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Department of Justice (DOJ) Bankruptcy Code

McGlinchey Stafford

Is The Smoke Clearing For Bankruptcy Access By Cannabis Companies?

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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

Bradley Arant Boult Cummings LLP

Environmental Liability in Bankruptcy: The Comprehensive Environmental Response, Compensation, and Liability Act Perspective

In general, environmental law seeks to protect public health and the environment by providing for liability, compensation, cleanup, and emergency response to the release or disposal of hazardous substances. And more...more

Troutman Pepper

How Cannabis Cos. Are Adapting in Shifting Bankruptcy Arena

Troutman Pepper on

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

Kerr Russell

U.S. Supreme Court to Address Permissibility of Non-Consensual Third-Party Releases in Chapter 11 Bankruptcy Plans

Kerr Russell on

As the calendar turns to autumn, the United States Supreme Court (“SCOTUS”) is commencing its new term and preparing to address a monumental issue that will impact chapter 11 law and the mass tort system: the permissibility...more

Holland & Hart LLP

Why Bankruptcy Is A Budding Alternative For Cannabis Cos.

Holland & Hart LLP on

Bankruptcy can be a remarkable tool for rehabilitating a struggling business, preserving jobs and going-concern value, and liquidating the assets of an insolvent company. The drafters of this country's bankruptcy laws...more

Ballard Spahr LLP

Justice Department announces new guidance for handling bankruptcy discharge of federal student loans

Ballard Spahr LLP on

In conjunction with efforts to forgive federal student debt for certain borrowers, President Biden’s Justice Department recently announced new guidance for its attorneys to use when deciding whether to recommend that a...more

Fox Rothschild LLP

The Circuit City Landmine (Siegel v. Fitzgerald): Supremes Declare Bankruptcy Fee Hike Under United States Trustee Program...

Fox Rothschild LLP on

While it is becoming increasingly rare for the Supreme Court to speak with a singular voice on virtually anything these days, bankruptcy provides a rare exception. On June 6, 2022, the Supreme Court unanimously held in...more

Fox Rothschild LLP

Civil Settlement In PPP Loan Fraud Case Opens New Battle Lines

Fox Rothschild LLP on

The U.S. Justice Department announced its first civil settlement with a Paycheck Protection Program borrower alleged to have committed fraud in connection with this highly popular COVID-19 relief program. A bankruptcy online...more

McGlinchey Stafford

Florida Real Property And Business Litigation Report, Volume 14, Issue 3

McGlinchey Stafford on

City of Chicago v. Fulton, Case No. 19–357 (2021). The mere retention of estate property after the filing of a bankruptcy petition does not violate the automatic stay under 11 U.S.C. §362(a)(3) of the Bankruptcy Code. ...more

Jones Day

New Appellate Court Ruling on Priority of Straddle-Year Taxes in Bankruptcy

Jones Day on

A basic tenet of bankruptcy law, premised on the legal separateness of a debtor prior to filing for bankruptcy and the estate created upon a bankruptcy filing, is that prepetition debts are generally treated differently than...more

Winstead PC

Charges Against Marble Ridge Capital Founder Illustrate the Pitfalls That Await Members of Unsecured Creditors’ Committees Who...

Winstead PC on

On September 3, 2020, the Securities & Exchange Commission charged Daniel Kamensky with abusing his fiduciary position as co-chair of the Neiman Marcus Group Unsecured Creditors’ Committee by pressuring a rival bidder to...more

Patterson Belknap Webb & Tyler LLP

The NAACP Wants In On the Purdue Pharma Bankruptcy. Will the Court Allow It?

On Friday August 7th, the NAACP filed a motion to intervene in the chapter 11 bankruptcy cases of Purdue Pharma L.P. and its affiliated debtors (collectively, “Debtors”). The Motion argues that “[i]ntervention is warranted...more

Buchalter

Cannabis, Cash, and Crime

Buchalter on

ON OCTOBER 2, 2012, kidnappers robbed and abducted a marijuana dispensary owner from his Newport Beach home. They then drove him to the Mojave Desert where they tortured him and demanded that he reveal where he had buried his...more

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