Mainstreaming Cannabis: Bankruptcy, Receiverships and Reorganization

February 7, 2024 | Duane Morris LLPA | Webinar

Webinar Replay

The Duane Morris Cannabis Industry Group, the American Trade Association for Cannabis and Hemp and Centri Business Consulting presented Mainstreaming Cannabis: Bankruptcy, Receiverships and Reorganization on Wednesday, February 7, 2024, at 12:00 p.m. Eastern.

About the Program

Cannabis companies face unique challenges due to the federal prohibition of cannabis. Unlike businesses in virtually all other industries, cannabis operators in financial distress have traditionally been unable to obtain the relief of bankruptcy. Given banking restrictions and IRS Code 280E, the unavailability of bankruptcy forces a squeeze on underperforming cannabis businesses. However, recent bankruptcy decisions have revealed a possible “lessening” of prior case law that precluded bankruptcy relief to a cannabis (or even cannabis-related) company. The promise of rescheduling cannabis could possibly open the door to bankruptcy, should it be needed.

Moderator

Seth A. Goldberg, Partner, Duane Morris LLP

Presenters

Kevin McLaughlin, Partner and Cannabis Practice Leader, Centri Business Consulting

Lawrence J. Kotler, Partner, Duane Morris LLP

Ryan Spengler, Associate, Duane Morris LLP

Maxwell Heller, M&A Advisory Practice Leader, Centri Business Consulting

About the Mainstreaming Cannabis Webinars

These webinar programs will cover various topics affecting the cannabis industry in 2024, including real estate, employment, tax, trademark and branding and more. The session will review implications of the possible rescheduling of cannabis from a state and federal level and across other industries.

About the Duane Morris Cannabis Industry Group

Duane Morris attorneys in offices throughout the U.S. and internationally have extensive experience with the wide array of issues attendant to legal cannabis business activities, including licensing for cultivation, processing and dispensing; litigation; banking and finance; raising and deploying capital; mergers and acquisitions; protecting intellectual property; real estate development; public company representation and SEC filings; land use and zoning; healthcare and research; taxation; and cross-border transactions. In addition to advising participants in the medical and adult-use cannabis and hemp/CBD industries, as the industry has grown, Duane Morris attorneys experienced in cannabis-related issues frequently advise clients in other sectors whose businesses intersect with the expanding regulated cannabis sector.

About ATACH

The American Trade Association for Cannabis and Hemp (ATACH) is a 501(c)(6) trade organization founded to promote the expansion, protection and preservation of businesses engaged in the legal trade of industrial, medical and recreational cannabis and hemp based products. ATACH is ushering in the next phase of marketplace expansion by providing a bridge from the cannabis industry to mainstream, name brand, businesses who will be partners in advancing the industry and ending prohibition. The organization is playing a leading role in professionalizing industry representation and facilitating the next generation of the marketplace.

About Centri Business Consulting

Centri Business Consulting is dedicated to providing the highest quality consulting services to its clients by being reliable and responsive to their needs. Centri provides companies with the expertise they need to meet their reporting demands. From complex technical accounting transactions to periodic financial reporting, Centri’s professionals can offer any organization the specialized expertise and multilayered skillsets to ensure the project is completed timely and accurately.