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Dispensaries Commercial Bankruptcy

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

Nelson Mullins Riley & Scarborough LLP

The Unfair Contradiction of the Conflict of State and Federal Laws on the Bankruptcy Proceedings of Dispensary Employees

There is seemingly, in the opinion of a great number of bankruptcy courts, a conflict between the United States Bankruptcy Code requirements that a debtor reorganize or liquidate “in good faith,”  the federal Controlled...more

Lowndes

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

Lowndes on

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

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

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

Burns & Levinson LLP on

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

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

Burr & Forman

Court Denies Creditor’s Motion to Dismiss Chapter 11 Case Despite Multiple Factors in Favor of Dismissal

Burr & Forman on

In a recent case out of the bankruptcy court for the Southern District of Florida (the “Court”), a secured creditor moved to dismiss a debtor’s bankruptcy case “for cause” based on the debtor’s bad faith filing. The debtor...more

Locke Lord LLP

Navigating the Maze of Medical Cannabis - Uncertainty and the Challenge of Obtaining Banking and Insurance Services for...

Locke Lord LLP on

The current and two immediate past presidents have smoked it. As one leading expert commented during a congressional hearing, perhaps “marijuana is a gateway drug to the White House?” Medical marijuana is now legal in...more

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