Cannabis Banking

Cannabis Banking: SAFE Banking Act passes House Committee

What is one of the biggest problems facing cannabis businesses today? What to do with the money. Currently, most banks are reluctant to service cannabis businesses as such activity could threaten the bank’s charter since marijuana remains a Schedule I substance federally.  Cannabis banking is certainly a risk for a chartered bank. Cannabis businesses cannot…

Bankruptcy Law Lacks Remedies for Businesses Operating in Violation of the Controlled Substances Act

Entrepreneurs start new businesses knowing they are taking certain financial risks. They recognize that their businesses may fail. Entrepreneurs also know that they can likely obtain some value from the sale, reorganization or liquidation of the failed business.  The Bankruptcy Code facilitates the ability of companies to recover the value from the assets and business…