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You are here: Home / Archives for Steven Schain

Steven Schain

About Steven Schain

2019 National Law Journal “Finance, Banking, & Capital Markets Trailblazer” award winner, Steve Schain chairs global cannabis law firm Hoban Law Group’s PA and New Jersey practice and chairs its Financial Services Group.  Steve represents entities, governments and individuals in litigation, regulation, compliance, preparing and submitting license applications and entity formation, and drafting legislation. Steve can be reached at [email protected].

Why Cannabis Is Shut Out of $900 Billion Economic Aid Act

January 18, 2021 by Steven Schain Leave a Comment

In tranches of up to $10 million, the federal government is doling out $900 billion of forgivable loans to borrowers other than “plant touching” marijuana-related businesses (MRBs). By Steve Schain In tranches of up to $10 million, the federal government is doling out $900 billion of forgivable loans to borrowers other than “plant touching” marijuana-related businesses […]

Filed Under: Federal, Spotlight Tagged With: and Economic Security Act (CARES Act), Coronavirus Aid, marijuana related businesses (MRBs), nonplant touching MRBs, Relief, The Economic Aid Act

Why Jersey’s Adult Use Program Will Ignite East Coast Cannabis

December 16, 2020 by Steven Schain Leave a Comment

With 44 million consumers banging on its door, and $950 million of revenue projected over the next three years, New Jersey’s adult use marijuana program is poised to define cannabis across the eastern seaboard. With 44 million consumers banging on its door, and $950 million of revenue projected over the next three years, New Jersey’s adult […]

Filed Under: New Jersey Tagged With: alternative treatment centers (ATCs), Jake Honig Compassionate Use Medical Cannabis Act, New Jersey Cannabis Programs, New Jersey’s Department of Health Division of Medical Marijuana (DOH)

Why Explosive Applications Create Bulletproof Marijuana Businesses

November 4, 2020 by Steven Schain Leave a Comment

In 2019, legalized Marijuana’s domestic sales reached $11.7 billion, and grow, processing and dispensary licenses were valued at (and, reportedly, sold for) over $20 million dollars. Licenses are granted by the respective 33 states with Marijuana programs, most of which impose an arduous competitive application process and deny 91% of the submissions. Like any other contest, […]

Filed Under: Best Practices, Compliance and Regulations, Policy & Legal Tagged With: federal government, licensing, marijuana related business (MRBs), State and Local Government

Cannabis-Infused Products and How to Transport Them

August 28, 2020 by Steven Schain Leave a Comment

Generating $11.6 billion of revenue in 2019, and legal in 34 states, marijuana is mainstream, profitable and intensely regulated. By Steve Schain Generating $11.6 billion of revenue in 2019, and legal in 34 states, marijuana is mainstream, profitable and intensely regulated. Because current federal illegality prevents transporting cannabis between states or across U.S. borders, regulation […]

Filed Under: Policy & Legal Tagged With: interstate transport, marijuana related business (MRBs)

Cannabis Industry’s “COVID-19 Disaster Recovery Playbook”

May 1, 2020 by Steven Schain Leave a Comment

For legalized marijuana, the coronavirus (“COVID-19”) pandemic has been the worst of times and the best of times. Despite being deemed “ineligible” for much of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) benefits, nearly derailed by commercial-contract-voiding “force majeure” provisions, and denied federal bankruptcy protection, COVID-19 has resulted in extraordinary Marijuana Related […]

Filed Under: Coronavirus, Policy & Legal Tagged With: Coronavirus, Coronavirus Aid Relief and Economic Security Act (“CARES Act”), curb-side pick-up, essential businesses, Force Majeure Claims, home delivery via caregivers., Marijuana Related Business (“MRB”), online patient certification and ordering, tripling the maximum purchasable amount

Cannabis Financial Hardship Solutions: Workouts, Receiverships, and Assignments for the Benefit of Creditors

April 7, 2020 by Steven Schain Leave a Comment

With zilch in the till and creditors crashing through the door, what’s a respectable Cannabis business to do? Although federal bankruptcy protection is presently unavailable, Marijuana Related Businesses (“MRBs”) may obtain financial distress relief via “workouts” or state law receiverships or assignments for the benefit of creditors (“Creditors’ Assignment”). While not providing an “automatic stay”, and often […]

Filed Under: Policy & Legal Tagged With: A PhD Plant Biologist’s Plan to Modernize the Struggling Industry for the 21st Century Here we are, Bankruptcy Code, Chapter 7, Creditors’ Assignment, marijuana related businesses (MRBs), Non Plant Touching, Receiverships, Workouts

How COVID-19 Force Majeure Claims May Wreck or Save Your Business

March 25, 2020 by Steven Schain Leave a Comment

Following its rapid spread, on March 11, 2020 the World Health Organization declared coronavirus (“COVID-19”) to be a pandemic thereby potentially voiding every commercial contract via “force majeure” provisions and the common law doctrine of frustration (“Frustration Doctrine”). “Force majeure” events mirror “Acts of God” like floods that are outside of parties’ control and relieve […]

Filed Under: Coronavirus, Policy & Legal, Spotlight Tagged With: COVID-19, Force Majeure

How Psychedelics Became The Next Wave

March 23, 2020 by Steven Schain Leave a Comment

Feeling kind of blue? Experiencing intimacy issues or just plain anxious?  Help may be right around the corner in the form of legalized hallucinogens. Ranging from plant drugs, like mushroom-derived psilocybin and cactus-derived peyote, to synthetics like Lysergic acid diethylamide (“LSD”) and Methyl​enedioxy​methamphetamine (“MDMA”), hallucinogens are increasingly used to treat recognized disorders, including depression, anxiety, and […]

Filed Under: Policy & Legal Tagged With: Controlled Substance Ac, hallucinogen, LSD, peyote, psilocybin, psychedelics

Hemp Eruption Favors Jersey First

January 20, 2020 by Steven Schain Leave a Comment

Was it really this asinine? Up until last year, 3 federal agencies and 42 state governments were creating contradictory Hemp growing and processing rules often barring hemp-derived product sales and demonizing one particular item, Cannabidol (“CBD”).   This exploded in the ensuing 12 months with $641 million in domestic hemp-derived product sales (78% of which was […]

Filed Under: Hemp Policy & Legal, New Jersey Tagged With: New Jersey Hemp Program

New Jersey Leads Nation in Hemp Program Approval and Launch

December 30, 2019 by Steven Schain Leave a Comment

Jersey got there first! Leapfrogging over 16 other states with more established hemp programs, on December 27, 2019, the U.S. Department of Agriculture (“USDA”) approved New Jersey’s proposed hemp growing, processing and selling regulations, including Cannabidol (“CBD”), starting in 2020. NJ Hemp Program’s Creation Following Congress’ December 2018 passage of the Agriculture Improvement Act of […]

Filed Under: Hemp Policy & Legal Tagged With: New Jersey, U.S. Department of Agriculture (USDA)

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