July 11 2024,

safe harbor financial

THE BIG IDEA

Hi all,

Here’s a SCOOP with some good news for struggling operators.

  • Federal judge widens path to bankruptcy relief

Stay cool,

Alex

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WEEDWEEK CALIFORNIA PRO

Bankruptcy

SCOOP: Federal judge widens path to bankruptcy relief

A federal judge’s ruling could expand access to bankruptcy protections for some cannabis businesses and their owners.

In late June, U.S. bankruptcy judge Dennis Montali denied a landlord’s motion to dismiss a Chapter 7 bankruptcy filing by a San Francisco tenant whose assets…

Read the story

Financial

QUICK HITS

Federal:

Business:

  • Green Thumb Industries is facing criticism from nonprofit Cannabis Equity Illinois Coalition over its opposition to a equity bill in the big MSO’s home state.
    @cannaequityil
  • A Cookies-branded Massachusetts social equity dispensary sued several entities claiming they failed to pay an agreed upon purchase price of $2M for a minority stake. Cookies president Parker Berling said neither Cookies nor CEO Berner are involved in the management of the companies being sued. (Cookies typically licenses its brand to partners rather than operate licensed businesses.)
    Worcester Business Journal
  • Canna Law Blog shared tips on how to avoid misinformation online. It also discussed the impact of the Corporate Transparency Act, which took effect this year.
  • A three story pot shop is coming to Times Square.
    Crain’s New York

State and local:

R.I.P.

  • Florida’s “Patron saint” of MED Cathy Jordan died at 74.
    Marijuana Moment

Fun and interesting:

CALIFORNIA HITS

State:

  • Laws now in effect require disposable vapes to be advertised as “one use” and impose tougher disposal requirements.
  • Advocates warn that hemp bill AB 2223 would make certain vital medicines much more difficult to acquire.
    SFGate
  • The state legislature passed a bill intended to accelerate psychedelics research.
    Marijuana Moment

Business:

Local:

Crime:

Company milestones:

Recognition:

HIGH SOCIETY

Courtesy: Muha Meds

Muha Meds co-founders Ali and Muhammad Garawi celebrate the opening of their second California store in LA’s Westwood neighborhood.

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