Proceed with Caution: Chapter 15 at the Intersection of the CSA and Bankruptcy Code
The growing trend of cannabis legalization in the United States and abroad has created a level of uncertainty for U.S. cannabis operations experiencing financial distress. In particular, because cannabis remains illegal at the federal level, cannabis and cannabis-adjacent businesses have largely...
A View from the North: Canada’s Experience with Legalised Cannabis
Canada is the first G7 nation to federally legalise the use of cannabis for both medical and recreational use, and can be considered the world leader in a global trend of deregulation. Starting in 2001, authorized medical patients were legally able to access cannabis through the Medical Marijuana...
Marijuana-Related  Businesses Ineligible for Remedies Under Federal Law Have Other Options
More and more U.S. states have legalized the cultivation, distribution, and use of marijuana. Some states have legalized it only for medical purposes, while others have also legalized it for recreational purposes. As two examples, New York State recently enacted the Marijuana Regulation and...
Pandemic Sparks Exponential Growth  in Grocery Delivery Services
While the COVID-19 pandemic wreaked havoc on many industries in the global economy, e-commerce usage among everyday consumers skyrocketed during this unprecedented time. The increase in online purchasing was a direct result of the pandemic, as consumers opted to stay at home and rely on the...
Considering Independent Directors to Improve Governance of Family-Owned Businesses
Family-owned businesses (FOBs) are a vital part of the U.S. economy, constitute the realization of the American dream for many, and play a critical role in the creation of generational wealth. There are 5.5 million FOBs in the United States, and they contribute 57% of the total gross domestic...
Restructuring German Family Businesses
Family businesses are of immense importance for the German economy. According to the Institute for small and medium size business research (IfM), approximately 3.7 million companies belong to the so-called German Mittelstand, which is the backbone of the German economy. Around 95% of those medium-...
Helping Family Business Leaders Avoid Disaster
The same qualities that help the leaders of family businesses survive and thrive can also lead to their downfall. Stubbornness and determination can be strengths while building a business or leading it through change, but these qualities can also damage a company if they blind a leader to festering...
UK Family Businesses
Family businesses offer a unique perspective in business management, which is often anything but textbook, exhibiting many attributes which often are at the root cause of their demise. Many of those attributes are common features of family businesses worldwide and don’t just apply to those in the...
SBRA Creates New Opportunities  to Restructure Family-Owned Businesses
Every month or so, another household name— e.g. , PG&E, Neiman Marcus, Hertz—commences a Chapter 11 case to restructure its balance sheet, reset its relationships with its creditors collectively, and leave its legacy problems in the past. The U.S. Bankruptcy Code is a carefully crafted and...
How Nonprofit Fiduciary Duties Impact  Healthcare Restructuring
“Where was the board during this?” is not a question any nonprofit board member wants to hear, but it is one that is often asked. Thus, what are board members’ responsibilities during a distressed nonprofit healthcare organization’s search for a financial solution? This article focuses on nonprofit...