The Duane Morris Cannabis Industry Group,
the American Trade Association for Cannabis and Hemp
and Centri Business Consulting invite you to
Bankruptcy, Receiverships and Reorganization
Wednesday, February 7, 2024 | 12:00 p.m. to 1:00 p.m. Eastern
About the Program
Cannabis companies face unique challenges due to the federal prohibition of cannabis. Unlike businesses in virtually all other industries, cannabis operators in financial distress have traditionally been unable to obtain the relief of bankruptcy. Given banking restrictions and IRS Code 280E, the unavailability of bankruptcy forces a squeeze on underperforming cannabis businesses. However, recent bankruptcy decisions have revealed a possible “lessening” of prior case law that precluded bankruptcy relief to a cannabis (or even cannabis-related) company. The promise of rescheduling cannabis could possibly open the door to bankruptcy, should it be needed.
During this panel, participants will learn:
- The legal background and current state of bankruptcy laws
- The business impact of the restructuring options available to the cannabis industry
- How rescheduling cannabis will change financial and bankruptcy options for the industry
About the Mainstreaming Cannabis Programs
These webinar programs will cover various topics affecting the cannabis industry in 2024, including real estate, employment, tax, trademark and branding and more. The session will review implications of the possible rescheduling of cannabis from a state and federal level and across other industries.
About the Duane Morris Cannabis Industry Group
Duane Morris attorneys in offices throughout the U.S. and internationally have extensive experience with the wide array of issues attendant to legal cannabis business activities. In addition to advising participants in the medical and adult-use cannabis and hemp/CBD industries, as the industry has grown, Duane Morris attorneys experienced in cannabis-related issues frequently advise clients in other sectors whose businesses intersect with the expanding regulated cannabis sector.
The American Trade Association for Cannabis & Hemp (ATACH) is a 501(c)(6) trade organization founded to promote the expansion, protection and preservation of businesses engaged in the legal trade of industrial, medical and recreational cannabis and hemp based products. ATACH is ushering in the next phase of marketplace expansion by providing a bridge from the cannabis industry to mainstream, name brand, businesses who will be partners in advancing the industry and ending prohibition. The organization is playing a leading role in professionalizing industry representation and facilitating the next generation of the marketplace.
About Centri Business Consulting
Centri Business Consulting is dedicated to providing the highest quality consulting services to its clients by being reliable and responsive to their needs. Centri provides companies with the expertise they need to meet their reporting demands. From complex technical accounting transactions to periodic financial reporting, Centri’s professionals can offer any organization the specialized expertise and multilayered skillsets to ensure the project is completed timely and accurately.