“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.”
Duane Morris is hosting the webinar, “Cannabis 401: How to Prevent Your Cannabis Investment from Going Up in Smoke: Tips for Having a Successful Cannabis Workout,” on February 25, 2021, from 12:30 p.m. to 1:30 p.m.
Please visit the firm website for more information and to register.
On June 8, 2017, Clifford J. White III, director of the U.S. Trustee Program, proclaimed before a congressional subcommittee that “debtors with assets or income derived from marijuana may not proceed through the bankruptcy system.”
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