Cannabis Law Now Podcast - The 4-1-1 on Cannabis Receiverships from a Top Cannabis Receiver
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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
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
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 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
Though controversial, cannabis has steadily grown into a booming industry. Despite this rapid growth and the legalization of cannabis in numerous states, cannabis is still classified as a Schedule I drug under the Controlled...more
Bankruptcy is Not an Option - Bankruptcy can be a very helpful tool for a distressed business. Bankruptcy allows a business to stop collection actions, discharge certain debts, cancel unfavorable contracts, and provides...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
Recreational or medicinal cannabis is now legal in 35 states and the District of Columbia. But cannabis is still a Schedule I controlled substance under the federal Controlled Substances Act, which presents a host of problems...more
We’ve focused a lot on third-party releases lately, as bankruptcy courts across the country continue to evaluate whether and under what circumstances they are permissible. But, as a recent opinion of the United States Court...more
Question: Unauthorized Transfers of Receivership Property: Void, Voidable or Ok? Answer: In a recent unpublished bankruptcy appellate panel decision (In Re Domum Locis, LLC, 2015 WL 4697747 (9th Cir. BAP 2015)), the BAP...more