GenCanna Drops $4.5M Suit Over Medterra's Unpaid Bills

Law360 (January 4, 2021, 4:16 PM EST) -- Bankrupt hemp company GenCanna has dropped its adversary suit against CBD company Medterra over what it said was $4.5 million in unpaid invoices, saying the lawsuit was actually "based on a misconstruction of facts and circumstances."

GenCanna, now known as OGGUSA Inc. after the company sold its assets as part of its Chapter 11 bankruptcy, sued Medterra last month, claiming it accepted shipments of CBD extracts and other products without paying in full. But GenCanna dropped the suit Dec. 30, according to court records.

In a statement, GenCanna said it withdrew its complaint and has resolved the dispute with Medterra. GenCanna...

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