On December 18, 2023, the day New York’s cannabis regulators wrapped up their initial cannabis licensing application period, the state was hit with yet another lawsuit seeking to halt the licensing of adult-use retail...more
A New York judge approved settling a lawsuit filed by a group of service-disabled veterans, granting the group a provisional license and paving the way for more than 400 provisional licensees to open marijuana dispensaries....more
A California court recently confirmed a plan for a cannabis-related business to sell its equity assets in a Canadian cannabis company and distribute the proceeds to creditors, a milestone ruling that may open a new path for...more
10/13/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
California ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances Act ,
Corporate Counsel ,
Creditors ,
DEA ,
Debt Restructuring ,
Debtors ,
Department of Health and Human Services (HHS) ,
Liquidation ,
Schedule I Drugs
New York begins accepting applications for certain adult-use cannabis licenses Oct. 4.
Applications for cultivator, processor, distributor, microbusiness and retail dispensary licenses will be available on the New York...more
New York is opening up its cannabis market to cultivator, processor, distributor, microbusiness and retail dispensary applicants beginning Oct. 4, a move that could finally spur significant sales, but one criticized by some...more
With the U.S. Department of Health and Human Services (HHS) officially recommending cannabis be moved from a Schedule I drug to a Schedule III drug, the cannabis industry is one step closer to alleviating interstate commerce...more
A state Supreme Court Justice issued a stern ruling Aug. 18 criticizing the state’s legal cannabis program and stopping it from issuing new retail licenses.
State Supreme Court Justice Kevin R. Bryant ruled a veterans...more
New York Supreme Court Justice Kevin Bryant issued a temporary restraining order blocking new marijuana retail licenses in the wake of a lawsuit filed by a group of service-disabled veterans.
The temporary restraining...more
While adult use cannabis has been legal in New York State for nearly three years, legal retailers are in short supply, largely due to the many obstacles the Office of Cannabis Management (OCM) encountered while drafting and...more
The “gray” marijuana market of pop-up storefronts, smoke shops, bodegas, and mobile stores throughout the New York state have been illegally selling marijuana while the Office of Cannabis Management (“OCM”) finalizes...more
Delays in rolling out New York retail cannabis dispensary licenses prompted one legislator to introduce a bill to allow the state’s struggling cannabis cultivators to sell directly to consumers.
The Cannabis Crop Rescue...more
A New York-based coalition has accused the state’s Office of Cannabis Management and Cannabis Control Board of “unconstitutional overreach” in its management of the state’s legalized cannabis effort and asked a judge to...more
After a recent exposé by NY Cannabis Insider found conflicts between the actual and advertised levels of THC in several strains of legal recreational cannabis available for sale, the state of New York has changed testing...more
It has been four months since U.S. District Court Judge Gary Sharpe issued an injunction barring the New York Office of Cannabis Management (OCM) from issuing any conditional adult-use retail dispensary (CAURD) licenses in...more
When many states, including New York, legalized marijuana, they established residency requirements to ensure state residents receive the financial benefits of legalization in their own state and to curtail outside entities...more
Call it a conundrum: the passing of the Marijuana Regulation and Taxation Act (“MRTA”) allowed New Yorkers 21 years or older to use recreational marijuana legally but provided no legal way to purchase it.
The result was...more
On December 29, 2022, over 18 months after cannabis became legal to sell in New York State, the first retail dispensary is scheduled to open. This begs the question – should it have taken this long?...more
While many continue to push for the federal legalization of cannabis, one cannabis company is strategically using its illegality as a shield. The strange case of Thor 942 Fulton St., LLC v Future Transactions Holdings, LLC...more
The federal bankruptcy courts are largely inaccessible to companies that operate in the cannabis space¹. While cannabis companies cannot wholly avoid pending lawsuits, or the ability to restructure or maximize value through a...more
Although the use of cannabis has been legalized in approximately 39 states and the District of Columbia¹ , cannabis is still illegal federally and classified as a Schedule I drug under the Controlled Substances Act. As a...more
A dispute making its way through Canadian courts shows how cannabis companies in the United States face stiff challenges raising money to expand their operations, even as states begin regulating cannabis markets across the...more
The Office of Cannabis Management in New York state has provided further guidance on how adult-use conditional cultivators (AUCCs) must measure and report the square footage of their flowering canopy to remain compliant with...more
Innovative Industrial Properties, Inc. (“IIPR” as listed on the NYSE) is a real estate investment trust (“REIT”) focused on the acquisition, ownership and management of specialized industrial properties leased to experienced,...more
For the first time since 1981, New York will lower the interest rate on money judgments based on consumer debts from nine percent (9%) per annum to two percent (2%) per annum. Governor Kathy Hochul signed the bill, S5724-A,...more
On April 21, 2021, the Federal Aviation Administration’s (FAA) long awaited final rules regarding the use of drones took effect and are a significant step toward their eventual use for widespread commercial deliveries. ...more