Cannabis Bankruptcy Relief Broadens With Delaware Court Ruling

David Cohen of Weil, Gotshal & Manges, Jason Rosell of Pachulski Stang Ziehl & Jones, John Cannizzaro of Ice Miller, Leah Eisenberg of Pashman Stein Walder Hayden and Jonathan Robbins of Akerman comment on the Delaware bankruptcy court’s recognition of The Cannabist Company’s Canadian CCAA proceedings, explaining that the first Chapter 15 recognition of a cannabis company may create a narrow but important cross-border restructuring pathway for Canadian cannabis businesses with US operations, even as federal illegality, public policy objections and limits on Chapter 11 relief continue to constrain the sector.

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