Cannabis in Bankruptcy
The panel briefly addresses the historical use of cannabis in America for medicinal purposes and the subsequent criminalization of cannabis, which was racially motivated. The panel then discusses the challenges faced by corporate entities that seek to obtain bankruptcy protection when at least a portion of their income is derived from the sale or cultivation of cannabis, the lease of space to cannabis companies, or the sale or manufacture of products used in connection with a cannabis business. The panel also discusses the nonbankruptcy options for these entities, as well as the financial hurdles faced by such entities. Finally, a representative from a community bank in Maryland discusses the services that her bank is able to provide to cannabis dispensaries.