DOJ: Marijuana businesses can’t seek bankruptcy protection is accepting qualified medical marijuana patients and caregivers to join our network. We value every registered member and we hope to serve you in Arizona. This article brought to you by 420 community friends

Cannabis business owners cannot turn to federal bankruptcy courts when they land in financial hot water, a U.S. Department of Justice official reaffirmed.

Cliff White, director of the DOJ’s U.S. Trustee Program, sent a letter to trustees who deal with consumer bankruptcy cases reminding them that cannabis is illegal under federal law. He noted they shouldn’t handle money from the sale of cannabis-related property, Dow Jones NewsWires reported.

According to White’s letter, his division has seen a spike in the amount of bankryutcy cases in which “marijuana assets” have been disclosed. A spokeswoman wouldn’t disclose a number,

DOJ: Marijuana businesses can’t seek bankruptcy protection is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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