Is Bankruptcy Protection on the Horizon for Cannabis Businesses?
Canna Law Blog
SEPTEMBER 14, 2019
As most of us know, bankruptcy is just not an option for the cannabis industry or those even affiliated with it. To date, courts have generally ruled that debtors who work in the cannabis industry or derive meaningful income from cannabis activity (directly or indirectly) cannot use bankruptcy. This is in response to the U.S. Trustee’s office practice of filing motions to dismiss bankruptcy cases where the debtor has a direct or tangential connection to the cannabis industry.
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