Ep. 30: From Risk to Resilience - How Cannabis Operators Can Avoid Receivership

🎙In this episode of 'Under the Microscope with Jenny,' host Jenny Germano is joined by Andy Shelley the Founder of CannXperts to discuss the critical issue of receivership in the cannabis industry. Andy, a former Law Enforcement Officer and Oregon Liquor Control Commission Regulator turned cannabis consultant, delves into his transition into the industry. The conversation focuses on the nuances of receivership, an alternative to bankruptcy, and why it is particularly relevant in the cannabis sector due to federal restrictions on bankruptcy filings. Jenny and Andy talk about the causes leading to receivership, the warning signs, the operational and regulatory challenges, and the steps companies can take to avoid this route. Through detailed explanations and real-life examples, listeners can gain valuable insights into the complexities of financial difficulties in the cannabis industry, the importance of vigilance, and the steps to ensure business sustainability.

 

🌿 Our Host: Jenny Germano 🌎 https://www.icsconsultingservice.com

🌿 Our Guest: Andy Shelley Founder of CannXperts  🌎 CannXperts: https://www.cannxperts.com

 

⏰ Timecodes ⏰

01:12 Andy Shelley's Background in Cannabis 04:10 Receivership in the Cannabis Industry 05:27 Understanding How Receivership Works 09:43 Reasons Why Receivership Happens 14:50 Receivership Process and Challenges 17:26 Managing Operations During Receivership 20:24 Regulatory Compliance in Receivership 23:24 Protecting Assets and Ensuring Continuity 25:14 Early Warning Signs and Prevention 26:23 Identifying Financial Warning Signs 29:52 Proactive Steps to Avoid Financial Trouble 34:05 The Dangers of Ignoring Financial Issues 36:06 Risks of Management Service Companies 45:06 Best Practices for New and Existing Operators 48:13 Final Thoughts & Wrap Up

 

Legal Disclaimer: The content shared on this channel - including all videos, podcasts, interviews, and discussions is provided for educational and informational purposes only. It is not intended as legal, compliance, or business consulting advice, and should not be relied upon as such. Laws and regulations surrounding cannabis and related industries vary by jurisdiction and are subject to change. Always consult with a qualified attorney or licensed professional before making decisions that could have legal or regulatory consequences for your business. Listening to or viewing this content does not create a client relationship between you and ICS Consulting, Under the Microscope with Jenny, Jenny Germano, or any of the podcast’s guests. Any opinions expressed are those of the individual speakers and do not necessarily reflect the views of ICS Consulting or its affiliates.