RE:RE:RE:Quiz time It's complicated: a) insolvency is state of not being able to pay debts when due in normal course. Lotus is insolvent right now by any legal & accounting definition b) insolvency is either voluntary or involuntary c) under CCAA or BIA. d) if it's involuntary a judgement in favor of any creditors could be the trigger , to enforce collection, that a trustee is appointed to sell or liquidate assets e) cannabis companies need licensed person to sell inventory but this can still occur under voluntary or involuntary f) other creditors may trigger their own debts. Like CRA. g) there would be secured creditor and unsecured creditors committees. h) liquidation of assets or sale of company would occur.
the big issue is some capital is needed in Lotus for a trustee to do its job. It's possible it may be hard to find a trustee in bankruptcy who wants this file.
so it is complex. In short its possible.