Cannabis businesses should keep the ABC in mind if they begin to struggle. As the cannabis industry becomes a greater part of our economy, more practitioners need to be aware of the solutions to risks that come with running a business associated with cannabis. While the federal government appears to have taken a mostly hands-off approach with states with their own regulatory schemes, that does not address the concerns of a failing cannabis business. The ABC addresses those concerns and can serve as a valid substitute for filing for bankruptcy.
Edward S. Adams, When Cannabis Businesses Fail: Assignment for the Benefit of Creditors as an Alternative to Bankruptcy, 2022 ULR 967 (2022). https://doi.org/10.26054/0d-b8ct-exgf