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Mammoth Lakes yesterday filed for bankruptcy protection, becoming the 2nd Californian city in 6...

Mammoth Lakes yesterday filed for bankruptcy protection, becoming the 2nd Californian city in 6 days to do so after Stockton entered Chapter 9 last week. Mammoth Lakes, which has assets of over $100M and debt of more than $50M, made the filing after its largest creditor refused to negotiate concessions on a $43M legal judgement. (previous)
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Comments (2)
  • thexperience
    , contributor
    Comments (19) | Send Message
     
    C'mon guys, everybody's doin' it!
    4 Jul 2012, 02:58 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Ha. At least Mammoth got a Chapter 9 (unlike Boise County). This case differs significantly from Stockton - speculative property developers gaming the legal system against ignorant municipalities.
    4 Jul 2012, 08:22 PM Reply Like
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