Up in smoke
shutterstock.com/Dmytro Tyshchenko
The newly legalised cannabis industry was one of the most active sources of work for Canadian restructuring practitioners over the past year. But as with any new industry, it presents a novel set of challenges - such as the treatment of cannabis licences in insolvency cases, and whether companies spanning both sides of the US–Canada border will be able to secure Chapter 15 recognition while their business remains illegal under US federal law.
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