The 4-1-1 on Cannabis Receiverships from a Top Cannabis Receiver
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The 4-1-1 on Cannabis Receiverships from a Top Cannabis Receiver
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In this episode, Hilary Bricken sits down with Richard Ormond, one of the nation’s leading cannabis receivers and an expert in cannabis receiverships. Richard, a partner at Buchalter and the owner of Stone Blossom Capital, shares his unique insights into the fast-evolving world of cannabis business restructuring, the legal complexities of court-appointed receiverships, and what makes cannabis receiverships distinct from those in other industries. Richard explains the role of a receiver and why courts appoint receivers for struggling cannabis businesses, and he discusses the regulatory hurdles and compliance issues that make cannabis receiverships especially complex. Step-by-step, Richard walks us through how a receivership is initiated, his duties as a receiver, and the typical outcomes for cannabis companies.