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News Link • Economy - Economics USA

Mammoth Lakes, California files for bankruptcy

• Reuters

Mammoth Lakes, California filed on Tuesday for Chapter 9 bankruptcy protection from its creditors due to a nearly $43 million legal judgment against it.

The filing follows a vote Monday by Mammoth Lake's town council in favor of a bankruptcy filing, specifically to seek protection from the property developer awarded the judgment against the resort town of about 8,000 residents in the Sierra Nevada mountains.

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