Receiverships under state law have become an increasingly popular and meaningful alternative to bankruptcy, specifically when there are events of fraud, misappropriations of assets and related regulatory-body involvement. This panel examines the basics of such receiverships and, given the current state of federal law (which excludes cannabis-related businesses from bankruptcy), uses the cannabis industry as an example to discuss the details, benefits and potential pitfalls of state court receiverships for highly regulated businesses. The panelists also explore the Uniform Commercial Real Estate Receivership Act.