Pot Co. Nabis Says Ex-CEO Stole Arizona Dispensary

Law360 (October 16, 2020, 7:08 PM EDT) -- A subsidiary of debt-ridden cannabis company Nabis Holdings Inc. has accused its former president and chief operating officer of stealing its dispensary in Arizona following his ouster, asking a state court to return the property as it faces a looming $8.1 million debt payment.

Nabis, nearly $40 million in the red and buffeted by recent resignations from its board of directors, said Thursday that former executive Mark Krytiuk has refused to turn over control of its only revenue-generating property, a medical marijuana dispensary in Phoenix. Loss of its only financial lifeline could spell doom for the company, according to the suit....

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