They don’t want to foreclose on property if it can be avoided. Timothy Byrd: In terms of creditors dealing with a distressed cannabis company, it’s important to note that creditors do not want to hold collateral. If that’s the case, what are the alternatives to creditors of this industry? In fact, Hacienda seems to make clear that bankruptcy is not going to be available to most cannabis businesses because of their ongoing conduct in the industry. ![]() So, even though all of the parties in Hacienda, it sounds like, wanted the matter to remain in bankruptcy court, Hacienda doesn’t necessarily stand for that proposition. Timothy Bird is a commercial litigator with bankruptcy experience, and Rudy Cerone brings more than 40 years of experience in all sides of bankruptcy law. Joining me today are two of my firm colleagues in our New Orleans office. ![]() Heidi Urness: I’m Heidi Urness, chair of McGlinchey’s Cannabis Practice Group and resident in Seattle.
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