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Marijuana Commercial Bankruptcy

McGlinchey Stafford

Impacts of Cannabis Rescheduling on Bankruptcy

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Despite the excitement of many over rescheduling cannabis from Schedule I to Schedule III, the move does not make cannabis “legal” unless it is produced, sold, and used within the tightly regulated parameters of the...more

Troutman Pepper

Navigating the Storm: Receiverships in the Cannabis Industry

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With rapid technological advances, expanded regulatory oversight, and constantly shifting market dynamics, owning and operating a business in the modern world has become an increasingly difficult challenge. Chief among the...more

Bradley Arant Boult Cummings LLP

Dude, Where’s My Liquidation?

Every election it seems like the country inches closer to cannabis being legal at the federal level. Until that day comes, however, the question of whether those in the cannabis industry can seek bankruptcy relief remains....more

Troutman Pepper

Bankruptcy in the Cannabis Space

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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

Greenberg Glusker LLP

Cannabis and Bankruptcy Laws

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Greenberg Glusker bankruptcy and financial restructuring partner Keith Banner joins his colleagues Alexa Steinberg and Steve Stein for a look at the intersection of cannabis and bankruptcy law. Can cannabis companies obtain...more

DarrowEverett LLP

Does Involvement in the Cannabis Industry Preclude Your Business From Bankruptcy Protection?

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Despite the growing public acceptance of marijuana and the fact that a majority of states have legalized marijuana for medicinal purposes (37 states and the District of Columbia have enacted medical marijuana legislation),...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

Robins Kaplan LLP

Financial Daily Dose 7.9.2020 | Top Story: United Airlines Warns of Layoffs Affecting 40% of Its Workforce This Fall

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United Airlines is preparing to furlough as many as 36,000 workers—“nearly 40 percent of its global work force”—if the travel industry remains weak as summer turns into fall. The October 1 cuts would coincide with the end of...more

Lowndes

Marijuana Tenants and the Effects on Landlord’s Rights in Bankruptcy

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Though states continue to legalize the use and sale of marijuana for medicinal and recreational uses, under federal law, marijuana remains an illegal “Schedule 1” drug pursuant to the Controlled Substances Act. ...more

Foley & Lardner LLP

A Look Ahead: Forecasting the Top Legal Issues Facing In-House Counsel in 2020

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In this ever-changing economy, businesses are facing new, unique legal questions and challenges now more than ever. On November 21, 2019, Vanessa Miller and Nick Ellis of Foley & Lardner LLP, along with The Association of...more

Goulston & Storrs PC

Stay in the Know: Recent Developments in Trademark Law

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Retailers generally appreciate that their brands are among their most valuable assets. But it can be challenging for them to know how current trademark law will affect their selection, registration, and enforcement of those...more

Bradley Arant Boult Cummings LLP

Marijuana-Related Debtors' Case Survives Dismissal in Ninth Circuit - Cannabis Industry News Alert

A recent decision by a federal appeals court appears to open the doors of United States Bankruptcy Courts nationwide… or does it? The Ninth Circuit’s decision from Garvin v. Cook Investments provides a helpful roadmap for...more

Burns & Levinson LLP

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

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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

Burns & Levinson LLP

Don’t Bank(ruptcy) On It: In re Adair

Burns & Levinson LLP on

The U.S. Justice Department (“DOJ”) has said that an Oregon woman who is employed by a marijuana staffing agency cannot use bankruptcy protection because of her firm’s ties to the cannabis industry. The U.S. Trustee—a DOJ...more

Ward and Smith, P.A.

Are the Bankruptcy Courts Available for the Cannabis Industry?

Ward and Smith, P.A. on

Since 2012, ten states and the District of Columbia have legalized marijuana for adult recreational use. Another 23 states have legalized some form of medical marijuana use. At the federal level, the Agriculture...more

Davis Wright Tremaine LLP

Ninth Circuit Considers Availability of Bankruptcy to Cannabis-Related Businesses

The value of the legitimate cannabis industry in the United States (measured by annual sales) is rapidly approaching $10 billion and expected to exceed $20 billion within the next five years....more

Lowndes

Not So High on Bankruptcy – Limited Options for Medical Marijuana Companies Facing Insolvency

Lowndes on

It may be hard to believe, but it’s been 22 years since California became the first state to permit the legal use of medical marijuana. In the years since, it has been impossible to ignore the changing tide of public opinion...more

Amundsen Davis LLC

A Crack In The Courthouse Doors For Marijuana Related Businesses And The Availability Of Bankruptcy Protection

Amundsen Davis LLC on

A recent decision from the Bankruptcy Appellate Panel of the Ninth Circuit is another in a small, but growing line of cases finding that bankruptcy cases need not be mandatorily dismissed simply because they touch upon...more

Burns & Levinson LLP

Green Hands Aren’t Unclean Hands: 9th Circuit BAP Retreats from Mandatory Dismissal in Marijuana Cases

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A 92-year-old landlord who leased a storefront to a marijuana dispensary will receive a new hearing after a court dismissed her bankruptcy case on the grounds that acceptance of rent payments from the dispensary disqualified...more

Fox Rothschild LLP

The Green Elephant In The Room: In Re Olson, 2018 WL 989263 (B.A.P. 9th Cir. Feb. 5, 2018)

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Is a landlord who accepts rent from a cannabis dispensary tenant entitled to bankruptcy relief in a federal forum? In In re Olson, 2018 WL 989263 (B.A.P. 9th Cir. Feb. 5, 2018), the Bankruptcy Appellate Panel for the Ninth...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

Farrell Fritz, P.C.

Cannabis Business? The Impact of Federal Law Might Reach Further Than You Think.

Farrell Fritz, P.C. on

Everyone involved, or thinking about becoming involved, in the cannabis business is aware of the conflict between the laws of those states legalizing marijuana and the Controlled Substance Act (the “CSA”). The CSA is a...more

Troutman Pepper

Cannabis Industry FAQ

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Can marijuana businesses receive federal copyright protection? Yes. The requirements for registration with the U.S. Copyright Office are that the work is original, creative and fixed in some form of expression. These...more

Pierce Atwood LLP

Under the Dome: Inside the Maine State House

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Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Double Whammy in Maine’s Paper Industry - This past week, two northern Maine paper mills...more

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