Legal Business – Monster Beats Kopfhorerde Wed, 03 Aug 2022 10:10:18 +0000 en-US hourly 1 Legal Business – Monster Beats Kopfhorerde 32 32 FanDuel promotes former JPMorgan attorney to chief legal officer Wed, 03 Aug 2022 10:10:18 +0000

FanDuel Inc.the sports betting firm, elevated Carolyn Renzin to chief legal officer after adding at least half a dozen attorneys this year.

Renzin, a former in-house lawyer at JPMorgan Chase & Co., takes on the role after serving since early last year as head of risk and compliance at FanDuel, which is owned by Irish bookmaker Flutter Entertainment Plc.

She succeeds Christian Genetski, a longtime FanDuel attorney whose company announced last month that he would move to overseeing its business development, corporate strategy, government affairs and partnership units in its new role of president. FanDuel announced Renzin’s promotion in an August 1 statement.

The company and its Boston-based daily fantasy sports and gaming rival, DraftKings Inc., have faced a changing legal and regulatory landscape amid a US sports betting boom.

Fanduel operates in 15 US states and has partnerships with professional sports leagues and franchises. He enlisted law firms to work with federal and state government officials in an effort to make sports betting even more mainstream.

Public records show FanDuel paid $10,000 last year to Skadden, Arps, Slate, Meagher & Flom for the company to lobby Congress.

Intellectual property boutique Erise IP and Fenwick & West have collectively played a role in nearly 53% of FanDuel’s caseload in US federal courts over the past five years, according to data from Bloomberg Law.

Wachtell, Lipton, Rosen & Katz advised Flutter in its bid to take over FanDuel in 2018 from the company’s former owners, who turned to Wilson Sonsini Goodrich & Rosati two years later to manage their exit from 4, $2 billion from the company.

Legal hiring spree

New York-based FanDuel has hired at least half a dozen attorneys so far this year, said company spokesman Kevin Hennessy.

These include former Wilson Sonsini partner Brian Fried and Societe Generale SA lawyer David Khalily, who were hired in May as legal and regulatory adviser and chief privacy and security officer. data, respectively.

Thomas Szymanski, who earlier this year became a partner at FordHarrison, joined FanDuel in April as director of labor and employment.

Herrick, partner of Feinstein, Audrey Sheetz was hired in March as a trial attorney.

And in January, FanDuel added former Skadden partner Brendan Lum and Oneworld Management Co. general counsel Andrea Berner to its legal, business and regulatory affairs ranks.

FanDuel also promoted Jonathan Fishner, a former Sidley Austin associate who was hired two years ago, to senior manager of federal regulatory compliance and anti-money laundering in March, said Hennessy, the company’s spokesperson.

Fishner is part of a FanDuel legal team that includes legal and business counsel Alan Conklin, who joined the company in late 2021 from LG Electronics USA Inc. FanDuel also brought in Charles Hurley, a former Chief Business Officer of the now defunct Arena. Football League, in an in-house counsel role last year.

Genetski, FanDuel’s former chief legal officer, said in a statement that during Renzin’s nearly three-year tenure, she helped build a regulatory and compliance function at a time of “transformative change” for the company.

“I am confident that she is the right choice to lead our high-performing legal team in the future,” he said.

Longtime Walmart executive retires; retailer sees staffing changes in legal and communications departments Mon, 01 Aug 2022 19:47:30 +0000

Del Sloneker, the influential Walmart executive who has held multiple leadership positions around the world for the Bentonville retailer, is retiring at the end of the year, according to a July 22 memo sent to employees of Walmart’s U.S. CEO. , John Furner.

Sloneker, who has worked for Walmart since 1986, is a senior vice president working for the company’s Walmart+ operations. He left this job at the end of July, but will continue to work on special projects until December. Her Walmart+ responsibilities have passed to Executive Vice President Diana Marshall.

Prior to focusing on Walmart+, Sloneker was the COO of Walmart US Health and Wellness. During his career, he also served as COO of Walmart China, Vice President of Online Grocery Operations and Vice President of Walmart Puerto Rico. In 2001, Walmart presented Sloneker with its highest honor, the Sam M. Walton Award for Entrepreneur of the Year.

“Del has leveraged its deep expertise as an operator to help bring Walmart+ to life in our stores,” Furner wrote in the memo. “Del embodies the customer-centric mindset. He has a deep rooted love for Walmart and is an impeccable culture champion. I appreciate his wisdom and transparency and appreciate the impact he has had on the business. Del’s legacy will live on long after he is gone.

