Bankruptcy Courts Remain Inaccessible To Cannabis Cos.

Law360 (January 7, 2020, 5:54 PM EST) -- Courts struggled last year to find a balance between state-licensed cannabis activity and the federal right to seek bankruptcy protection under the Bankruptcy Code. During 2019, we had the first circuit-level opinion in the bankruptcy/cannabis space that appeared to open the door to bankruptcy courts, albeit slightly. We also had lower court opinions slamming that door shut.

Below, we look at a few of the most important decisions issued throughout 2019 and analyze the current state of the law.

The Ninth Circuit's Garvin Decision

On May 2, 2019, the U.S. Court of Appeals for the Ninth Circuit issued its decision in Garvin...

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