United Cannabis Corp. Files For Ch. 11 In Colo.

By Diana Novak Jones (April 21, 2020, 10:43 PM EDT) -- A cannabis company known for testing the waters with intellectual property filed a Chapter 11 bankruptcy petition in Colorado on Monday, creating what could be another test case for the industry.

On April 20, a day normally reserved for celebrations of marijuana, United Cannabis Corporation filed a petition for reorganization before a federal bankruptcy judge. Most bankruptcy courts have been hostile to cannabis businesses given their federally illegal status, but United Cannabis has a unique situation.

Colorado-based United Cannabis, whose shares trade on the over-the-counter market, has said in U.S. Securities and Exchange Commission filings that its focus is on manufacturing...

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!

TRY LAW360 FREE FOR SEVEN DAYS

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!