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...
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...
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...
The U.S. Bankruptcy Code provides relief to debtors to maximize value for the benefit of their creditors and other stakeholders. Such relief is extremely limited when debtors are state-legalized marijuana businesses, as they are denied access to Bankruptcy Courts because the manufacture,...
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...
The Medicare Accelerated and Advance Payments Program (MAAP) allows the Centers for Medicare and Medicaid Services (CMS) to accelerate payments to Medicare providers and suppliers to help offset financial losses due to a disruption in claims processing or during a public health emergency such as...
Many healthcare companies, both for-profit and nonprofit, are facing increasing financial distress, causing many of them to seek relief under Chapter 11 of the U.S. Bankruptcy Code to restructure their financial obligations, sell substantially all of their assets, or implement an orderly plan of...
Last year, when I sat down to write the guest editor’s column for the 2020 healthcare issue, we were reeling from a pandemic that not only was straining our already overtaxed healthcare system but also exacerbating the socio-political fissures that have dominated headlines, created misinformation,...
The U.S. experienced the lowest total number of bankruptcy filings since 1986 last year, including individuals filing for bankruptcy, a somewhat surprising statistic given the devastating impact of the pandemic-driven shutdowns across the United States and around the world. Bucking that trend,...
