Mammoth Lakes Settlement May Inspire More Ch. 9 Mediation

Law360, San Diego (August 27, 2012, 8:27 PM EDT) -- Mammoth Lakes, Calif.'s settlement last week of the real estate dispute that drove the ski resort town into insolvency is likely to speed up its Chapter 9 proceedings and encourage other municipalities in bankruptcy to use mediation in conjunction with their cases, attorneys say.

Mammoth Lakes, which filed for bankruptcy in July after it could not pay a $43 million court judgment to real estate developer Mammoth Lakes Land Acquisition LLC in a breach of contract suit, said Wednesday that as a result of a mediation...
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