Biden DOJ Not Likely To Open Bankruptcy Up To Pot Cos.
Law360 (January 20, 2021, 5:50 PM EST) -- The incoming Biden administration likely presents a more cannabis-friendly U.S. Department of Justice, but that's not likely to alter the U.S. Trustee Program's strong stance against marijuana-tied bankruptcies, experts told Law360.
The U.S. Trustee Program is not typically a DOJ department that changes with administrations, and the long-time director has taken a particularly hard line on businesses that the program determines to be violating the Controlled Substances Act.
But even if the program were directed to ease up on state-legal marijuana businesses, its success in getting pot-related cases tossed — including United Cannabis Corp.'s Chapter 11 petition just last week —...
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