With few exceptions, a cannabis-related business (CRB) will be denied access to relief under the U.S. Bankruptcy Code (11 U.S.C. ยง 101, et seq.) (Bankruptcy Code) because marijuana remains a controlled substance under the...more
In the final episode of our three-part series, "Exploring Issues in Cannabis and Bankruptcy," McGlinchey's Cannabis Group Co-Chair, Heidi Urness, along with colleagues Timothy Byrd and Rudy Cerone, will delve into the...more
It is no secret that cannabis businesses and owners remain largely barred from taking advantage of federal bankruptcy protections, leaving distressed marijuana businesses with limited restructuring options. Most often,...more
In the second installment in a three-part series exploring issues in cannabis and bankruptcy, McGlinchey attorneys Heidi Urness, Timothy Byrd, and Rudy Cerone dive into the bankruptcy protections available to businesses,...more
Starting a cannabis business is often discussed, but maintaining a business, particularly during a downturn in the industry, is a completely different ballgame. Pockets of the cannabis industry are experiencing financial...more
If you work for a cannabis business, then bankruptcy relief may not be available to you, according to the In re Blumsack decision out of the U.S. Bankruptcy Court for the District of Massachusetts. Whether an employee works...more