[ad_1] As those in the cannabis industry are fully aware, the option of bankruptcy has not been available to cannabis or many cannabis-adjacent businesses to date. The courts have consistently indicated debtors who work in the cannabis industry or derive meaningful income from cannabis activity (directly or indirectly) cannot use bankruptcy, a federal mechanism, so long as marijuana remains illegal under federal law. The seminal Arenas decision from 2014 observed that things get especially awkward…
"New Opinion Confirms Growing Trend Away from “Zero Tolerance” Cannabis Bankruptcy Relief Policy"