At present, 25 states, including the District of Columbia, have legalized marijuana. While the number of states and territories with laws and policies allowing for the cultivation, sale, distribution and possession
With Federal Bankruptcy Courts Unavailable, Marijuana Businesses Turn to State Options
Federal bankruptcy courts have been unavailable to marijuana businesses due to the Schedule I status of marijuana. The United States Trustee's policy is to move to dismiss or object in each case involving marijuana assets, because they cannot be administered under the Bankruptcy Code.

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