Posts from 2020.

On the heels of the historic vote by the United Nations, which for the first time recognized the medicinal properties of cannabis and removed it from the most restricted substances under the 1961 Convention on Narcotic Drugs, the United States House of Representatives has voted to decriminalize cannabis. While certainly historic in every sense, this is potentially more of a symbolic moment, displaying the US legislature’s sluggish progress towards accepting the pro-cannabis opinions held by an ever increasing majority of their constituents (2/3 support legalization in some ...

On April 20, 2020, a company called United Cannabis Corp. filed a Chapter 11 bankruptcy case in the United States Bankruptcy Court for the District of Colorado. United Cannabis listed debts to its 20 largest creditors at over $4.9 million. United Cannabis also appears to be a cannabis-related business (or CRB). In other words, it appears that United Cannabis generates at least a portion of its revenue from operating in the cannabis industry. The problem with that is that in almost every case that has been filed in bankruptcy courts across the nation, both CRBs and individuals receiving ...

Lending under the federal government’s Payroll Protection Program (a part of the newly passed Coronavirus Aid, Relief, and Economic Security Act)(the “CARES Act”) began Friday, April 3.  Financial relief under the Small Business Administration’s (the “SBA’s”) newly revamped “Disaster Loan” process has already begun.  In fact, many of the provisions in the CARES Act and similar COVID-19 legislation are aimed at providing financial protections and assistance to businesses struggling during the COVID-19 pandemic.  Yet, one of the nation’s newest and thus ...

Welcome to the Cannabis Business Legal News blog where attorneys from Amundsen Davis blog about all things cannabis business and legal news related. 

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