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Lawsuit says cannabis company owes $500k in ‘future receipts’ deal

A Santa Barbara County cannabis grower is going to have to pay out more than $500,000 if it loses at arbitration over an unpaid contract, so a New York federal court should just freeze those funds now, the company suing the grower said.

Dynasty Capital 26 LLC asked U. S. District Judge Ann M. Donnelly to prevent Lily’s Green Garden Inc. from spending $522,250 from its Salal Credit Union bank account as that money belongs to DC26, according to the complaint filed Monday. The New York firm is in the midst of an arbitration battle that it says it will likely win…

To Read The Rest Of This Article By Jonathan Capriel on Law360

Published: May 05, 2022

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