The cannabis industry is struggling. High taxes, market saturation and competition from outside sources have created a challenging business environment. Unfortunately, when a marijuana business fails, bankruptcy protection is off the table. As a result, the business is left with two options: to liquidate without court supervision, or state-court receivership.
We have spent a lot of time around cannabis receiverships recently. Our cannabis business and debtor/creditor lawyers have represented failing businesses, creditors, receivers, and a number of parties attempting to buy assets out of receivership sales.
Receivership is an equitable remedy, which means courts and receivers have significant leeway in the receivership process. Some states have receivership statutes, while others do not. Sometimes, clients are surprised to learn these facts, or to learn that many experienced debtor/creditor lawyers have never been in or around a receivership.
Please join cannabis insolvency lawyers Ethan Minkin (Arizona), Matthew Goldberg (Oregon, Washington, New York), and moderator Vince Sliwoski (Oregon) for a fascinating Q&A session on cannabis receiverships. Ethan and Matt have over 50 years of debtor/creditor lawyering experience between them, and Vince is a business lawyer who has counseled many clients through financial restructuring and business dissolution.
The conversation should be lively
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