An assignment for the benefit of creditors (ABC) is a process by which a financially distressed company (referred to as the assignor) transfers its assets to a third-party fiduciary (referred to as the assignee). The assignee...more
A seller of goods may gain priority over other creditors, and enhanced prospects for payment, by taking and perfecting a purchase money security interest (PMSI) in the goods sold to a customer. This article will explain what...more
Although the possession and sale of cannabis remain federally illegal under the Controlled Substances Act, the U.S. Department of Justice has largely exercised a general policy of nonprosecution for state-regulated cannabis...more
3/4/2024
/ Agribusiness ,
Bankruptcy Code ,
Bankruptcy Court ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances ,
Controlled Substances Act ,
Creditors ,
Debtors ,
Department of Justice (DOJ) ,
Financial Distress ,
Marijuana ,
Marijuana Related Businesses ,
Medical Marijuana ,
Plant Based Products ,
Recreational Use ,
State and Local Government ,
THC
Though controversial, cannabis has steadily grown into a booming industry. Despite this rapid growth and the legalization of cannabis in numerous states, cannabis is still classified as a Schedule I drug under the Controlled...more
10/25/2023
/ Agribusiness ,
Bankruptcy Code ,
Bankruptcy Court ,
Bankruptcy Plans ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Commercial Bankruptcy ,
Controlled Substances ,
Debtors ,
Financial Distress ,
Insolvency ,
Marijuana ,
Marijuana Related Businesses ,
Popular ,
Receivership ,
Regulatory Oversight