Recently, Colin Campbell took part in the Clark Hill webinar series exploring receiverships as a bankruptcy alternative and other workout solutions for cannabusinesses.
As it stands, companies operating in the cannabis space, or ‘cannabusinesses’ cannot avail themselves to the protections afforded by U.S. Bankruptcy Courts. Therefore, alternatives to bankruptcy have become a crucially important consideration. A legal procedure, known as a receivership, is a key option for struggling cannabusinesses that can’t turn to federal bankruptcy court because marijuana remains illegal under U.S. law.
Watch the webinar to learn how financially struggling cannabusinesses can utilize the court system to obtain some financial breathing room, the history of receiverships in cannabis, and tips to bridge the gap between receiverships as a bankruptcy alternative and other workout solutions for cannabusinesses.
Click here to watch the webinar.