How a Cannabis Company Is Entering U.S. Bankruptcy Court Through the Side Door

Brett Axelrod and Keith Owens of Fox Rothschild highlight The Cannabist Company’s Chapter 15 filing in Delaware, ancillary to a Canadian CCAA proceeding, as a potentially precedent-setting cross-border restructuring strategy that could let cannabis enterprises access US bankruptcy protections through foreign recognition despite domestic Chapter 11 barriers, with significant implications for COMI structuring, Section 1506 public policy challenges, creditor enforcement stays, and future cannabis insolvency cases.

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