Distressed U.S. marijuana operators remain largely unable to access bankruptcy relief, an ongoing challenge in a tough industry where business failures are common.
But with federal marijuana rescheduling possible in the near future – and with signs of shifting attitudes in recent bankruptcy court cases – reform could be somewhere over the horizon.
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Ryan Spengler, an associate with Philadelphia-based law firm Duane Morris who practices financial restructuring law, is cautiously optimistic that progress in court rulings, combined with rescheduling, could help open the door to new bankruptcy options for U.S. plant-touching marijuana companies.
“If there’s a movement from these bankruptcy courts before rescheduling even happens, if rescheduling were to happen, you would expect more courts to take similar stances – if not more
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