Marijuana Law & Debt
The legal Marijuana Industry is a booming area of business on the West Coast – including California, Nevada, Oregon, Washington, Colorado and other states. The Marijuana business industry is not immune to the common business problems that arise in any business. In fact, many businesses experience growing pains and often need legal counsel to negotiate or reorganize debts to allow the business to continue to grow and prosper.
Marijuana related businesses, however, face unique challenges. Where an agriculture business may take advantage of the many benefits of a chapter 12 bankruptcy to reorganize debt, a marijuana grower is not afforded the benefits of reorganization under the U.S. Bankruptcy Code. The U.S. Bankruptcy Code is federal law, which does not recognize the legality of the marijuana industry. But, that does not mean marijuana related businesses do not have options.
Our firm is on the forefront of innovative strategies to assist Cannabis industry businesses with debt issues, growing pains, and reorganization. We see the legal Cannabis industry facing challenges on the federal level because changes in state laws have outpaced that of the federal government. A keen understanding of the legislative process is important in an industry that is marked with rapid changes. In 2016, Ms. Doling was honored with the Hammes-Shulman Legislative Advocacy Award for her work to enact sweeping legislative changes to assist those constituents inside bankruptcy and outside. We understand what it takes to make change. We understand what it takes to help businesses.
Our firm employs years of experience and proven strategies to negotiate non-bankruptcy plans of reorganization directly with suppliers, distributors, creditors, landlords, equipment lessors, vendors, advertisers, and taxing authorities. If your business is associated with the marijuana industry and you need assistance negotiating debts or restructuring, call our firm immediately. The sooner you develop a plan, the sooner you can get back to what you do best.