Few industries promise rapid growth equal to that of the cannabis industry, with one study projecting the industry could reach $30 billion in annual sales by 2025. This growth continues to accelerate as more states legalize cannabis for medical or adult use. But until federal cannabis laws are reformed, the illegality of cannabis at
Bradley’s Bankruptcy Basics: Chapter 11 Bankruptcy — Reorganization
Chapter 11 bankruptcy cases are most frequently filed by businesses. However, certain high-earning individuals whose debts are above the statutory debt limits to qualify for Chapter 13 can also file for Chapter 11 relief. In Chapter 11 cases, the debtor retains control of its operations as a debtor in possession (DIP) and has the benefits
New Cyber Insurance Risk Framework Provides Best Practices for the Insurance Industry
The cyber insurance market size is currently valued in the billions, and this does not include insurance policies that do not explicitly mention cyber incidents but may nevertheless cover them. With this in mind, policyholders and insurance carriers should be aware of the recently released Cyber Insurance Framework (the “Framework”) issued by the New York
Although the COVID-19 Pandemic Persists, So Does the Constitution
Landlords in the state of Texas won a battle over their ability to conduct residential evictions when a federal court struck down the Centers for Disease Control’s (CDC) broad eviction moratorium last Thursday. On February 25, Judge John Barker of the Eastern District of Texas granted summary judgment in favor of a group of landlords
Bradley’s Bankruptcy Basics: Chapter 7 Bankruptcy — Liquidation
Chapter 7 bankruptcy cases are straight liquidations sought by debtors who wish to have most or all of their debts discharged. In Chapter 7 cases, the Chapter 7 trustee obtains control over the debtor’s assets and evaluates whether any equity exists that would offset the costs of selling those assets. If the bankruptcy estate will
Will Oregon Mandate Closing Services and Title Insurance for Cannabis Transactions?
A proposal pending in the Oregon Legislative Assembly would limit title insurers’ potential grounds for refusing to insure certain real property transactions involving cannabis. Specifically, HB 2806, presented by Reps. David Brock Smith and Gary Leif, would prohibit title insurers and their affiliates from refusing to close or insure real estate transactions solely because
Florida Supreme Court Rules Borrowers Can Recover Reciprocal Attorneys’ Fees Under Section 57.105
The Florida Supreme Court rang in the New Year by casting a blow to lenders and loan servicers in Florida seeking to avoid the entry of attorneys’ fees judgments in borrowers’ favors where the borrowers successfully argued the plaintiff lacked standing to foreclose. On December 31, 2020, the court issued its opinion in Page v.
Bradley’s Bankruptcy Basics: The 6 Key “Players” in Bankruptcy Cases
Bankruptcy cases differ from typical lawsuits in a variety of ways, including the parties involved. Whereas standard lawsuits generally involve a plaintiff and a defendant, bankruptcy cases have a different cast of “players,” including the debtor or debtor in possession, creditors, the bankruptcy trustee (i.e., Chapter 7 trustee, Chapter 13 trustee, etc.), committees, and the
Acting CFPB Director Uejio Reiterates Commitment to Issuing Regulations Enacting Dodd-Frank 1071
On February 4, 2021, acting CFPB Director Dave Uejio published a blog post sharing statements recently made to the staff of the CFPB’s Division of Research, Markets, and Regulations (RMR). In his post, Uejio stressed two policy priorities for the CFPB: “(1) relief for consumers facing hardship due to COVID-19 and the related economic crisis
Bradley’s Bankruptcy Basics: A Multimedia Series
Bankruptcy. The arrival of that notice stating a customer has filed for bankruptcy can evoke less-than-ideal responses: forwarding the notice to someone else who might know what to do with it (resulting in the notice ending up in a forever loop of being forwarded along); immediately writing off the account and cutting your losses; or,