Attorneys Robert Hendricks and Elisabeth Von Eitzen discuss financially distressed businesses in the marijuana industry. As it stands, bankruptcy relief is not available to debtors in the marijuana industry, compounding financial difficulty for debtors and creditors until federal law allows legalized marijuana. In Michigan, however, our legislature authorized the Marijuana Regulatory Agency to allow marijuana businesses with financial difficulties to be transferred to a state court receiver. This is an important step in normalizing the marijuana industry. View the video below.
Cannabis Businesses in Financial Distress: Receivership - New Remedy on the Horizon
Look for additional Warner podcast recordings in the near future from Warner’s Cannabis Industry Group.