News & Analysis as of

Chapter 11 Agribusiness

Seward & Kissel LLP

Bad Idea Genes, Pension Plan (?), and Vertical Integration

Seward & Kissel LLP on

23andMe files for bankruptcy, Anne Wojcicki steps down as CEO | CNBC - Genetic testing company 23andMe filed for Chapter 11 bankruptcy protection in Missouri federal court. Anne Wojcicki, co-founder and CEO, has resigned...more

Tonkon Torp LLP

Distressed Cannabis Companies Find Hope with New Bankruptcy Ruling, Potential Substance Rescheduling

Tonkon Torp LLP on

A recent court decision shows an evolving stance toward cannabis companies facing financial distress and seeking bankruptcy protection. Taken together with the U.S. Department of Health and Human Services recommending that...more

Fox Rothschild LLP

In re The Hacienda Company, LLC – Round 2: Bankruptcy Courts May be Available to Non-Operating Cannabis Companies to Liquidate...

Fox Rothschild LLP on

As discussed in our earlier blog post, In re The Hacienda Company, LLC – a Flicker of Hope for Distressed Cannabis Companies: Bankruptcy May be Available to Liquidate Assets of Non-Operating Cannabis Companies | In Solvency...more

DarrowEverett LLP

Does Involvement in the Cannabis Industry Preclude Your Business From Bankruptcy Protection?

DarrowEverett LLP on

Despite the growing public acceptance of marijuana and the fact that a majority of states have legalized marijuana for medicinal purposes (37 states and the District of Columbia have enacted medical marijuana legislation),...more

Amundsen Davis LLC

What’s In A Name? When Is A Farmer A Family Farmer Under The Bankruptcy Code?

Amundsen Davis LLC on

The United States Bankruptcy Code contains a special bankruptcy chapter for family farmers with regular income. Chapter 12 of the Bankruptcy Code allows family farmers to reorganize in a preferred way. For example, a family...more

The Rodman Law Group, LLC

Bankruptcy Alternatives for the Cannabis Industry

As many Americans are faced with the fallout of the COVID-19 pandemic, some business owners are now tasked with creating a clear path forward without traditional means of financial relief. Of its many tragic consequences,...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

Rumberger | Kirk

Narrow Bankruptcy Reforms Make Big Changes for Small Business, Vets, Farmers

Rumberger | Kirk on

Three important pieces of bankruptcy legislation were signed into law this summer. The legislation did not make substantial structural changes to the bankruptcy system, but the laws do meaningfully impact three important...more

Womble Bond Dickinson

Family Farmer Relief Act Expands Chapter 12 Bankruptcy Protections for Small and Mid-Sized Farms

Womble Bond Dickinson on

Running a family-owned farm is not easy work under the best of economic circumstances, and it can be nearly impossible when times are tough. More than 30 years ago, during the mid-1980s, John Cougar Mellencamp’s mournful song...more

BCLP

Bankruptcy Code Amended: Congress Makes Chapter 12 More Accessible to Family Farmers and Creates New Chapter 11 Subchapter for...

BCLP on

On August 23, 2019, President Donald J. Trump signed into law two bills amending the Bankruptcy Code: (i) the Family Farmer Relief Act of 2019 (“FFRA”); and (ii) the Small Business Reorganization Act of 2019 (“SBRA,” and with...more

Husch Blackwell LLP

New Legislation Likely To Spur Increase In Bankruptcy Filings

Husch Blackwell LLP on

On August 23, President Trump signed into law two new pieces of legislation—the Family Farmer Relief Act of 2019 and the Small Business Reorganization Act of 2019—that will likely lead to an increase in bankruptcy filings...more

Ward and Smith, P.A.

New Law More than Doubles Chapter 12 "Family Farmer" Debt Limit

Ward and Smith, P.A. on

On Friday, August 23, 2019, the President signed into law the Family Farmer Relief Act of 2019. The Act increases the debt limit used to determine whether a family farmer is eligible for relief under Chapter 12 of the...more

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