Unrivaled Brands, a once-prominent subsidiary of California marijuana company Blüm Holdings, has reached a deal to settle litigation with creditors as part of bankruptcy proceedings.
While court records show that Unrivaled’s bankruptcy process has yet to be finalized, the settlement agreement announced in a Monday news release will resolve multiple lawsuits between Unrivaled and People’s California, a California-based distillate cartridge manufacturer that claimed Unrivaled owed it nearly $15 million.
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Exact terms of the settlement are not publicly available.
Jason Assad, a company spokesperson, did not immediately respond to an MJBizDaily request for comment.
In a statement, Sabas Carrillo, the founder of Downey-based Adnant Consulting and Blüm’s current CEO under a restructuring arrangement, said the company is “very pleased with the outcome and terms of
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