Boston, MA, January 22, 2024 – Burns & Levinson LLP has been named a 2023 Cannabis Practice Group of the Year by Law360 for its exceptional track record in the cannabis industry over the past year. Burns & Levinson was one of only five firms nationwide singled out by Law360 for this prestigious award.
Burns & Levinson was one of the first major Boston corporate law firms to develop a dedicated cannabis business practice over 10 years ago to advise cannabis businesses, entrepreneurs and investors across the country. The firm has unrivaled experience in advising on cannabis and hemp/CBD business formation and corporate structuring, capital raises, M&A, investment structuring, lending for lenders and borrowers, regulatory matters, workouts, receiverships, ABCs, and overall business issues affecting the fast-growing cannabis industry. The firm is also among the top law firms in the country handling M&A and high-level corporate and financing deals in the private and public markets in the cannabis market.
Major 2023 projects include steering the first ever receivership of a cannabis company in Massachusetts to satisfy a $22 million plus default under a secured loan agreement for client Teneo Funds SPVi LLC; securing a receivership of The Source for client Green Ops Group in efforts to collect over $21 million from a matured promissory note; leading Sweed’s merger with Leaf Trade; originating and closing Needham Bank’s $40 million refinancing of AYR Wellness; and launching five cannabis banking and lending programs across the country.
“We are honored to be recognized for our work helping our cannabis clients succeed in what have been challenging times for this industry resulting from market over saturation and lack of reasonable capital. Despite the difficult realities in the industry over the past, we continue to be at forefront of finding solutions for our clients – including guiding them through never-before-seen distressed situations without the benefit of bankruptcy protections – to help them find ways to navigate these turbulent times and capitalize on the myriad possibilities that exist in this new market,” said Frank A. Segall, Founder and Chair of the Cannabis Business & Law Advisory Group at Burns & Levinson, and a Law360 2022 Cannabis MVP of the Year and an inaugural National Law Journal “Cannabis Trailblazer” among many other industry awards.
“We are very proud of our accomplishments last year and are thrilled to receive this award. There are so many pressing issues confronting the cannabis industry, and we have one of the best and most experienced legal teams in the industry to help clients not only survive, but thrive,” added Scott Moskol, Co-Founder and Co-Chair of Burns & Levinson’s Cannabis Business & Law Advisory Group and an inaugural National Law Journal “Cannabis Trailblazer.”
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