Businesses that are looking to reduce or eliminate debts and return to profitability may choose to declare bankruptcy. However, until federal law changes, plant-touching and ancillary cannabis businesses cannot access federal bankruptcy courts. Instead, cannabis companies facing insolvency must use state receiverships or out-of-court workouts to restructure an insolvent business. But what does that mean, and what is the right choice for your business?
As our team is handling the first cannabis receivership in Massachusetts,
Join us for a live session on Thursday, February 16 at 12 p.m. MT / 2 p.m. ET for a discussion on the practical issues around the receivership of cannabis companies.
Topics of discussion include:
- Why care about receivership? Understanding the context of the cannabis industry and why a business would consider receivership
- Receivership process: how a receiver gets appointed, and the typical timeline of a receivership
- Considerations around the selection of a receiver and qualifications to run a cannabis business
- Role of a receiver and unique issues in the cannabis industry
- State-by-state cannabis licensing issues concerning receivership
- What does success look like in the receivership context?
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Private Business Attorney Veriheal
Americans For Safe Access: “2022 State of the States Report: An Analysis of Medical Cannabis Access in the United States.