Joe Beemsterboer joined Walmart on July 25 as vice president of government enforcement and forensic investigations. He spent 12 years with the US Department of Justice, most recently serving as Chief of the Fraud Section within the DOJ’s Criminal Division. He will be based in Washington DC and will report directly to Bob Balfe, chief counsel for global investigations at Walmart.

Walmart said Beemsterboer will develop a government enforcement strategy and lead the ongoing efforts of legal investigations and government response teams. Prior to his 12-year career at the DOJ, he spent five years as an assistant state attorney in Cook County, Illinois. He has also represented Fortune 500 companies in corporate litigation and conducted internal corporate investigations during his time in private practice.

Brian Besancency, director of communications at Walmart, recently announced his departure from the retail giant for a role with aerospace titan Boeing. Besanceney will report to Boeing President and CEO David Calhoun and join the company’s executive board in his new position.

Besancency spent six years at Walmart, most recently overseeing Walmart’s global communications operations. Prior to that, he spent seven years at Disney as senior vice president of public affairs and government relations. Prior to Disney, he spent 15 years in Washington working in government affairs for the US State Department, Homeland Security and the White House.

In his social media post, Besancency said he was grateful for his time at Walmart and the caliber of leaders he was able to work with over the past six years. He said the new trip with Boeing will begin Sept. 6 after moving to Arlington, Virginia.

]]> “My heart is crying”: Singapore increases the pace of executions Sun, 31 Jul 2022 01:52:46 +0000

Kalwant Singh’s death sentence was settled in a Zoom call.

The Malaysian watched from jail as his appeal was discussed virtually by three judges in Singapore this month. For Singh, convicted of smuggling around 120g of heroin, it was his last chance for a reprieve after spending more than six years on death row. He listened in silence as a translator interpreted the discussion.

Although he agreed to provide evidence to the police, Singh’s appeal was denied. He was hanged the next day.

After two years without any hangings, Singapore carried out six executions in 2022, the highest level since 2018, including an intellectually disabled man who was hanged in April. At least seven other prisoners have received execution notices, according to anti-capital punishment activists in the city-state.

“Singapore does not give us time to digest the previous execution. Suddenly the next one is coming,” said Sangkari Pranthaman, whose brother Pannir Selvam is on death row. “Pannir is in the danger zone. . . My heart is crying.”

Kirsten Han, who has campaigned against the death penalty for more than a decade, suspects more execution notices are being issued as there is a lack of space on death row. “It’s definitely been the worst year I’ve seen,” she said.

It could be “very similar to how hospitals free up beds for more patients. They’re cleaning cells for more people than they’re going to put on death row.”

Singapore’s stubborn commitment to capital punishment has exposed regressive policies in one of the world’s most liberal economies, critics have said.

For decades, the affluent city-state has attracted wealthy expats thanks to its reputation for safe streets, rule of law and strong legal protections for business transactions.

But its treatment of foreigners convicted of trafficking even small amounts of drugs exposes a darker side to Singapore, activists said.

The recent revival of the death penalty by the financial hub could also strain the diplomatic and trade relations on which it depends. Last week the EU called for an immediate suspension of the hangings, warning Singapore that it was a “cruel and inhumane” punishment.

“Governments just shouldn’t kill people,” British tycoon Richard Branson told Vice News this year, as he called on Singapore not to execute Nagaenthran Dharmalingam, a Malaysian drug trafficker whose supporters have said he had an IQ of 69.

“Business leaders take these things into consideration. . . If you are in a country that applies the death penalty [and] another that is not death sentence, you have a choice of where you are going to put new offices.

Pannir Selvam, 4, with his siblings

However, multinationals in Singapore still largely avoid the problem. Companies such as Google and Goldman Sachs have come under fire for supporting liberal causes, with the government blocking them from funding the annual gay pride parade in 2016.

Singapore faces little pressure from voters to reverse its position. A 2016 survey by the National University of Singapore found that 87% of residents supported executions for drug trafficking.

In the face of growing criticism this year, Singapore has defended capital punishment as protecting lives, arguing it has a “clear and deterrent effect on drug traffickers”. The Home Office added that the punishment was applied through a “rigorous legal process with strict judicial safeguards” and that the courts concluded that Dharmalingam was not disabled.

