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Online cannabis investment platform bankrupt, scam claim

The newly formed Dutch company Juicy Holdings B.V. was declared bankrupt last month. It was reportedly 'setting up nurseries for medicinal cannabis plants.' Its activities also included consulting and project financing and building machinery to 'extract essential oils from the plants.'

The initial bankruptcy report of the company, first established in Germany, shows its sole director points to "fraud by a third party" as the bankruptcy's cause. That third party allegedly tried to represent the company and thus attempted to bind the company.

On July 25, 2022, the German financial markets regulator warned about this company on the internet. The Dutch Financial Markets Authority also had the business on its radar. Publications, including Vice, reported on this in the summer. The trustee's investigation will have to determine how this all fits.

Besides the director and the third party, who was in the picture since the company started in August 2021, there might have been one employee. That employment was 'possibly not validly terminated' at the time of the bankruptcy declaration. The trustee, Mr. M.N. de Groot of Amsterdam, has since dismissed that person.

According to the report, there are no debtors, but there may be creditors. In its own insolvency declaration, the director lists about 23 creditors with a claim on the company. The trustee has requested additional data from the accountant to notify those creditors.

In that company bankruptcy declaration, the director states that there are total (unsecured) debts of around €1.4 million. According to the director, in addition to these debts, some debts do not belong to the company, which apparently arose due to unauthorized representation.

The District Court of Amsterdam declared Juicy Holdings B.V. bankrupt on November 4. That registration reference is 13.ams.22.226.F.1300.1.22. Mr. M.N. de Groot is the appointed trustee.