Overview

Marijuana related business clients face unique challenges when confronted with economic difficulties. While cannabis remains federally illegal, bankruptcy court protection is denied to plant-touching and, in some circumstances, ancillary companies. But there remain other judicial and non-judicial options to operators, secured creditors, investors, and other stakeholders.

Led by trailblazing, award-winning attorneys, Burns & Levinson’s Cannabis Business & Law Advisory group has represented cannabis-related companies since 2013. Our group leverages its unparalleled, decades-long extensive experience and expertise in corporate and financial restructurings and workouts in the noncannabis sector to enable our clients to achieve the results they need and deserve during challenging financial times. Our two chairs – Frank A. Segall and Scott Moskol – have represented (non-cannabis) companies in bankruptcies, state court and federal receiverships, judicial and non-judicial assignments for benefit of creditors (“ABC”), Article 9 secured party sales, commercial real estate foreclosures, and creditor litigation, as well as the negotiation and restructuring of debt obligations totaling billions over the years, and they bring this wealth of knowledge and experience to our cannabis clients.

While bankruptcy protection is not available for THC companies – for now – there remains a wide array of options for us to utilize in the protection of our client’s rights and remedies. That said, hemp and CBD companies, following the passage of the 2018 Farm Bill, can and have filed for bankruptcy protection. We routinely represent clients in bankruptcy and bankruptcy related litigation, whether as debtor counsel, counsel to the secured creditor, or counsel to a purchaser looking to acquire assets out of a bankruptcy via a 363 sale.

Moreover, we represent all stakeholders in such insolvency related matters –whether secured creditors, borrowers, acquirers, landlords, investors, equity holders, or vendors. We know that such financial circumstances will provide major opportunities for buyers to take advantage of such strategic opportunities and guide them through such distressed acquisitions. We understand that different tactics and strategies need to be employed depending upon who is being represented, which can only come from true experience over the past 30 years. This is our promise and value-proposition to all our clients – Simply stated, we have no learning curve given our unmatched experience and extensive cannabis knowledge, and we will best protect your interests and help you achieve and exceed your goals.

Professionals