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2.3 MB
Extraction Summary
0
People
6
Organizations
2
Locations
2
Events
2
Relationships
3
Quotes
Document Information
Type:
Investment/legal report page
File Size:
2.3 MB
Summary
This document is page 81 of a 2017 report by Ackrell Capital titled 'U.S. Legal Landscape' (Chapter IV). It analyzes federal securities laws and bankruptcy laws specifically in the context of the cannabis industry, noting that while securities laws allow capital raising, bankruptcy protection is generally unavailable due to federal illegality. It cites the 2015 Arizona case 'In Re Medpoint Management, LLC' as a precedent for denying bankruptcy protection based on the 'unclean hands' doctrine.
Organizations (6)
| Name | Type | Context |
|---|---|---|
| Ackrell Capital, LLC |
Investment firm publishing the report
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| SEC |
Securities and Exchange Commission, mentioned regarding securities regulation
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| FINRA |
Financial Industry Regulatory Authority (mentioned in footer)
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| SIPC |
Securities Investor Protection Corporation (mentioned in footer)
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| Medpoint Management, LLC |
Entity involved in a bankruptcy case cited as legal precedent
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| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT'
|
Timeline (2 events)
2015
Federal bankruptcy court decision in In Re Medpoint Management, LLC
Arizona
Medpoint Management, LLC
Federal Bankruptcy Court
Locations (2)
| Location | Context |
|---|---|
|
Jurisdiction for laws discussed
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Location of the Medpoint Management, LLC bankruptcy case
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Relationships (2)
Footer states 'Member FINRA'
Medpoint managed the cultivation and business operations of a state-legal Arizona medical cannabis dispensary.
Key Quotes (3)
"By all indications, federal securities laws do not prohibit companies engaged in federally illegal cannabis activities from raising capital through the issuance of securities"Source
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Quote #1
"Debtors whose assets relate to federally illegal cannabis activity, as well as their creditors, generally are not eligible for bankruptcy protection"Source
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Quote #2
"federal courts typically decline to honor creditor claims that arise from knowingly transacting with a debtor in furtherance of unlawful activity."Source
HOUSE_OVERSIGHT_024717.jpg
Quote #3
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