Skip to content

Read Full Article Here: https://www.bnnbloomberg.ca/cannabis-canada-u-s-bankruptcy-access-a-tough-move-for-some-pot-firms-1.1364047

U.S. pot companies left with tough decisions if bankruptcy loomsWhat happens when an embattled U.S. pot company needs to declare bankruptcy?

Thanks to U.S. federal laws that still place cannabis as an illegal drug, firms there are blocked from seeking protection in bankruptcy court, according to Bloomberg News.

Some U.S. companies may also utilize their listing on Canadian exchanges to file for bankruptcy in Canada, according to one bankruptcy lawyer.

Cannabis Canada is BNN Bloomberg’s in-depth series exploring the stunning formation of the entirely new — and controversial — Canadian recreational marijuana industry.

Read more from the special series here and subscribe to our Cannabis Canada newsletter to have the latest marijuana news delivered directly to your inbox every day.

No comment yet, add your voice below!


Add a Comment

Your email address will not be published. Required fields are marked *