Ninth Circuit Considers Availability of Bankruptcy to Cannabis-Related Businesses


The value of the legitimate cannabis industry in the United States (measured by annual sales) is rapidly approaching $10 billion and expected to exceed $20 billion within the next five years. As the market grows, many companies that do not grow or sell cannabis are nonetheless doing business with those that do. Media companies are running advertisements for dispensaries, agricultural-equipment manufacturers are selling machinery to cannabis growers, and lawyers, accountants, and other professionals are providing services to clients directly involved in the industry.