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Controlled Substances Act Bankruptcy Court Commercial Bankruptcy

McGlinchey Stafford

Is The Smoke Clearing For Bankruptcy Access By Cannabis Companies?

McGlinchey Stafford on

With few exceptions, a cannabis-related business (CRB) will be denied access to relief under the U.S. Bankruptcy Code (11 U.S.C. § 101, et seq.) (Bankruptcy Code) because marijuana remains a controlled substance under the...more

Nelson Mullins Riley & Scarborough LLP

The Unfair Contradiction of the Conflict of State and Federal Laws on the Bankruptcy Proceedings of Dispensary Employees

There is seemingly, in the opinion of a great number of bankruptcy courts, a conflict between the United States Bankruptcy Code requirements that a debtor reorganize or liquidate “in good faith,”  the federal Controlled...more

Patterson Belknap Webb & Tyler LLP

Bankruptcy Court Won’t Dabble in Case Concerning a Marijuana Business

“[E]nsnared between his involvement in a business that is legal under the laws of Arizona but illegal under federal law,” one debtor’s chapter 13 petition was recently dismissed due to his undisputed violations of the...more

Farella Braun + Martel LLP

Alternatives to Bankruptcy in the Cannabis Sector

Recreational or medicinal cannabis is now legal in 35 states and the District of Columbia. But cannabis is still a Schedule I controlled substance under the federal Controlled Substances Act, which presents a host of problems...more

Burns & Levinson LLP

Sowing the Seeds of Marijuana Bankruptcy: a Look at Garvin v. Cook

Burns & Levinson LLP on

In a recent post, we discussed the ongoing personal bankruptcy case In Re Adair, in which a a United States Trustee is seeking to have the court dismiss a Chapter 13 plan of an individual that is employed by a...more

Nelson Mullins Riley & Scarborough LLP

High Court Faced with the Issue of Marijuana Legalization in Bankruptcy

It was only a matter of time before the budding state laws legalizing marijuana use ran up against the federal government’s treatment of the drug as a controlled substance – and what better place for the two sides to meet...more

Obermayer Rebmann Maxwell & Hippel LLP

Bankruptcy Courts Just Say No to the Marijuana Industry

Despite growing public acceptance of marijuana and the wide-spread passage of state laws legalizing marijuana for medicinal and even recreational purposes, marijuana remains a criminal offense under federal law which presents...more

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