News & Analysis as of

Insolvency Cannabis-Related Businesses (CRBs) Commercial Bankruptcy

Ice Miller

Puff, Puff, Pass the Assets: Purchasing Distressed Assets in the Cannabis Sphere

Ice Miller on

Following years of explosive growth and regulatory change, the cannabis industry is at a turning point. Initial enthusiasm has fallen to harsh realities, and many cannabis businesses must address mounting financial pressure,...more

Harris Beach Murtha PLLC

New Cannabis Litigation Questions New York’s Compliance with Governing Laws

Harris Beach Murtha PLLC on

A new lawsuit recently commenced within the Onondaga County Supreme Court alleges the New York State Office of Cannabis Management (“OCM”) and the New York State Cannabis Control Board (“CCB”) have allegedly handled New York...more

Husch Blackwell LLP

Cannabis Receiverships Are (and Will Be) On the Rise

Husch Blackwell LLP on

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

McGlinchey Stafford

Impacts of Cannabis Rescheduling on Bankruptcy

McGlinchey Stafford on

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 Locke

Bankruptcy in the Cannabis Space

Troutman Pepper Locke on

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

J.S. Held

The Distressed Cannabis Business: An Alternative to Bankruptcy

J.S. Held on

Bankruptcy is Not an Option - Bankruptcy can be a very helpful tool for a distressed business. Bankruptcy allows a business to stop collection actions, discharge certain debts, cancel unfavorable contracts, and provides...more

McGlinchey Stafford

Podcast: Cannabis and Bankruptcy, Ep. 1: Considerations for Individuals [More with McGlinchey, Ep. 53]

McGlinchey Stafford on

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

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