[PRESS RELEASE] – PHOENIX, June 26, 2025 – 4Front Ventures Corp., a vertically built-in hashish operator, supplied an replace at the voluntary receivership court cases involving its U.S. subsidiaries and adjustments to its board of administrators.
As prior to now introduced on Might 22, 2025, all U.S. subsidiaries of 4Front filed for voluntary receivership in help of liquidation underneath the rules of the commonwealth of Massachusetts. Those filings had been made within the Trade Litigation Consultation of the Awesome Courtroom for Suffolk County in case No. 2584CV01405 (the “receivership”).
On June 20, 2025, the courtroom entered an order appointing Opus Consulting Companions LLC, thru its primary, Jacques Santucci, as receiver for the subsidiaries and their related property. The receiver has been granted huge authority to perform, set up and pursue the orderly sale of the subsidiaries to maximise worth for collectors and stakeholders. The receiver may be licensed to interact Stone Blossom Capital LLC, whose primary is Richard Ormond, as a senior strategic advisor and adviser in reference to the method.
With the appointment of the receiver and 4Front’s prior to now introduced task pursuant to Canada’s Chapter and Insolvency Act, Kris Krane, chairman of the Board, and David Day by day, director, tendered their resignations on June 26 from the corporate’s board of administrators, efficient in an instant.
More information in regards to the receivership could also be acquired from the receiver; additional info in regards to the chapter could also be acquired from B. Riley Farber Inc., the trustee.
Prison suggest to the corporate is Foley Hoag LLP.
