Dealing with Financial Distress for Cannabis Companies
The United States federal bankruptcy process was created in order to allow struggling companies the opportunity to restructure in an orderly manner with the oversight and protection of special bankruptcy courts. However, because cannabis continues to be classified as a Schedule I drug under the Controlled Substance Act, cannabis companies are currently unable to benefit from the protections afforded under the federal bankruptcy process. In this webinar, we will highlight recent court cases aimed at lifting the ban on cannabis companies receiving federal bankruptcy relief, explore alternatives for distressed cannabis companies and review other considerations for cannabis companies nearing insolvency.
- William Gray, Jr., Partner, Foley Hoag LLP
- Kenneth Leonetti, Co-Managing Partner, Foley Hoag LLP
- Erica Rice, Partner, Foley Hoag LLP