As 2024 draws to a close, the Cannabis, Hemp & Psychedelics Practice Group at Mandelbaum Barrett PC reflects on a year marked by pivotal victories, industry leadership, and unwavering commitment to our clients. From groundbreaking court decisions to educational initiatives, we are proud to share this year’s final highlights with you:
*the stories highlighted below are unique to each case, past results do not guarantee future results.
Spectrum News Coverage: Protecting Small Businesses
Throughout the year the firm has been representing licensed NY hemp retailers facing unprecedented challenges. Featured on Spectrum News, Josh shed light on the unintended consequences of broad enforcement actions impacting compliant hemp businesses. Together with Jed Weiss and James Mazewski, our team filed a landmark case to defend constitutional rights and push back against governmental overreach.
Natalie Diaz breaks down everything you need to know to navigate the upcoming cannabis consumption area endorsements, with applications set to open on January 2, 2025. These endorsements will create regulated spaces for adults aged 21 and older to consume cannabis products purchased from licensed dispensaries, marking a significant step forward in cannabis accessibility and regulation.
In a significant win, NY State Supreme Court Judge Engoron granted our Order to Show Cause, allowing licensed hemp clients to remove unconstitutional “Scarlet-letter” signs posted on their storefronts by the NYS OCM without due process. This ruling reinforces protections for state-licensed businesses.
Our team broke down a recent New York Supreme Court ruling that enjoined key parts of the State’s licensing process. This decision challenges administration of the CAURD program and has the potential to reshape cannabis regulation in New York.
Our team successfully assisted a cannabis client in securing critical funding to expand their dispensary operations, highlighting the firm's one-stop-shop capacity to support clients from corporate formation to licensure, financing, and commencement of operations.
All year we successfully advocated for numerous hemp-licensed clients raided by the NYS OCM and the NYC Sheriff. In this case the Summons was dismissed, and the Sealing Order lifted after our arguments proved the allegations lacked sufficient justification.
Webinar: Navigating New Jersey’s Hemp Product Laws
In partnership with the NJ State Bar Association, Joshua S. Bauchner and a panel of legal experts hosted a crucial seminar covering new rules for selling intoxicating hemp products in New Jersey. Earn up to 2 CLE credits.
Joshua S. Bauchner and Natalie C. Diaz recently presented "Marijuana Business Law in New Jersey" for the National Business Institute (NBI). This on-demand program is now available with a $50 discount.
The next frontier in cannabis is banking. Despite federal hurdles, financial institutions are stepping in to support Cannabis Related Businesses (CRBs). At Mandelbaum Barrett, we help banks and credit unions develop internal controls to navigate KYC/AML and compliance challenges, ensuring they unlock opportunities for growth.
Connecting Cannabis Clients to Capital:
Introducing Rainbow Realty Group
Mandelbaum Barrett is pleased to introduce its cannabis clients to Rainbow Realty Group. Rainbow, founded in 2018, is a specialty finance company focused exclusively on investing in real estate opportunities within the U.S. cannabis industry. Rainbow buys real estate through sale-leasebacks and finances real estate through senior-secured mortgages. The Group underwrites real estate at non-cannabis values, discounting any cannabis-specific premiums. In doing so, Rainbow enables cannabis businesses to leverage, refinance, or sell their real estate to fund operations in the absence of traditional commercial lending.
We remain dedicated to advocating for cannabis businesses, advancing regulatory compliance, and fighting for fairness in the evolving cannabis landscape. Thank you for trusting us to support you throughout the year.
Wishing you and your loved ones a joyful holiday season and a prosperous New Year. May 2025 bring continued growth, success, and new opportunities!
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