Philadelphia and Wilmington partner Andy Kassner and associate Joe Argentina recently published an article in the Legal Intelligencer titled, “Bankruptcy Plans Go Up in Smoke: Marijuana Grower Denied Relief.”
In a recent decision, the United States Bankruptcy Appellate Panel of the Tenth Circuit (BAP) held that the debtors, licensed marijuana producers in Colorado, were not eligible for federal bankruptcy protection because they were engaged in a business which violated federal law.
Andy and Joe discuss the court’s reasoning in the case, which presents an example of how the strange legal web involving marijuana legalization under state law while still being illegal under federal law can play out.
Read: Bankruptcy Plans Go Up in Smoke: Marijuana Grower Denied Relief
