Minnesota recently legalized cannabis sale and use, creating a new legal industry almost overnight. Businesses in any new industry will necessarily face financial challenges, but with bankruptcy options limited for cannabis-related entities, can receivership law provide a mechanism for assisting these types of companies?
The Eighth Circuit became the most recent circuit to rule that avoidance causes of action are property of the bankruptcy estate and may be sold. How does this impact the practice of selling avoidance causes of action in both Chapter 7 and Chapter 11 cases? Does the Eighth Circuit’s decision open the door to the granting of a pre-petition security interest in avoidance causes of action?
A Florida bankruptcy court recently approved the first known Prepack Subchapter V plan. Can Prepacks work in Subchapter V? And what issues should practitioners be aware of?
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