Distressed Deals, Workouts and Receiverships

Because cannabis is illegal under federal law, federal bankruptcy courts deny relief to plant-touching and ancillary cannabis businesses and deny remedies to their creditors. Instead, creditors and debtors must look to state receivership, assignments for the benefit of creditors (ABCs), workouts and other alternatives for relief.

These state-based remedies can become highly complicated due to the numerous and often changing state and local cannabis laws and regulations. In this environment, you need experienced counsel that can navigate state receivership and other insolvency proceedings impacting a cannabis business.

Distressed operators present significant opportunities for risk-tolerant, well capitalized investors that are able to execute quickly. These deals offer significant value, from existing licenses to key assets. But understanding and properly navigating the myriad of risks is key.

Meet Our Attorneys

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Edward R. Culhane is a deal lawyer with hands-on experience running and managing businesses. Ed’s clients are venture capital funds, private equity funds, family offices and angel investors. He helps his clients raise and deploy capital in early
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William S. Fulton, Jr. has been helping his clients achieve their business goals for over 15 years. William helps clients navigate the constantly changing state and federal legal landscape governing the exploding marijuana, cannabis and hemp industries, by using his experience to help turn their ideas and dreams into successful businesses.
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