Marijuana Bankruptcy: The Answer is Still “No”
Canna Law Blog
SEPTEMBER 21, 2022
The struggles of failing marijuana businesses to wind down and pay creditors in an orderly fashion serve no one. Among the problems marijuana businesses face such as lack of access to banking and onerous taxation stemming from IRC 280E is the lack of access to bankruptcy proceedings. This post discusses a Michigan-based medical marijuana company that filed for Chapter 7 bankruptcy and the federal court case affirming the dismissal of the marijuana company’s bankruptcy petition.
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