Senior associate Eloy Peral
authored “Up in Smoke: Why Marijuana Companies Can’t File Bankruptcy and How That Could Change,” in the December 5, 2016 issue of the New York Law Journal
. Recent court decisions have made it clear that individuals and businesses that under state law lawfully earn income that in any way derives from marijuana are entirely foreclosed from seeking bankruptcy protection. This article examines one of these challenges: the ability to take advantage of the Bankruptcy Code.