With numerous bankruptcy and site issues, there’s been much speculation in recent weeks that the Rothbury Music Festival may never bd be able to offer a follow up to its inaugural edition, which brought Dave Matthews, Widespread Panic, Trey Anastasio, and more than a hundred others acts to Rothbury, Michigan last summer. However, it now appears that Rothbury may in fact be one step closer to returning for 2009 after having reached an agreement with a U.S. Bankruptcy Court on the lease of the festival’s home, the Double JJ Resort, over the weekend.

According to Dave Alexander of the Kalamazzo Gazette, Rothbury producer AEG Live and Thomas A. Bruinsma, the bankruptcy trustee of the Double JJ Resort, have agreed on a proposal that will allow Rothbury to return to the site for its sophomore edition. Bruinsma gained control of the resort after it was revealed that former owne Bob Lipsitz owed over $20 million in back payments. Now, the only issue remaining before Rothbury officially can announce its 2009 return is for a federal bankruptcy judge to approve the deal.

If the festival does indeed take place, Alexander goes on to note that the recently reunited Phish, Tom Petty & The Heartbreakers, AC/DC, Foo Fighters and Coldplay are among the possible headliners for 2009. We’ll throw The Dead into that list as well, just for the fact that they’re touring, while the Foo Fighters are not.

A final decision is expected in the coming weeks. We’ll of course keep you updated.