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
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