A three-judge panel for the Michigan Court of Appeals held last month that receivers directing insolvent marijuana companies can reject burdensome leases and disregard contract provisions that could lead to widespread defaults.
Marianna Wharry
Court-appointed receivers managing Michigan cannabis businesses through liquidation have the authority to reject or modify the company’s leases or contracts under state law, a state appellate court said.
A three-judge panel for the Michigan Court of Appeals held last month that receivers directing insolvent marijuana companies can reject burdensome leases and disregard contract provisions that could lead to widespread defaults.
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