Insolvency in Cannabis: Access to Bankruptcy Courts, How to Prepare Your Clients, and Alternatives to the Federal System (2019)

As more states adopt cannabis use programs, the number of individuals and businesses engaged in the cannabis industry, either as growers or sellers, or as ancillary service or goods providers, continues to expand.  This webinar will address issues that arise when cannabis businesses or individuals deriving income from the cannabis industry seek relief provided by the federal bankruptcy laws.

  • Is bankruptcy an option for growers and sellers?

  • Is bankruptcy an option for ancillary businesses?

  • Does access to bankruptcy depend on the relief the debtor is seeking, i.e. reorganization of debt under chapter 11 or 13, versus a liquidation under chapter 7?

  • What alternative state court remedies are available?

  • What are the shortcomings of state court remedies in comparison to the relief available under the bankruptcy code?

Speaker:

Patricia Heer is a co-founder of the Cannabis Law Digest, which contains cannabis statutes and regulations, industry specific articles, agency guidelines, and state and federal cannabis court decisions digested by industry attorneys into easy to read summaries. Patricia has historically practiced in the area of commercial litigation and business reorganization. Prior to founding the Cannabis Law Digest, Patricia practiced law at Duane Morris in both litigation and transactional areas, which enables her to advise clients in the rapidly shifting cannabis industry. 

Jason Rosell is a senior associate at Pachulski Stang Ziehl & Jones LLP.  His experience includes representing debtors and creditors in complex cross-border insolvency cases.  He is a member of the boards of the Turnaround Management Association Northern California chapter and Bay Area Bankruptcy Forum.  He holds a bachelor’s degree in Computer Information Systems, MBA, and JD from Arizona State University.