Cannabis Distressed Business Services
Working in conjunction with the cannabis business and its creditors, this service is designed to provide the business with the opportunity to re-establish its financial credibility through time and planning, or to assist in ceasing its existence while minimizing losses to its creditors.
The quick, efficient and cost-effective alternative to bankruptcy, CannaForm provides forums and facilities to rehabilitate, if possible, and liquidate, if necessary, the affairs of financially distressed companies as a viable option to Bankruptcy Court proceedings.
These alternatives are often less cumbersome for all involved and are less expensive—which means more return to creditors and more money left in the business to regain its footing.
While courts can take several months or more to get a reorganization plan started, CannaForm can assist in getting a plan approved in as little as 30 days.
Most helpful is the knowledge that experienced professionals are ready to step in at the most difficult time.
CannaForm can serve as secretary to creditor’s committees, provide other needed advisory services, and are fully aware of the prevailing laws and regulations relevant to each situation.
Business Estates Services
Providing support to the business and credit community in connection with cannabis reorganizations of every type and size of business, in both out-of-court arrangements and in Chapter 11 bankruptcy cases.
read more
Chapter 11 Bankruptcy
CannaForm works closely with debtors and creditors involved in Chapter 11 reorganizations.
read more
Compromise Settlements
Compromise settlement is an arrangement in which cannabis creditors agree to accept less than the total amount of their claims in full settlement of the debt.
read more
Extension Agreements
Some cannabis businesses may not have the ability to generate sufficient cash to settle with creditors, but the business may be able to become rehabilitated and repay creditors over a period of time from funds generated by continuing operations.
read more
General Assignments for the Benefit of Creditors
As a method of concluding the affairs of a business, the general assignment is faster and more economical than bankruptcy for the creditors of the debtor business.
read more
Meeting of Creditors
When management of the debtor cannabis business agrees to convene a meeting of its creditors, CannaForm can provide a comprehensive list of creditors.
Through CannaForm, all known creditors are invited to the meeting.
Out-of-Court Arrangements
CannaForm supervises the affairs of cannabis businesses in financial difficulty—to rehabilitate when possible and to liquidate when necessary—in an economical, timely and businesslike manner.
read more