View Page As PDF
Share Button
Tweet Button

Yet another problem for aspiring legal marijuana businesses...

 

marijuanabankruptcy_cropped_iStock_000016461824_Medium.jpg

 

Last week, a federal bankruptcy judge in Denver ruled that marijuana businesses can't use bankruptcy for protection from creditors. This decision is consistent with decisions of other federal bankruptcy courts. These decisions turn on the fact that marijuana is illegal at the federal level. So, even if the federal government doesn't take all the assets of the business in forfeiture or taxes, the creditors might. One more reason to think carefully before entering the marijuana market.

+