The government does not readily release details of who is at risk of execution. Transformative Justice Collective, which supports convicts, said at least 59 people were on death row. Prisoners’ families said inmates slept on the floor in isolated cells and could hear the sounds of others being hanged.

It has been difficult to find lawyers willing to take on execution cases, although activists said four planned executions this year have been put on hold by legal challenges. Many convicts come from impoverished backgrounds, often across the Malaysian border, and struggle to collect court costs.

“No lawyer wants to take on this case anymore,” Nazera Lajim said, days before his brother Nazeri was executed this month for drug trafficking. She said Nazeri, who only had a primary school diploma and became addicted to heroin at age 14, had to file his own appeal in court.

Pranthaman, who travels by bus overnight from Malaysia to see her brother in jail on Saturdays, said she was arrested by police and forced to give a statement after posting a drawing on Facebook of the room where she visits him.

“I’m not interested in going to this country anymore except to visit my brother,” she said. “They claim they are the safest country. [But] you have no freedom at all.

The upsurge in executions, however, has not deterred foreigners from wealthier countries. Far from Changi Prison, expats still crowd the central business district.

“It’s not for me to say [Singapore] how to do their business. . . If people are tried in court as scheduled, then that’s it,” said a recent arrival when asked about the executions. “If you don’t like it, there are other places to call home.”

Administrators banned for abusing the dissolution procedure Fri, 29 Jul 2022 10:04:46 +0000

The four directors were disqualified after they all got bounced loans before dissolving their companies to avoid paying off their debts.

In the most recent case, Sirfraz Ahmad of Leeds was disqualified for 10 years after he overstated his turnover to secure a higher bounce-back loan he was not entitled to.

Instead of using the government guaranteed loan to support the business, Food Box Leeds Limited, Sirfraz Ahmad wasted £25,000 paying off his family members.

Sirfraz Ahmad joins Max Hadley, Lewis Wright and Jake Joynt on the disqualifications register after the Insolvency Service used new powers to crack down on unscrupulous directors who dissolve companies to avoid paying their debts.

The Insolvency Service has the power to investigate directors of companies that enter any form of insolvency, including administration and liquidation. The insolvency department may also be tasked with investigating active businesses where there is evidence of wrongdoing.

The Rating (Coronavirus) and Disqualification of Directors (Dissolved Companies) Act, which came into force in December 2021, extends the investigative powers of the Insolvency Service, on behalf of the Business Secretary, to directors of dissolved companies .

If misconduct is found, directors can face penalties, including being disqualified as a company director for up to 15 years or, in the most serious cases, prosecution.

Business Secretary Lord Callanan said:

The government has provided unprecedented support to businesses to help them through the pandemic, but unfortunately a minority of people have abused this support for personal gain.

We have made it clear that we will not tolerate those who seek to defraud the taxpayer, which is why we have introduced strict new powers which have allowed the Insolvency Service to disqualify directors for dissolving their companies, in order to avoid repaying their bounce loans.

Consultant Lewis Wright received a £50,000 loan in June 2020 after his business had gone out of business the year before. Lewis Wright was given the maximum loan amount after pumping up his turnover before paying himself just over £47,000. He is disqualified for 12 years.

Max Hadley, director of Prestige Building Works and railway engineer, received a 10-year ban after securing a £20,000 repayment loan before spending £18,000 on unrelated payments to the construction company.

And Jake Joynt received a 7-year disqualification after being given a £15,000 bounce loan before spending £13,000 of it for personal use.

The four directors are prohibited from involving themselves directly or indirectly in the promotion, incorporation or management of a company, without the authorization of the court.

The Insolvency Service is considering recovering loan repayment funds by using statutory powers to seek compensation orders against administrators, if appropriate.

Business and Philanthropy Sectors Lead Anti-Human Trafficking Initiatives Tue, 26 Jul 2022 19:15:00 +0000

The United States Chamber of Commerce and United Way Worldwide produced the publicationTrust through performance: uniting business and philanthropy against trafficking to commemorate the World Day Against Trafficking in Persons, which is held annually on July 30.

This report highlights the critical role that business and philanthropic sectors play in countering this heinous crime and what businesses are doing to lead the fight against trafficking.

Companies are using technology tools such as Traffik Analysis Hub, Verité’s CUMULUS Forced Labor Screen™ and Counter Human Trafficking Compliance Solutions (CHTCS) Global Rizk Assessment Technology™ (GRAT) to map data and supply chains to detect and to remedy forced labour.

