Tag Archives: reschedule cannabis

Cannabis Rescheduling Will Not Open Bankruptcy Doors

As previously discussed by Foley Hoag’s attorneys in its Cannabis practice, a rescheduling of cannabis from a Schedule I Controlled Substance to a Schedule III Controlled Substance will provide cannabis businesses with the ability to claim tax deductions and a host of other potential benefits, but it most likely will not open the courthouse doors for federal bankruptcy protection absent participation in other regulatory regimes like DEA registration.… More