MJ Biz reports
Herbl’s meteoric fall and ensuing receivership are nearing an end.
Two separate buyers placed winning auction bids totaling more than $1.4 million to acquire certain assets from the defunct California marijuana distributor, according to court documents and industry sources.
MJBizDaily also confirmed that a bundled package of unsettled Herbl legal disputes was acquired by Beverly Hills law firm Ervin Cohen & Jessup for an undisclosed amount.
California distribution giant Nabis confirmed that it acquired Blackbird, a Nevada distributor that entered receivership after Herbl’s collapse in June 2023.
Nabis acquired the company for $850,000, according to a listing update from WeCann, the Orange County, California-based firm handling Herbl’s asset sales on behalf of Kevin Singer, Herbl’s court-appointed receiver.
Herbl’s accounts-receivable claims, another asset listed under receivership, was sold for $600,000 to a private investor, according to court documents.
With these transactions finalized, Herbl’s lone asset in receivership is the company’s technology platform, which was designed to streamline cannabis-distribution processes.
“We are happy with the progress so far and hope to have this closed in a month or two,” WeCann told MJBizDaily reporter Chris Casacchia about the Herbl receivership proceedings.
Read in depth report https://mjbizdaily.com/receivership-unloads-3-assets-from-marijuana-distributor-herbl/?utm_campaign=MJBizDaily&utm_medium=email&_hsmi=297054258&utm_content=297054455&utm_source=hs_email
Sean Hocking
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