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Here Are The Most Frequently Asked Questions.
An experienced receiver can help cannabis operating companies and stakeholders to avoid costly bankruptcy proceedings and loss of value. Here are some answers to frequently asked questions about cannabis receiverships.
Contact Douglas Wilson Companies to speak with an experienced cannabis receiver or to learn more about how a receivership may serve you or your company.
DWC has served as a trusted fiduciary in hundreds of matters, including multiple cannabis cases. DWC has served as a reciever to real estate owners involved in cannabis operations as well as in cannabis operating company matters.
Receivership lengths vary; a receivership lasts until the court that appointed the receiver dismisses the receiver. Usually this takes place once the objectives of the receivership have been met.
A court appoints a receiver to complete specific tasks relative to protecting assets and repaying creditors.
A receiver is an effective remedy in a wide variety of cases, including defaults and disputes relating to cannabis operations. A receiver is typically appointed by a federal or state court to protect assets and stem losses in the case of a borrower in default. You may need a receiver if you are a lender with a borrower in default. You may also need a receiver if you are facing a partnership dispute or another conflict within your business; cannabis operators included.
A receiver performs a series of functions under a court order. This may include providing oversight outside of court and litigation, such as taking financial control of borrower operations, ensuring revenues are collected and applied properly, completing construction, and more. In cannabis cases, a receiver can operate on behalf of the owner; manage licenses; manage the sale of assets; and more.
There are many receivers and it is important to make sure your receiver is experienced in your industry. A receiver experienced in cannabis cases, such as Douglas Wilson Companies, can apply its expertise in the complex cannabis industry to resolve distress scenarios and protect assets in cases involving cannabis distribution, retail operations, licensing, lending and other aspects that are unique to cannabis companies.
