Because cannabis is illegal under federal law, plant-touching and ancillary cannabis businesses are generally denied access to federal bankruptcy courts. Instead, those facing insolvency must look to state receivership and other alternatives for relief.
These processes can be especially tricky for licensed cannabis businesses, which are subject to a wide variety of constantly evolving state and local regulations. Vicente Sederberg is highly experienced in this area of the law and can help you every step of the way.
Our attorneys are uniquely qualified to help business owners and creditors navigate state receivership and other insolvency proceedings that directly or indirectly involve cannabis business licenses. We are deeply familiar with the nuance and complexity of state and local cannabis regulations, and we have unparalleled experience dealing with cannabis regulators. We are also well-positioned to assist, with offices in California, Colorado, Florida, Massachusetts, and New York.
By Phil Silverman
May 20, 2020
The U.S. is facing its gravest economic crisis since the Great Depression due to the coronavirus pandemic. These 10 concepts are not necessarily unique to cannabis businesses, but in an industry that’s already subject to greater federal, state and local scrutiny, they can serve as a guide for those seeking to relieve their financial stress.
By Charles Alovisetti, Phil Silverman, Jason Adelstone
Apr 17, 2020
Bankruptcy law provides advantages for financially distressed companies to restructure debt while continuing to operate. Without access to U.S. Bankruptcy Code protections, marijuana companies must turn to out-of-court restructurings and state law insolvency proceedings.
