In re ARM Ventures, LLC, 564 B.R. 77 (Bankr. S.D. Fla. 2017)

Feb 14, 2017

OUTCOME: A bankruptcy plan that proposes to be funded through income generated by the sale of marijuana products cannot be confirmed unless the business generating the income is legal under both state law and federal law.

This case is the first reported decision from a Florida bankruptcy court addressing the issue of whether a chapter 11 debtor can propose a plan of reorganization based on income derived from sale of me ... dical marijuana where such sale is legal under state law.