A California court recently confirmed a plan for a cannabis-related business to sell its equity assets in a Canadian cannabis company and distribute the proceeds to creditors, a milestone ruling that may open a new path for...more
10/13/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
California ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances Act ,
Corporate Counsel ,
Creditors ,
DEA ,
Debt Restructuring ,
Debtors ,
Department of Health and Human Services (HHS) ,
Liquidation ,
Schedule I Drugs
The federal bankruptcy courts are largely inaccessible to companies that operate in the cannabis space¹. While cannabis companies cannot wholly avoid pending lawsuits, or the ability to restructure or maximize value through a...more
Although the use of cannabis has been legalized in approximately 39 states and the District of Columbia¹ , cannabis is still illegal federally and classified as a Schedule I drug under the Controlled Substances Act. As a...more