The Cannabist Co. won US court recognition of insolvency proceedings the holding company initiated in Canada to restructure debts used to fund its cannabis production and retail enterprise.
Judge Brendan Shannon of the US Bankruptcy Court for the District of Delaware signed an order on May 9 recognizing the foreign restructuring proceedings for Cannabist after the company resolved opposition lodged by East West Bank by reserving the lender’s rights to assert objections over debt treatment as the cases proceed.
The British Columbia-based company, with subsidiaries that operate marijuana retail businesses in the US, also agreed to incorporate informal comments from ...
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