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9th Cir Affirms Ch. 11 Plan Indirectly Supported by State-Legal Marijuana – American Bankruptcy Institute Journal

Jerrold Bregman’s article, “9th Cir Affirms Ch. 11 Plan Indirectly Supported by State-Legal Marijuana,” was featured in the August 2019 issue of American Bankruptcy Institute Journal. The article details some of the recent rulings that allow marijuana businesses access to bankruptcy courts. Jerrold explains that a recent Ninth Circuit court decision “marks another significant step toward allowing access to the bankruptcy courts for marijuana businesses that are operating in accordance with state law despite the fact that the growth, processing and sale of marijuana continues to be illegal under federal law — specifically the federal Controlled Substances Act (CSA).” The article goes on to state that “each successive decision expands access to the bankruptcy courts by participants in the marijuana industry.”

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