Mammoth Lakes Files for Bankruptcy

Mammoth Lakes Files for Bankruptcy

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Mammoth Lakes Files for Bankruptcy

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The town of Mammoth Lakes, California has filed for Bankruptcy following a $43-million breach-of-contract judgment brought against the town by a developer. Town officials said that bankruptcy “is the only option that the town is left with”. In order to assure the safety of residents and tourists the town plans to ask the bankruptcy court to approve a 10-year payment plan of about $500,000 a year.

Read more on LA Times Blog – Mammoth Lakes files for bankruptcy

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