June 2020

Cannabis Law Journal

Cannabis Law Journal

June 2020 Edition

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DLA Piper: Financial Relief for Hemp Businesses in Response to COVID-19 and the Coronavirus Food Assistance Program Barriers

DLA Piper: Financial Relief for Hemp Businesses in Response to COVID-19 and the Coronavirus Food Assistance Program Barriers

In late April, the US House of Representatives and Senate voted to pass a $484 billion economic stimulus package providing further aid to small businesses, which was signed by the President. The bill provides additional funding for the small business lending program that had quickly been depleted, and it appears that the hemp industry is positioned to take advantage of this new round of funding.

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Carter Ledyard & Milburn LLP:  Cannabis, COVID-19 and Force Majeure

Carter Ledyard & Milburn LLP: Cannabis, COVID-19 and Force Majeure

Due to the federal illegality of cannabis, companies operating in the sector are caught between a rock and a hard place. As we previously wrote, neither federal aid (including Economic Disaster and Paycheck Protection Program loans), nor bankruptcy protection, are available.[2] Like many other businesses caught in the maelstrom, cannabis companies are no doubt scouring their leases and supply contracts for force majeure provision (or other similar provisions), to see if they provide any relief.

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Garner Ginsburg & Johnsen: Cannabis Taxation

Garner Ginsburg & Johnsen: Cannabis Taxation

Businesses in the cannabis industry are no stranger to complex and largely unintuitive laws and regulations governing their operations. What they may not be aware of, however, are the unique and burdensome tax requirements resulting from operating in an industry that is still illegal under federal law.

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Shook Hardy & Bacon: Cashed Out – Bankruptcy and Alternatives for Distressed Companies in the Cannabis Industry

Shook Hardy & Bacon: Cashed Out – Bankruptcy and Alternatives for Distressed Companies in the Cannabis Industry

The cannabis industry must now attempt to rebound in the midst of an ongoing pandemic; however, unlike other industries, it has less tools available to it.[8] With bankruptcy and its protections generally unavailable, marijuana producers and the ancillary industries that serve them must look elsewhere for ways to liquidate or restructure businesses and seek protections from creditors. This article provides an overview of the current state of the legal developments in bankruptcy proceedings of marijuana-related businesses and state-based options these businesses may utilize.

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Marne Coit, JD, LLM: Action Needed for North Carolina’s Hemp Program

Marne Coit, JD, LLM: Action Needed for North Carolina’s Hemp Program

As we approach the October 31, 2020 deadline when all state pilot programs are set to expire, North Carolina (NC) faces a unique challenge in terms of how to proceed with its hemp program. Action is needed by either the state legislature and/or the United States Congress in order to allow for continuity of the hemp program.

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Buddle Findlay: A new medicinal cannabis scheme for New Zealand

Buddle Findlay: A new medicinal cannabis scheme for New Zealand

It may seem that the big item on the cannabis law reform agenda is the upcoming referendum on recreational cannabis (which is discussed in more detail in our update here).  However, the new Medicinal Cannabis Scheme (the Scheme) that came into effect on 1 April 2020 represents significant law reform in this area.

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A Biz In A Box – Article 4/4:  Salvaging Equity Programs

A Biz In A Box – Article 4/4: Salvaging Equity Programs

This article focuses on the “Cannabis Equity Programs” a number of local jurisdictions have established.  These programs are largely the product of a politically driven social policy.  Cannabis Equity Programs attempt to remedy inequities that flowed from the “War on Drugs” that immorally injured so many.

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A Biz In A Box – Article 1/4:  Cannabis California & Covid-19

A Biz In A Box – Article 1/4: Cannabis California & Covid-19

Our first article summarizes our views on the impact of the COVID-19 crisis on the cannabis industry with respect to financial record-keeping and tax reporting issues. More accurately stated, we will address the impact of the economic depression triggered by the COVID-19 crisis on the financial future for the cannabis industry.

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Cannabis Law Journal – Editorial Board Members

Editor – Sean Hocking

Author Bios

Canada
Matt Maurer – Minden Gross
Jeff Hergot – Wildboer Dellelce LLP

Costa Rica
Tim Morales – The Cannabis Industry Association Costa Rica

Nicaragua
Elvin Rodríguez Fabilena

USA

General
Julie Godard
Carl L Rowley -Thompson Coburn LLP

Arizona
Jerry Chesler – Chesler Consulting

California
Ian Stewart – Wilson Elser Moskowitz Edelman & Dicker LLP
Otis Felder – Wilson Elser Moskowitz Edelman & Dicker LLP
Lance Rogers – Greenspoon Marder – San Diego
Jessica McElfresh -McElfresh Law – San Diego
Tracy Gallegos – Partner – Fox Rothschild

Colorado
Adam Detsky – Knight Nicastro
Dave Rodman – Dave Rodman Law Group
Peter Fendel – CMR Real Estate Network
Nate Reed – CMR Real Estate Network

Florida
Matthew Ginder – Greenspoon Marder
David C. Kotler – Cohen Kotler

Illinois
William Bogot – Fox Rothschild

Massachusetts
Valerio Romano, Attorney – VGR Law Firm, PC

Nevada
Neal Gidvani – Snr Assoc: Greenspoon Marder
Phillip Silvestri – Snr Assoc: Greenspoon Marder

Tracy Gallegos – Associate Fox Rothschild

New Jersey

Matthew G. Miller – MG Miller Intellectual Property Law LLC
Daniel T. McKillop – Scarinci Hollenbeck, LLC

New York
Gregory J. Ryan, Esq. Tesser, Ryan & Rochman, LLP
Tim Nolen Tesser, Ryan & Rochman, LLP
Cadwalader, Wickersham & Taft LLP

Oregon
Paul Loney & Kristie Cromwell – Loney Law Group
William Stewart – Half Baked Labs

Pennsylvania
Andrew B. Sacks – Managing Partner Sacks Weston Diamond
William Roark – Principal Hamburg, Rubin, Mullin, Maxwell & Lupin
Joshua Horn – Partner Fox Rothschild

Washington DC
Teddy Eynon – Partner Fox Rothschild