On September 20, 2023, the U.S. Bankruptcy Court for the Central District of California ("Court") confirmed a plan for a cannabis-related business ("Debtor") to sell its equity interests.
On September 20, 2023, the U.S. Bankruptcy Court for the Central District of California (“Court”) confirmed a plan for a cannabis-related business (“Debtor”) to sell its equity.
Numerous obstacles to unlocking value exist in cannabis: access to capital, high costs, price erosion, and poor management,some stem from federal illegality, which amplifies the need to carefully plan any investment in the cash-intensive cannabis industry
Evidence suggests cannabis, also known as marijuana, has been in use for thousands of years beginning with ancient civilizations. However, the modern history of cannabis arguably.
Until recently, the bankruptcy courts have generally been unavailable for insolvent cannabis companies to liquidate or reorganize. The Office of the United States Trustee (the “UST”).