Key Takeaways
- Law360 awarded Burns & Levinson LLP the 2023 Cannabis Practice Group of the Year.
- The firm boasts over a decade of experience in the cannabis industry, offering comprehensive legal services.
- Key 2023 projects included notable receiverships, mergers, and multi-million-dollar refinancings.
- Leaders Frank A. Segall and Scott Moskol have been acknowledged as industry trailblazers.
- The firm's commitment to navigating complex legal landscapes has positioned it as a top player in the cannabis legal sector.
Firm's Foundation and Evolution
Burns & Levinson LLP, a Boston corporate law firm, established its dedicated cannabis business practice over a decade ago.
This move positioned the firm to offer specialized advice to cannabis businesses, entrepreneurs, and investors across the U.S. Their services encompass a broad spectrum, including business formation, corporate structuring, capital raises, M&A, investment structuring, and more, catering to the dynamic needs of the rapidly growing cannabis industry.
"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," 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, in a news release.
"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," Segall added.
Major Projects and Achievements in 2023
The year 2023 marked several significant accomplishments for Burns & Levinson. The firm successfully navigated complex legal landscapes, such as steering the first-ever receivership of a cannabis company in Massachusetts and managing substantial transactions like the $40 million refinancing of AYR Wellness.
These achievements underscore the firm's prowess in handling high-level corporate and financing deals in the cannabis market.
"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," in the news release.
Leadership and Recognition
Under the leadership of Frank A. Segall and Scott Moskol, Burns & Levinson has excelled in providing top-notch legal services and securing industry-wide recognition.
Segall and Moskol have been celebrated as industry trailblazers, with Segall being named a Law360 2022 Cannabis MVP of the Year and a National Law Journal "Cannabis Trailblazer."
What We Think
The recognition of Burns & Levinson by Law360 as the 2023 Cannabis Practice Group of the Year underscores the firm's pioneering role and continued leadership in the legal landscape of the cannabis industry.
Over a decade ago, their early commitment to this sector positioned them at the forefront of complex, high-stakes transactions, and regulatory challenges in this rapidly evolving market. In 2023, the firm's innovative approaches in steering landmark cases, such as the first-ever receivership of a cannabis company in Massachusetts and the execution of significant M&A deals, highlight their deep industry expertise and strategic acumen.
This award reflects not only Burns & Levinson's mastery in navigating the intricate and often tumultuous terrain of the cannabis sector but also their ability to drive client success amid market saturation and capital constraints.
The firm's proactive stance in addressing industry hurdles, particularly in navigating distress scenarios without traditional bankruptcy protections, sets a benchmark for legal excellence and strategic foresight in the burgeoning cannabis market.