Tag: federal

Issues that private equity firms should consider before acquiring alcohol beverage producers

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

First Recreational Marijuana Licenses Issued in Washington

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

Ethical Challenges for Lawyers in the Face of State Marijuana Legalization

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

Senate Judiciary Committee Holds Federal Marijuana Policy Hearing

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

What the Federal Government’s New Marijuana Guidance Means for Washington Businesses

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

Part II: Understanding the Conflict Between Federal Law and Washington Initiative 502

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
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