By Chris Hermann and Bernie Kipp: Type of Transaction – Asset Purchase versus Stock Purchase. Very important if the acquiring entity wants an immediate continuing operations privilege. Specifically If a PE firm purchases the assets of the target company (including the operating name, equipment, IP, inventory and the current brewery building) and intends to do … Continue Reading
The U.S. Bureau of Reclamation provides irrigation water to one out of five farmers in the Western United States. According to Reclamation, the irrigation water it provides is used to produce 60% of our nation’s vegetables and 25% of our fruits and nuts. But Reclamation is now deciding whether to leave one Washington crop high and … Continue Reading
The Washington State Liquor Control Board (WSLCB) issued the state’s first licenses to produce and process recreational marijuana today. According to news reports, the licenses were issued to Spokane’s Sean Green who will operate his business under the trade name Kouchlock Productions. The WSLCB began processing applications for all three license types (producer, processor and … Continue Reading
UPDATE: Although the RPC proposal mentioned below is still under consideration by the Washington State Supreme Court, the KCBA Board of Trustees has adopted an ethics advisory opinion to assist the bar in the interim as attorneys consider practice issues under the existing RPCs. The full text of the KCBA Ethics Advisory Opinion on I-502 & Rules of … Continue Reading
With several states now moving forward with legalized medical or recreational marijuana regulatory schemes, how to obtain business financing remains a hurdle legal marijuana growers and distributers have yet to solve. As noted in a recent New York Times article, “financial institutions, security providers and landlords that serve marijuana businesses can be prosecuted for racketeering, … Continue Reading
On Thursday, the U.S. Department of Justice finally addressed its enforcement strategy as it relates to the recent Washington and Colorado initiatives legalizing marijuana in those jurisdictions. In a memo issued to U.S. Attorneys (PDF), Deputy Attorney General James M. Cole announced that the United States would not sue the states to overturn the voter-endorsed … Continue Reading
This week, the Washington State Liquor Control Board (WSLCB) held the first two of six public forums it intends to host across Washington State regarding the implementation of Initiative 502. The first forum was held at the WSLCB Headquarters in Olympia on Tuesday night. According to news reports, hundreds of people flocked to the event … Continue Reading
In Part I of our “Understanding Washington Initiative 502” (“I-502”) series, we described how I-502’s licensing regime is scheduled to go into effect late next year. There is no question that I-502 legalizes possession of certain amounts of marijuana under Washington law, and the state licensing structure aimed at regulating the production, distribution, and retail sale of … Continue Reading
My colleague Wendy Goffe, a trusts and estates attorney in our Seattle office and a regular contributor to Forbes, wrote a fascinating article about Washington Initiative 502 (I-502), the marijuana reform law. As those of you who haven’t been sleeping under a rock already know, the initiative appeared on the November 2012 General Ballot and passed … Continue Reading
