Tag: Thomas E. Carlotto

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Release Me? Supreme Court to Resolve Contentious Bankruptcy Issue

In March 2022, we discussed the decision by the Southern District of New York (the “District Court”) overturning the U.S. Bankruptcy Court for the Southern District of New York’s (the “Bankruptcy Court”) confirmation of drugmaker Purdue Pharma’s controversial Chapter 11 Bankruptcy Plan (the “Plan”).[i] The District Court determined that the Bankruptcy Code did not permit the…
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Does Involvement in the Cannabis Industry Preclude Your Business From Bankruptcy Protection?

Despite the growing public acceptance of marijuana and the fact that a majority of states have legalized marijuana for medicinal purposes (37 states and the District of Columbia have enacted medical marijuana legislation), federal law still treats marijuana cultivation and sale as a criminal offense. See 21 U.S.C. § 801, et seq. As bankruptcy is only…
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