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COVID-19 Impact on Cannabis: Industry Insights and Expectations

Level: Advanced
Runtime: 61 minutes
Recorded Date: August 05, 2020
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  • Cannabis 101
  • Investment climate
  • Financing
  • Licensing / Regulatory / Legalization
  • Options for Distressed Businesses
  • Banking
  • Real Estate
  • Insurance
Runtime: 1 hour
Recorded: August 5, 2020


Hear the insights and expectations of Jim Boland, Senior Counsel, Cresco Labs, Daniel Garfield, Founder, McAllister Garfield, P.C., and Eli Korer, Chief Legal Officer, Union Cannabis Group. These industry leaders will discuss the impact of the Covid-19 Pandemic on the cannabis industry and the associated legal landscape.

The exciting topics to consider and explore will include the distressed asset market, anticipated market consolidation (increased M&A activity, joint ventures, and acquisitions), the active investor market, and barriers to entry (e.g., licensing and application delays, credit-crunch, suspension of legalization efforts). Our experts will also focus on options for struggling operators (bankruptcy is not a viable option) and the advantages to existing companies and larger entities. Do we see a downturn in this nascent industry or expansion as states seek new revenue streams? What is the status of the SAFE Banking Act and how does one navigate current banking restrictions? Lastly, we will explore insurance problems and implications for marijuana-related business, especially tenants and building owners.

This program was recorded on August 5th, 2020.

Provided By

American Bar Association
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Jim Boland

Dickinson Wright, PLLC.

Jim Boland is an attorney at Dickson Wright, PLLC, he was previously the Senior Counsel at Cresco Labs. Jim earned his JD at the DePaul University College of Law in 2015.

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Eli Korer

Chief Legal Officer
Union Cannabis Group, Inc.

Eli Korer is the Chief Legal Officer of Union Cannabis Group. In addition to managing the company’s legal matters, he also contributes to the company’s business and commercial activities.

Prior to joining UCG, Eli practiced law at the Chicago office of Barnes & Thornburg LLP as a member of the Corporate Department. He has represented public and private companies in various corporate matters, including corporate formations, corporate governance and compliance, financing, commercial transactions, securities, mergers, stock and asset acquisitions and divestitures, joint ventures, government, intellectual property and commercial real estate transactions.

Eli began his practice at the U.S. Attorney’s Office in the Department of Justice and then prosecuted government, securities and utilities class actions in state and federal courts.

Eli received his J.D., honors graduate, from the Valparaiso University Law School and his B.A., magna cum laude, from Boston University.

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Daniel Garfield

Founding Attorney
McAllister Garfield, P.C.

Dan Garfield’s 25-year practice focuses on bankruptcy, business transactions, and cannabis.

Dan’s bankruptcy, restructuring, and distressed asset practice includes representation of clients in bankruptcy, receivership, and all matter of distressed situations, including Chapter 7 and 11 debtors, creditors’ committees, secured and unsecured lenders, shareholders, trustees, receivers, and purchasers of distressed assets. He also litigates adversary proceedings in bankruptcy court, including fraudulent transfers and preferences. He also assists clients in creditors’ rights matters in and out of court, including debt restructurings, liquidations, workouts, foreclosures, and collecting judgments.

Dan’s transactional experience in a range of industries includes entity formation and restructuring, mergers and acquisitions, debt and equity financing, private placements, licensing, contract negotiation and drafting, corporate governance, and joint ventures, and acts as outside general counsel for a number of businesses. Dan also provides advice to lenders and borrowers in structured finance loans.

Dan is also a leading cannabis industry attorney, with experience in all issues concerning cannabis and hemp. He represents private and public companies, investors (including private equity funds and family offices), landlords, lenders, manufacturers, testing laboratories, hemp farmers, CBD manufacturers, and a wide range of ancillary businesses, including social media, consultants, and suppliers. He also provides legal opinions and regulatory advice to industry participants.

Dan represented a landlord and medical marijuana caregiver in the nation’s first appellate bankruptcy case concerning the right of cannabis businesses to seek bankruptcy protection, In re Arenas, 535 B.R. 845 (B.A.P. 10th Cir. 2015).

Dan is a frequent lecturer on the intersection of bankruptcy, distressed business, and cannabis.

Licensed in Colorado and Oregon, Dan received his J.D. from Northwestern University School of Law in 1995 and his B.A. from Swarthmore College in 1989.

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Karen Hart

Bell Nuunnally & Martin, LLP.

Karen Hart is a business attorney with over 17 years of experience litigating commercial disputes.

Karen counsels clients on real estate and landlord-tenant matters as well as various contract and business disputes. She is a tireless advocate for her clients, providing guidance on business legal matters, such as lease, purchase and sale, brokerage and property management disputes, specific performance claims, commercial evictions, lis pendens, lien and bond claims, lien priority disputes, promissory note claims, commercial foreclosures, bankruptcy claims, professional ethics and liability matters, bills of review, confidentiality, non-competition and non-solicitation agreements and related disputes and injunctive proceedings, and business tort claims, including tortious interference with contracts and business relationships, civil theft, fraud, and misappropriation of trade secret claims.

With a growing global client base, Karen also handles international dispute resolution, including international litigation, arbitration, and mediation. Karen uses creative pre-litigation negotiation and risk management techniques to keep her clients out of court. She also employs innovative asset investigation and preservation and judgment enforcement tactics, including domestications and international enforcement of judgments and arbitral awards.

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