canna law blog

Is Bankruptcy Protection on the Horizon for Cannabis Businesses?

As most of us know, bankruptcy is just not an option for the cannabis industry or those even affiliated with it. To date, courts have generally ruled that debtors who work in the cannabis industry or derive meaningful income from cannabis activity (directly or indirectly) cannot use bankruptcy. This is in response to the U.S.

canna law blog

Cannabis Litigation/Bankruptcy Options: Assignment for the Benefit of Creditors

We recently hosted a webinar on alternative dispute resolution options for cannabis companies. In addition to the handful of questions we received on receivership, one topic of particular interest was the potential for cannabis companies to utilize different restructuring or bankruptcy options. As you might know, a hefty percentage of the disputes we see in

canna law blog

Cannabis Litigation Options: The Benefits of a Receivership

Thank you to everyone who joined us for the “The Top 12 Alternative Dispute Resolution Strategies” webinar last week. We received a ton of questions on a lot of really interesting topics, and we will be spending the next few weeks addressing those we couldn’t fully get to during the one-hour period. We received a

canna law blog

What To Do If Your Marijuana Business Is Failing

Businesses fail. It happens all the time for many different reasons. Painful tax laws, lack of experience of the owners, insufficient capital, and many other triggers can lead to a business’s downfall. Due in large measure to the newness of the marijuana industry this is a fairly stressful time for marijuana business owners, particularly those

canna law blog

Federal Marijuana Legalization: NOT Optional

Though about half of the states and the District of Columbia have legalized or decriminalized the use of marijuana for either medicinal or recreational use, marijuana remains illegal under federal law. Under the federal Controlled Substances Act, marijuana is a Schedule I drug, which means it is deemed to have a high potential for abuse

canna law blog

Marijuana Bankruptcy? Think Again

Be it the IRS, the Bureau of Reclamation, or the banks, the conflict between state and federal laws on marijuana can cause problems to those in the marijuana industry. You should now add filing for bankruptcy to the list. When businesses go (or are near to going) under, they typically file for bankruptcy in a