Agricultural bankruptcies present special and specific issues. The nature of the collateral and the seasonality of the business present a host of questions that need to get answered in order to preserve any value in the...more
Industrial hemp, once grown throughout the United States and already the powerhouse behind the billion dollar cannabidiol (“CBD”) industry, is poised for a resurgence as an agricultural commodity. ...more
In a recent opinion, the Second Circuit Court of Appeals held that a seller licensed under the Perishable Agricultural Commodities Act (“PACA”) could not entirely setoff payables owed to a bankrupt PACA merchant against...more
Originally enacted in 1930, the Perishable Agricultural Commodities Act (“PACA” or the “Act”) has been amended over the years in a number of ways to address the changing landscape of the produce industry.
Originally...more