Civil Litigation,
Bankruptcy,
Administrative/Regulatory
May 14, 2019
Ruling provides cannabis companies hope for the future
As more states begin to legalize medical and adult-use cannabis, there will be more non-cannabis companies seeking to join their services to the new market. While the industry has thus far emerged during favorable economic conditions, that may not always be the case, and many businesses will find themselves in financial trouble.
The U.S. bankruptcy courts have been a hostile environment for troubled cannabis businesses and the ancillary businesses that serve them. A new 9th U.S. Circuit Court of Appeals decision may provide some hope for the future.
In Garvin v. Cook Investments, NW, SPNWY, LLC, 2019 DJDAR 3689 (May 2, 2019), the 9th Circuit ruled ...
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