DOJ In Court Arguing Against extending bankruptcy protections for cannabis companies,

The Wall Street Journal, the U.S. Department of Justice continues to argue in court against extending bankruptcy protections for marijuana companies, and there’s no solution on the horizon unless Congress acts to remedy the situation.

At issue is a longstanding Justice Department policy that bankruptcy can’t be used to protect federally illegal businesses, including state-approved marijuana companies, a DOJ spokesperson told the Journal.

Here’s a report by MJ Biz

‘Essential’ designation does not help cannabis companies’ bankruptcy cases

The WSJ piece ( behind paywall)

The Justice Department is preventing struggling cannabis businesses and their workers from accessing bankruptcy to weather the coronavirus-related downturn, even in states that determine medical marijuana is an essential industry during the pandemic.

The department’s policy means the financial safety net that bankruptcy provides consumers who fall behind on their mortgages or car payments is likely out of reach for those who work in the marijuana industry or businesses supporting state-regulated dispensaries or growers.

https://www.wsj.com/articles/justice-department-blocks-essential-marijuana-workers-from-bankruptcy-protection-11590694160?utm_medium=email&utm_source=newsletter&utm_campaign=MJD_20200529_News_Daily

 

Pure CBD Hemp Oil

• Pure CBD Tincture, derived from organic, US-harvested hemp, lab-tested for quality.

• Clinically proven therapeutic effects.

• Relieves anxiety and stress

• Eliminates chronic pain and aches

• Regulates mood and sleep patterns

• Enhances focus and clarity
  
  
  

additional info, George Scorsis
Originally posted on DOJ In Court Arguing Against extending bankruptcy protections for cannabis companies, via Cannabis Industry News