab initio' requirement and other timing constraints allows more practical implementation of protective measures. For transaction planning: Clearer standards: The 33.33% threshold for controlling stockholder status provides a bright-line rule. Tailored approval paths: Different cleansing options based on transaction type allow more efficient governance approaches. Special committee requirements: Committees must include at least two directors determined to be disinterested and fulfill their duty of care. Modified stockholder approval standard: The shift to a 'votes cast' standard from 'outstanding shares' may make stockholder approval more attainable. For stockholder rights: More defined inspection scope: The statutory definition of 'books and records' provides both corporations and stockholders with greater clarity. Balanced protection: While defining limits to inspection rights, the amendments preserve access to additional records when stockholders can demonstrate compelling need. expand To learn more about King & Spalding's global M&A practice, please visit With nearly 140 years of service, King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 1,300 lawyers in 24 offices in the United States, Europe, the Middle East and Asia. Rob Leclerc works with publicly traded and private companies as well as private equity firms to execute mergers and acquisitions, strategic investments, joint ventures and other complex transactions. Leclerc is a partner in our Mergers and Acquisitions and Corporate Governance practices. Zack Davis specializes in representing issuers and underwriters in a variety of capital markets activities in the U.S. and abroad. He also advises a number of public companies in connection with governance issues, SEC reporting and disclosure requirements and other corporate and securities matters.
BusinessToday
16-05-2025
- Business
- BusinessToday
Halal Silk Road: Malaysia Charts A Certifiable Course Into China
The Halal Development Corporation Berhad (HDC), under the Ministry of Investment, Trade and Industry (MITI), has entered a strategic partnership with Muslim Friendly Watch (MFW) to accelerate growth in the halal market between Malaysia and China—one of Malaysia's top halal export destinations in 2024 with trade valued at RM7.04 billion. With China's halal industry booming due to a Muslim population of over 20 million and surging demand among non-Muslim consumers, the partnership is designed to streamline access to halal certification for Chinese businesses. Leveraging MFW's Muslim-friendly guidelines and HDC's technical expertise, the collaboration will enable Chinese firms to align with Malaysia's globally recognised halal standards, particularly as China moves to unify its own halal certification system. The initiative will also open doors for Malaysian SMEs to enter China's expanding halal sector via e-commerce platforms, aided by access to digital market ecosystems, business financing, and B2B/B2C matching. Supporting transparency and trust, HDC and MFW will implement the Muslim Choice System, conduct stakeholder engagement, and promote awareness programmes to reinforce Malaysia's halal leadership globally. Hairol Ariffein Sahari, Chief Executive Officer of HDC, said, 'Together with MFW, we aim to strengthen Malaysia-China Halal business relations and leverage digital platforms to expand market access.' Noorman Kamsani, President of Muslim Friendly Watch, added, 'It enables businesses to transition more confidently towards Halal certification, supported by a framework that signifies consumer expectations and industry standards.' The partnership takes effect immediately and underscores Malaysia's ongoing Halal Diplomacy drive in key international markets. Related
New Straits Times
16-05-2025
- Business
- New Straits Times
HDC, Muslim Friendly Watch partner to boost Malaysia-China halal trade
KUALA LUMPUR: Halal Development Corporation Bhd (HDC), an agency under the Ministry of Investment, Trade and Industry, has formed a strategic partnership with Muslim Friendly Watch (MFW) to advance Malaysia's Halal Diplomacy efforts and boost halal trade between Malaysia and China. The collaboration, which takes effect immediately, is designed to deepen halal business ties and enhance digital connectivity between the two nations. HDC chief executive officer Hairol Ariffein Sahari said the partnership aims to support Malaysian small and medium enterprises (SMEs) in breaking into China's expanding halal market by leveraging digital platforms, access to financing, and e-commerce solutions. "Together with MFW, the collaboration will support Malaysian small and medium enterprises entering China's halal market through access to digital ecosystems, financing, and e-commerce platforms," he said. China has emerged as a major player in the global halal industry, driven by a Muslim population exceeding 20 million and growing interest among non-Muslim consumers. In 2024, China was one of the top two destinations for Malaysia's halal exports, reaching RM7.04 billion in food and beverages, palm oil derivatives, industrial chemicals, cosmetics and pharmaceuticals. China's halal market is further expanding due to its Belt and Road Initiative, as well as halal industrial zones in regions like Ningxia and Xinjiang with increasing cross-border e-commerce activity. MFW president Noorman Kamsani added this collaboration enables businesses to transition more confidently towards Halal certification with a framework signifying consumer expectations and industry standards. Through this partnership, HDC and MFW will work on stakeholder engagement, awareness programmes, and the Muslim Choice System to enhance trust and transparency in halal practices.
