Cannabis Regulatory Agency

The adult-use marijuana market in Michigan has seen a plunge in the price of marijuana. According to the Cannabis Regulatory Agency, the average price of one ounce of marijuana in December 2020 was $350.88. In contrast, the average price fell to $109.22 in September 2022. This rapid price compression puts tremendous pressure on many marijuana businesses as they face greater competition with ever-slimming margins. For some, these market forces may present a financial or existential crisis.

Often, financially-distressed companies seek the protection afforded by federal bankruptcy courts to restructure their finances. There are several benefits to an overwhelmed debtor going through the bankruptcy process. As just one example, once a debtor files for bankruptcy, an automatic stay on actions prevents creditors from collecting against a debtor until the bankruptcy case is resolved or the Court allows the stay to be lifted. In addition, bankruptcy provides an orderly process that provides the debtor with the means of resolving creditor claims simultaneously.
Continue Reading Legal Options for Investors and Owners of a Financially Struggling Marijuana Business

Yesterday, it became public that Michigan Cannabis Regulatory Agency Executive Director Andrew Brisbo will soon be leaving the agency.

Having spent nearly two decades working in licensing and regulation with the state of Michigan, Director Brisbo served with distinction as the first director of the Michigan Bureau of Medical Marihuana Regulation. Appointed by Governor Gretchen Whitmer to head the CRA in April 2019, Director Brisbo is credited for managing the state’s cannabis policy evolution and the rapid growth of the agency.
Continue Reading Agency Head Announces Departure: What’s Next for Michigan’s Cannabis Industry

Effective April 13, 2022, the Michigan Marijuana Regulatory Agency has a new name—the Cannabis Regulatory Agency. On February 11, 2022, Michigan Governor Gretchen Whitmer issued Executive Order No. 2022-1, which made a number of significant changes to various Michigan administrative agencies.  

Notably, the Executive Order re-named the Marijuana Regulatory Agency to the Cannabis Regulatory Agency (“CRA”) and transferred the regulation and oversight of industrial hemp processing from the Michigan Department of Agriculture and Rural Development (“MDARD”) to CRA. Regulatory oversight and licensure of industrial hemp cultivation will remain with MDARD. 
Continue Reading Agency Name Change: Meet the Michigan Cannabis Regulatory Agency