Outlaw Report
In one of the most prominent financial restructuring proceedings to hit Maryland’s adult-use cannabis market, a court-appointed receiver has officially launched a structured sale process for the in-state assets and operating licenses of PharmaCann, one of the nation’s largest multi-state operators.
Opus Consulting Partners, LLC, acting through firm president Jacques Santucci, was designated as receiver for PharmaCann Maryland following a legal petition brought by Argent Institutional Trust Company. The receivership proceeding, filed in the Montgomery County Circuit Court (Argent Institutional Trust Company v. PharmaCann of MD, LLC, et al., Case No. C-15-CV-26-001937), places the MSO’s local footprint under independent fiduciary management while a court-approved auction process unfolds.
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Receiver Takes Control of PharmaCann’s Maryland Assets, Launches Bidding Process for License Sale
