Pot Co. Nabis Settles With Ex-Exec Amid Debt Reshuffle

Law360 (November 23, 2020, 9:30 PM EST) -- Canadian cannabis company Nabis Holdings Inc. announced on Monday that it had settled a dispute with a former executive amid a plan to restructure the business' $35 million debt.

The heavily indebted Vancouver-based company had taken former president and chief operating officer Mark Krytiuk to court in Arizona and Ontario, Canada, alleging that he had refused to turn over control of Phoenix medical marijuana dispensary Perpetual Healthcare Inc.

When the Arizona suit was filed in October, Nabis said Perpetual was a vital source of revenue for the financially troubled company, and that Krytiuk had managed to maintain control of it despite...

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