Kathryn Brown authored the article “Prepare Workplace Policies for Legalized Cannabis,” which was published in the Legal Connections section of Columbus Business First.
On November 7, 2023, Ohio made history when a majority of voters approved Issue 2, a proposed law to control and regulate cannabis for Ohioans 21 and older. In so doing, Ohio became the 24th state to legalize cannabis for adult use without a medical card. Read the full article.
Lawrence Kotler and Ryan Spengler authored The Legal Intelligencer article, “Bankruptcy Court Sides With Cannabis Business (Twice) in Reorg Plan.”
“In contrast with a majority of bankruptcy courts that routinely dismiss cannabis-related cases for perceived violations of the Controlled Substances Act (CSA), the U.S. Bankruptcy Court for the Central District of California in the recent opinion In re Hacienda, No. 2:22-BK-15163-NB, (Bankr. C.D. Cal. July 11, 2023), refused to conform to the same historical standard. Instead, the Bankruptcy Court struck down the U.S. trustee’s motion to dismiss not once but twice in favor of confirming a marijuana business’ Chapter 11 plan of reorganization.”
Read the full article.
Dylan Anderson and Seth Goldberg authored the Law360 article “Why Hemp-Synthesized Intoxicants Need Uniform Regs.”
They write, “The next time you find yourself at a gas station loading up for a road trip on your snack or energy drink of choice, you may notice a surprising offering at the counter: products made from cannabis that have an intoxicating effect, but that are not governed under a state’s recreational or medical marijuana laws and regulations.” Read the full article.
A replay of the webinar Distressed Cannabis M&A is available.
Tracy Gallegos, partner and team lead of the Duane Morris Cannabis Industry Group, discussed the cannabis industry’s mergers and acquisitions (M&A) landscape at the Benzinga Cannabis Capital Conference on September 27, 2023.
The discussion also touched upon the rescheduling of cannabis, with differing opinions on its likelihood. Ms. Gallegos said she skeptical due to formal rulemaking processes and international treaty considerations.
Read the full article on Benzinga.com.
Paul Josephson, partner and team lead of the Duane Morris Cannabis Industry Group, moderated a fireside chat with U.S. Virgin Islands Governor Albert Bryan Jr. at the Benzinga Cannabis Capital Conference on September 27, 2023.
“A governor who really gets economic development,” as Josephson said, Bryan said the region is on the cusp of an unprecedented economic surge. “We have a $4-billion economy right now. And we have $15 billion in sales over the next 10 or so years.”
Read more on the Benzinga website.
Duane Morris partner Michael Schwamm has been named to Green Market Report’s 2023 list of Notable Leaders in Cannabis, which recognizes industry professionals who have demonstrated a willingness to effect meaningful change in a dynamic industry.
Read Mr. Schwamm’s profile in the publication.
On August 29, 2023, the U.S. Department of Health and Human Services responded to President Biden’s October 2022 call for a federal review of marijuana scheduling: The drug should be rescheduled as a Schedule III controlled substance. Below, we explore questions on the tax ramifications to the cannabis industry if marijuana is rescheduled as such.
Read this Duane Morris Alert for FAQs on cannabis rescheduling.
I have been touting the benefits of medical marijuana for nursing home/senior care residents for many years now. As a cannabis attorney, as well, I have been immersed in the research and studies, showing how marijuana can benefit nursing home residents, just like any other drug our residents may take for their well-being.
But the risks of utilizing marijuana in the nursing home, I’ve been stating, have been too great. Marijuana remains a Schedule I federally illegal controlled substance, and, as such, the Controlled Substances Act defines cannabis and its distinct cannabinoids as possessing “a high potential for abuse … no currently accepted medical use … [and] a lack of accepted safety for the use of the drug under medical supervision.”
Read the full column by Duane Morris partner Neville M. Bilimoria in McKnight’s Long-Term Care News.