Based on a recent article in the Green Market Report (and corresponding public filings), “$1.83 billion of . . . debt is set to come due by 2026” for a number of publicly traded multi-state cannabis operators (“MSO”s). While...more
11/21/2024
/ Cannabis-Related Businesses (CRBs) ,
Commercial Bankruptcy ,
Creditors ,
Debt ,
Debtors ,
Insolvency ,
Marijuana ,
Multistate Corporations ,
Popular ,
Privately Held Corporations ,
Receivership
At the outset of the Covid-19 pandemic, some commentators were preparing for a mass extinction event in the retail industry, characterized by hundreds of brick-and-mortar store closings, massive job losses, and numerous...more
1/12/2023
/ CARES Act ,
Chapter 11 ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Credit Insurance ,
Debtors ,
Landlords ,
Paycheck Protection Program (PPP) ,
Retailers ,
Unsecured Debt ,
Vendors
Cryptocurrency platform BlockFi Inc.—another casualty of the collapse of exchange FTX earlier this month—filed a Chapter 11 bankruptcy petition this morning in the New Jersey Bankruptcy Court (Case No. 22-1936). BlockFi joins...more
On Friday, November 11, 2022, FTX and approximately 130 of its affiliates filed, or will soon file, Chapter 11 bankruptcy petitions in the District of Delaware. FTX’s CEO, Sam Bankman-Fried, also known as SBF, who until...more