Pelorus Fund REIT Seeks To Force StateHouse Holdings Into Receivership
In a significant move within California’s cannabis industry, Pelorus Fund REIT, LLC has filed a complaint in the Superior Court of California, requesting the appointment of a receiver to oversee StateHouse Holdings Inc.
The move comes after StateHouse (OTC:STHZF) defaulted on four loans, prompting Pelorus, a major creditor, to seek court intervention.
According to Dan Leimel Jr., CEO of Pelorus, the receivership aims to safeguard StateHouse’s operations, employees and assets while restructuring the company for enhanced efficiency and product delivery. “We recognize the inherent value in the …