A call center in the Philippines, for example, which was bidding on contracts with US-based retailers, deployed CHTCS’ GRAT platform to uncover compliance and labor practices that could expose the center to a potential forced labor in its workforce. GRAT automatically generated reports and recommendations for the call center, which then took steps to mitigate risk and ensure it was conducting its business legally and ethically.

This post highlights the following companies and their initiatives to empower survivors:

Delta Airlines

Delta SkyMiles members donate miles to Polaris through the SkyWish program. Delta employees and customers have donated more than 15 million miles to provide more than 250 flights for survivors.


Deloitte helped AnnieCannons, Inc. identify a training location that will allow the organization to expand its operations to retrain survivors with data science skills.


Marriott is partnering with the Global Fund to End Modern Slavery to develop the Future in Training Hospitality Survivor Employability Curriculum to provide training and resources for survivors seeking careers in the hospitality industry. hotel.


UPS provides funding to the United Way Anti-Human Trafficking Center, which scales anti-trafficking projects by energizing, coordinating and mobilizing the United Way Worldwide network and partner organizations working on the front lines.

The United States Chamber of Commerce and United Way Worldwide have partnered to demonstrate the importance of using a cross-sector approach to combat human trafficking. The business community and philanthropic sectors cannot do this work alone. We encourage governments, non-governmental organizations and law enforcement agencies, among others, to join us in this fight.

Trust by Performance: Uniting Business and Philanthropy Against Trafficking Report

About the authors

Michael Ticket

Director, Policy Research, Employment Policy, U.S. Chamber of Commerce

Michael Billet, Director of Policy Research for Employment Policy at the U.S. Chamber of Commerce, updates Chamber members and internal policy staff on ongoing labor legislation, l immigration and health care, as well as federal regulatory and sub-regulatory activities. He is also responsible for planning the Chamber’s annual workplace and community wellness forum.

Read more

Gaddafi’s widow appeals Malta’s decision to repatriate funds to Libya Sat, 23 Jul 2022 08:49:00 +0000

VALLETTA, July 23 (Reuters) – The widow of former Libyan leader Muammar Gaddafi has appealed a Maltese court ruling ordering the Bank of Valletta to return some 95 million euros to Libya ( $100 million) deposited by Gaddafi’s late son, Mutassim, according to court officials. said.

Safiya Ferkash Mohammed and her lawyers argue in their appeal that the courts lacked jurisdiction and could not decide the matter over the funds.

The sentence was pronounced at the end of June after a legal battle that began in 2012, a year after the overthrow and assassination of Gaddafi.

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Mutassim, who was also killed, was found in possession of several Bank of Valletta credit cards as the owner of a company registered in Malta.

The appeal was filed on behalf of Gaddafi’s heirs by Maltese lawyer Louis Cassar Pullicino. No hearing date has yet been set.

The original court had upheld the Libyan attorney general’s arguments that under Libyan law, as an army officer, Mutassim had been prevented from profiting from any business interests.

Moreover, he had not submitted a complete declaration of assets as required by law.

In her appeal, the widow argues that the Libyan laws invoked in the case were criminal but that no criminal prosecution was ever brought against Mutassim Gaddafi or his heirs.

Furthermore, Maltese courts have been asked to grant Libya a remedy under a foreign criminal law when in principle a domestic court cannot apply the criminal law of a foreign state to grant such a remedy.

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Reporting by Chris Scicluna; edited by Jason Neely

Our standards: The Thomson Reuters Trust Principles.

448 notices served on e-commerce entities for reporting violations Thu, 21 Jul 2022 03:02:00 +0000

Up to 448 notices have been served on e-commerce entities for violation of the statement in the past one year and nine months and a fine of around Rs 78 lakh has been charged to the companies as a compound fee for violation of the statement, the Ministry of Consumer Affairs, Food and Public Distribution informed on Wednesday.

Union Minister Ashwini Kumar Choubey, in a written response to a question in Lok Sabha, informed on Wednesday that the Legal Metrology (Packaged Goods) Rules 2011 under the Legal Metrology Act 2009 provide that an e-commerce entity must ensure that the name and address of the manufacturer or packer or importer, maximum retail price (MRP), country of origin, common or generic name of merchandise, net quantity, month and year of manufacture, customer service details, etc. must be displayed on the digital and electronic network used for electronic commerce transactions.

