The leaders of Mammoth Lakes, Calif., voted yesterday to approve a chapter 9 bankruptcy filing for the ski resort town, Reuters reported yesterday. The town of about 8,000 residents in the Sierra Nevada mountains about 300 miles north of Los Angeles saw no other options after its largest creditor, Mammoth Lakes Land Acquisition, refused to negotiate concessions, according to town leaders. Mammoth Lakes Land Acquisition won a $43 million legal judgment against the town stemming from a property development dispute that began in 2006.
