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In this episode, Hilary Bricken sits down with Richard Ormond, one of the nation’s leading cannabis receivers and an expert in cannabis receiverships. Richard, a partner at Buchalter and the owner of Stone Blossom Capital,...more
Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. For the month when Paul Atkins was sworn in as SEC Chairman, we examine: • The SEC’s...more
On May 9, 2025, David Johnson gave his presentation “Bad Boys, Bad Boys: Ramification for Intentional Breaches of Fiduciary Duties by Trustees,” to the Corpus Christi Estate Planning Council. This presentation addressed the...more
In 周惠明 v 挪信新能源科技 ( 南通 ) 有限公司 [2025] HKCFI 1503h, the Hong Kong Court of First Instance ordered (a) that worldwide Mareva injunctions be continued, and (b) that interim receivers be appointed over the assets of the respondent...more
In this issue of Insolvency Now, we continue to report on data trends from Q3 and Q4 of 2024, during which we noticed that the number of insolvency filings had steadily decreased compared with the previous year, returning to...more
A receivership is an equitable remedy in which an independent third party is appointed by a court to manage and preserve a company’s assets. Though bankruptcy and receiverships are similar, there are significant differences...more
Our new insightful and informative series, “Protecting Lenders: Strategic Responses to Borrower Default," is designed to provide comprehensive guidance on managing borrower defaults effectively. This four-part series covers...more
Q: I am involved in pending litigation and would like to get a receiver appointed. The facts of the case, however, don’t exactly fit into the types of cases enumerated in Cal. Civ. Pro. Code §564(b). Is there some other bases...more
In Estate of Richards, a probate court entered an order appointing a receiver of estate property. No. 11-23-00031-CV, 2024 Tex. App. LEXIS 8626 (Tex. App.—Eastland December 12, 2024, no pet. history)....more
This past year, in the wake of significant economic challenges facing the health care industry, an unprecedented number of receiverships were imposed upon skilled nursing facilities in Massachusetts. Historically,...more
In Harrington v. Purdue Pharma L.P., the Supreme Court held that the Bankruptcy Code does not authorize a bankruptcy court to grant a release and injunction that extinguishes direct claims against nondebtor third parties...more
Receivership is often considered when other remedies would be inadequate, providing a flexible alternative to more rigid legal processes like traditional litigation. It's particularly valuable when parties are unable to...more
Several significant judicial decisions occurred in 2024 that are relevant to commercial lenders and businesses as well as restructuring professionals. This bulletin summarizes the key developments of 2024 and highlights areas...more
Q: I am a state court receiver in a case that has been disrupted by a bankruptcy filing. The bankruptcy trustee has been threatening to sue me, in the bankruptcy court, for what she claims were negligent actions and to...more
A Segregated Portfolio Company (SPC) provides for the protection of the assets held under one portfolio by ring-fencing them from the liabilities of other portfolios in the same company. SPCs were introduced in the Cayman...more
Cayman Islands law permits the registration of segregated portfolio companies (“SPC”). An SPC is a single company which segregates its assets and liabilities amongst various “portfolios”. Benefits in adopting the SPC...more
Based on a recent article in the Green Market Report (and corresponding public filings), “$1.83 billion of . . . debt is set to come due by 2026” for a number of publicly traded multi-state cannabis operators (“MSO”s). While...more
In this issue of Insolvency Now, we report on the data trends we are seeing so far in 2024 compared with when we first started tracking data in 2019. Key Takeaways: •Overall, we are seeing a marked increase in filings,...more
We are seeing an increasing number of enquiries from lenders and their advisors in respect of the practicalities of enforcement by receivers of English security granted by overseas entities. Real estate property transactions...more
A typical receivership order does not limit the ability of a managing member to seek limited liability company bankruptcy relief for distressed real estate or other enterprises. An enterprise, even if in receivership,...more
Remnant LLC v. Permico Royalties LLC, et al determined that a 90-year-old claim to ownership of a forfeited corporation was not valid. The players - Hoffman: By most accounts a scoundrel and con man who plied his...more
Q: I have a client who owes money to the IRS. While I know the IRS likely has a tax lien, my understanding was it just waits until a taxpayer’s property is sold and then gets paid out of escrow. Instead, here, the IRS has...more
Q: I am a receiver for a partnership. I was appointed pursuant to a stipulation between the current partners and a secured creditor. After an extensive investigation, I have sued the former managing partner and her mother to...more
Despite the excitement of many over rescheduling cannabis from Schedule I to Schedule III, the move does not make cannabis “legal” unless it is produced, sold, and used within the tightly regulated parameters of the...more
On May 15, 2024, Alabama became the thirteenth state to adopt a version of the Uniform Law Commission’s Uniform Commercial Real Estate Receiver Act (the “Act”). The Act seeks to bring more direction and clarity to...more