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Out of the Shadows - Cannabis Going Mainstream

Blog Post

 

The following text is an excerpt from the Akron Beacon Journal, published on November 17, 2023: 

Stephen Lenn of Akron law firm Brennan Manna Diamond discusses business opportunities for people investing or operating in Ohio's marijuana market.

Read the full article here (content may require a paid subscription).

The discussion was also broadcast on NPR's WKSU on November 23, 2023. Read their comments here.

See the full transcript of Steve's remarks here.


Get to Know BMD: Jeff Joseph Jr.

The "Get to Know BMD" series offers a closer look at the professionals behind BMD's success. In this spotlight, meet Attorney Jeff Joseph Jr., a dedicated intellectual property lawyer with a strong connection to innovation and engineering. Jeff shares insights into his practice, what inspires his work, and his unique background as an engineer-turned-lawyer. He also reveals his passion for soccer and musical talent as a multi-instrumentalist.

The Secret to a Strong(er) Capital Stack

BMD attended the annual New Markets Tax Credit (NMTC) Conference held by Novogradac & Company LLP in New Orleans. The event spotlighted the NMTC program, which encourages private investment in low-income communities through a 39% tax credit over seven years. The complex NMTC structure requires collaboration among qualified businesses (QALICBs), community development entities (CDEs), and investors. With the Fund’s recent double allocation announcement, now is an ideal time for eligible businesses to explore NMTCs to enhance their capital stacks.

The Shadows Are on the Run: Global Icon Aon Adds Its Heft and Stature to the Legitimization of the Cannabis Industry

Aon, a global firm with 50,000 employees across 120 countries, has made a strategic move into the U.S. cannabis industry, joining a growing list of institutional players such as First Citizens Bank. This entry aligns with the efforts of the Institutional Cannabis Lending Community (ICLC), which has been driving deal flow and fostering best practices among financial institutions since its founding less than 18 months ago. Aon will co-host an exclusive event for the ICLC at the Benzinga Capital Conference in Chicago, where it will unveil a custom product suite designed for cannabis businesses and tap into the collective expertise of the ICLC's nearly 30 Participants, which include banks, lenders, and compliance experts.

Tips for Creditors Who Are Owed Money from Someone Who Has Filed for Bankruptcy

You have received a notice in the mail stating that a business or person who owes you money has filed for bankruptcy. Now what do you do? It is important to act quickly to determine your rights in the bankruptcy process and to protect them. You should review the particulars of the debt owed to you with your attorney, as well as the debtor’s bankruptcy filings. Here are some of the preliminary issues to consider in order to protect your rights as a creditor.

Get to Know BMD: Michael Sneeringer

In this installment of our "Get to Know BMD" series, Cleveland Member Michael Sneeringer shares his journey into law, driven by influential mentors and an interest in estate planning. Discover his passion for client interactions, his surprising domestic skills, and his dedication to attending his daughter's volleyball games.