This is to ensure that the consumer makes an informed and conscious decision based on the declaration of the product on the e-commerce platform, the ministry said.

For reporting violations by e-commerce companies, 38 notices during the period of October 16, 2020 to December 31, 2020, 232 notices during the period of January 1, 2021 to December 31, 2021 and 178 notices during the period of January 1, 2022 on July 11, 2022 were issued by the Department of Legal Metrology, Department of Consumption.

And an amount of around Rs 77,90,500 in the form of compound fees has been made from e-commerce companies.

State governments are also empowered to take action for breaches of the Legal Metrology (Packaged Goods) Rules 2011, he added.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
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UK Legal Services Market Report 2022: Revenue Rebounded Strongly in 2021 Driven by Corporate Law Growth – Tue, 19 Jul 2022 12:15:00 +0000

DUBLIN–(BUSINESS WIRE)–The report “UK Legal Services Market Report 2022” has been added to from offer.

The UK Legal Services Market Trend Report provides in-depth and unique review and analysis of the UK legal services market, including conveyancing, family law, personal injury, wills and probate.

After a difficult period in 2020, the UK market for legal services (including private practices, solicitors, patent agents and other legal service providers) rebounded in 2021 with market value growth at current prices of 12 .4%.

For the first time in 2021, the number of law firms in England and Wales fell below 10,000: at the end of the year there were 9,809 firms. In England and Wales, the incorporated business model now accounts for the majority of law firms (52%). Only 13% of companies still operate under a traditional partnership model.

Legal advice for business and commercial matters (including commercial property) is the largest specific market segment and it grew its share of the total UK legal services market to over 47% in 2021. The market value of consumer law was estimated at nearly £22 billion and the largest segment of work related to personal injury/accident/medical negligence was valued at over £4 billion.

Family law and labor law are the other most important segments. The different areas of consumer law saw mixed fortunes in 2021. Conveyancing, labor law (for both employees and employers), and probate legal advice performed relatively well while family law was not far behind. The number of divorces has declined year over year over the past few years, but demand in other areas of family law is still healthy.

The personal injury sector is still struggling with a further drop in claims in 2021 after a sharp decline in 2020, although the clinical negligence sector had a better year.

The criminal law sector saw a sharp drop in cases in 2021 and faces a large backlog. After double-digit growth in 2021, revenue growth is expected to increase between 7% and 8% in 2022, and growth should continue to be driven by the corporate law market.

Most areas of consumer law are expected to experience sustained growth, with personal injury again being the exception. Rising cost of living and some weakening in consumer confidence may also impact the conveyancing industry.

Main topics covered:

1. Summary

2. Structure of the market

  • Most legal advisers are regulated

  • Law firm sectors

  • The number of law firms decreases in 2021 and falls below 10,000

  • The number of rooms increases in 2020

  • Authorized carriers

  • Patent and Trademark Attorneys

  • Cost Lawyers

  • Alternative Business Structures (ABS)

  • Alternative Legal Service Providers

  • Other Legal Service Providers

  • Personal numbers

3. Market development

  • Reshaping legal services to better meet the needs of society

  • Government drops plans for further whiplash claims reform

  • No-fault divorce becomes a reality in 2022

  • Spending review gives MoJ £3.2bn budget boost

  • Additional Investment in the Criminal Legal Aid System

  • Law Society Forecast of Legal Services Activity to 2028

  • Some court costs increased in England and Wales in 2021

  • LSB refuses to deselect ACCA as homologation regulator

  • Lawtech attracts £674m of private investment through the end of 2020

4. The key players

  • The Top 100

  • Acquisitions and mergers

  • Top 5 UK Law Firms – Profiles

  • DLA Piper International LLP

  • Clifford Chance LLP

  • Hogan Lovells

  • Allen & Overy LLP

  • Linklaters LLP

  • Other Selected Legal Service Providers

  • Listed law firms

  • DWF

  • Gateley PLC

  • The Ince group automaton

  • Keystone Law Group PLC

  • PLC Knights

  • NAHL PLC Group

  • RBG Holdings PLC (Rosenblatt)

