As you know, cannabis is a tough industry to be successful in…especially with high costs, heavy taxes, and extreme competition.
It’s not only tough for the operators, but it can also be tough for investors to watch their investment struggle to provide a positive return.
Since bankruptcy is not an option for cannabis businesses, the next best option could be receivership.
Receivership allows a court-appointed person to either attempt to turn the business around or help liquidate assets and pay off obligations including debt owed to investors, but of course, there are many nuances to the process.
Click on a state below to see the details about receivership
Have you invested into a cannabis business and the operators (or even your co-founder) misrepresented their capabilities or ability to execute?
Are you and your co-founders finding it incredibly difficult to come to any consensus about the future of the cannabis business which has created an unstable environment
Has a key member of your team taken or used money for their personal benefit and not to grow the business?
Has a fiduciary in your cannabis business failed to observe laws or guidelines when handing the finances including negligence or neglect of their duty?
Has your cannabis business taken on too much debt that they cannot reasonably pay back and need to get out of the obligations?
Has your business entered into a joint venture agreement and the deal has gone completely sideways?