Mammoth Lakes, Calif., won dismissal of its bankruptcy case after settling the $43 million development lawsuit that forced the company to seek court protection from its creditors, Bloomberg News reported yesterday. Bankruptcy Judge Thomas Holman signed an order yesterday ending the case about four months after the town became the second of three in California to file bankruptcy this year. Community leaders put the town into bankruptcy in July after being ordered by a state court to pay $43 million to its biggest creditor, Mammoth Lakes Land Acquisition. The town announced a settlement with the company the following month, and in September it asked Holman to dismiss the case.
