Hemp Producer Says Insurance Lapse No Reason To Go Ch. 7

Law360 (May 22, 2020, 5:33 PM EDT) -- Hemp producer GenCanna on Friday asked a Kentucky bankruptcy judge to reject a request by the U.S. Trustee's Office to convert its bankruptcy case to a Chapter 7 liquidation, saying a lapsed property insurance policy is not a sufficient reason for conversion.

GenCanna argued that a Chapter 7 trustee would have no more luck than it has in finding a new policy for the disused property at issue and that conversion would derail the work the company has put in toward an orderly wind-down of its business.

GenCanna, which makes CBD products from processed industrial hemp, filed for bankruptcy in February,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!