  • Consumer law firms

  • Cooperative legal services

  • Irwin Mitchell LLP

  • Simpson Millar LLP

  • Slater & Gordon Lawyers

5. Market Size and Trends

  • Market turnover estimated at over £41 billion in 2021

  • UK exports of legal services reach nearly £7bn

6. Market segmentation

  • Corporate, financial and commercial law

  • M&A activity

  • Company Formations and Insolvencies

  • Commercial courts

  • International litigation and dispute resolution

  • personal injury

  • The number of cases drops significantly in 2020/21

  • Claims dropped by more than 100,000 in calendar year 2021

  • The number of Pi claims reaching the courts drops for the fourth year in a row

  • Commercial and residential property, including transfer of ownership

  • Bouncing back in real estate transactions in 2021

  • Wills, Trusts and Probate

  • Increase in registration applications in 2020 and 2021

  • Family law

  • Family court cases started in 2021 much the same as 2020

  • Labor law

  • Labor Court cases increase since 2017

  • Criminal law

  • The number of criminal trials hit a low in 2020 but increased in 2021

  • The future

  • New growth expected in 2022 but driven by the work of companies

  • Forecasts

7. Professional organizations

For more information about this report visit

About is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, top companies, new products and the latest trends.

CBIC Issues GST Clarifications on Prepackaged Items Starting Monday Sun, 17 Jul 2022 18:10:00 +0000

The Central Excise and Customs Board said on Sunday that single packages of food products such as grains, pulses and flour weighing up to 25 kg will be considered “pre-packaged and labelled” and subject to a GST of 5 % from July 18.

He also clarified that if a retailer supplies the item purchased from a manufacturer or distributor in bulk in a 25 kg package, that sale to consumers will not incur GST.

The CBIC issued a series of frequently asked questions (FAQs) on Sunday evening about the applicability of GST on “prepackaged and labeled” goods, just a day before the 5% GST on such items becomes applicable.

In the context of food products (such as pulses, cereals such as rice, wheat, flour, etc.), the supply of specified pre-packaged food products would fall under the definition of “pre-packaged goods” under the law. on legal metrology. , 2009, if these prepackaged and labeled packages contained a quantity less than or equal to 25 kilograms (or 25 litres).

“It is clarified that a single package of these items (cereals, pulses, flour, etc.) containing a quantity greater than 25 kg/25 liters would not fall under the category of pre-packaged and labeled goods for GST purposes and n would therefore not attract the GST,” he said.

The CBIC has stated that the supply of pre-packaged atta for retail sale to the final consumer of 25 kg will be subject to GST. However, the supply of such a 30 kg package is exempt from the GST levy.

The board also said GST would apply on a package containing multiple retail packages, for example a package containing 10 retail packages of flour of 10kg each, the CBIC said.

For GST purposes, a prepackaged good would mean a good that, without the presence of the purchaser, is placed in a package of any kind, sealed or unsealed, so that the product therein has a quantity predetermined. .

Any such supply requiring reporting under the Legal Metrology Act would incur GST, he said.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
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Struggling New York State Farms Turn to Legal Recreational Pot Production for Business Fri, 15 Jul 2022 23:06:00 +0000

MILTON, NY — Adult marijuana sales will begin in New York before the end of the year, the state’s Office of Cannabis Management promised Friday.

All marijuana sold in New York must also be grown in New York.

On the banks of the river in the sunny Hudson Valley, cannabis consultant Michael Hart is growing one of New York’s first legal recreational pot crops.

“A healthy plant is the start of the game, always try to have a healthy plant, healthy seedlings,” he told CBS2’s Tony Aiello.

Hart is working with Ulster County’s Hepworth Farms, which is switching from vegetables, like cucumbers, to cannabis.

“We’re seriously introducing it to the farming community as an alternative crop. Agriculture is so big in New York as an industry and also that we struggle with,” said Gail Hepworth, co-owner of the farm.

The state grants Hepworth exactly one acre for his crop. It is one of 200 struggling farms that have been granted conditional cultivation licenses as the state slowly ramps up production.

Hepworth will apply for a full cultivation license which will allow them to expand the acreage. The farm has been producing hemp for CBD products since 2019, so switching to marijuana is a natural progression, which doesn’t mean it’s easy.

From seed to seedling to eventual smokable bud, the stage of every potted plant grown in New York State will be tracked and recorded.

Strict regulations govern the production of a product intended to help users relax.

“Very, very regulated. So I liken CBD to playing little league baseball, and then when you get to using adult cannabis, to the World Series,” said Hepworth Farms attorney Jason Minard.

Hepworth believes he will bring a world-class pot to market.

“We have rich soils and we have beautiful air. We have excellent water,” she said.

An acre of green gold in the ground, the start of a fledgling business.