Mammoth Lakes, the California mountain resort town, said that it settled the $43 million legal fight that forced the city into bankruptcy last month, Bloomberg News reported yesterday. The town is among three in California that have filed for bankruptcy since June. Mammoth Lakes' case differed from Stockton’s and San Bernardino's because it blamed a single event, a court judgment ordering the town to pay $43 million to a land company. Details of the settlement will remain secret until final documents are signed, the city said in a statement.
