No Bankruptcy Aid for Marijuana Businesses, Officials Say

No Bankruptcy Aid for Marijuana Businesses, Justice Department Officials Say

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The U.S. Department of Justice is issuing another reminder that marijuana businesses don’t have a right to bankruptcy proceedings.

“Marijuana continues to be regulated by Congress as a dangerous drug, and as the Supreme Court has recognized, the federal prohibition of marijuana takes precedence over state laws to the contrary,” Clifford J. White III, director of the Justice Department’s Executive Office for U.S. Trustees, and John Sheahan, a trial attorney for the agency, wrote in an article published Friday.

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