2020: A Year of Firsts in Cannabis Insolvencies

January 2021

Agenda

Given the recent legalization of cannabis in Canada, cannabis company insolvencies were unchartered territory before 2019. Insolvency professionals dealing with this country’s first cannabis filings (approximately 5 in 2019 and over a dozen in 2020) did so without the benefit of an established playbook of cases and tools to guide them. The outcome was the development of a number of creative legal and practical solutions geared at restructuring insolvent companies in the cannabis industry.

Join us for an informative half-hour discussion in which our expert panel, who were involved in the first-ever going concern sale of an insolvent cannabis company in Canada, will share how cannabis insolvencies have evolved over the last year and provide predictions for what’s to come. We’ll cover, among other things, the following:

  • The main legal and regulatory issues that arise in cannabis insolvencies, including license transfers, regulatory approvals and dealing with Health Canada, and best practices for resolving these issues.
  • Whether it’s possible for a secured creditor to appoint a receiver over a cannabis company and potential workarounds to this issue, including initial orders under the CCAA being granted that require cannabis companies to wind down their operations, and receivership orders being granted over everything other than cannabis property.
  • Investors’ current appetites to finance cannabis companies and what steps they can take to protect themselves in a volatile market.
  • The necessity (or lack thereof) of a SISP to the success of marketing a cannabis business, and unique methods that have been employed to facilitate cannabis SISPs in the COVID-19 environment.
  • The relative benefits of structuring a cannabis sale as an asset sale or using a reverse vesting order structure.
  • The panel’s predictions on what the next 6 to 12 months will hold for cannabis companies.

Panelists

Natalie Renner

Partner, Corporate and Financial Restructuring and Insolvency

Davies Ward Phillips & Vineberg LLP

Noah Goldstein

Managing Director

KSV Advisory Inc.

Michael Ruscetta, CEO & Director, and Kevin Jarrett, VP Investments

Trichome Financial Corp.

Dina Milivojevic

Editor

Insolvency Insider

Who Should Attend:

Trustees and other insolvency professionals

Bankruptcy and insolvency lawyers

Corporate bankers

Liquidators and distressed investors

Commercial lawyers

Corporate counsel

Chartered Professional Accountants

CPD Hours:

The webinar will qualify for a half hour of Continuing Professional Development for lawyers, CPAs and CIRPs.

2020: A Year of Firsts in Cannabis Insolvencies

January 2021

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