Mammoth Lakes, Calif. filing for bankruptcy Tuesday

SAN FRANCISCO, July 3 Tue Jul 3, 2012 2:29pm EDT

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SAN FRANCISCO, July 3 (Reuters) - Mammoth Lakes, California, will file for Chapter 9 protection from its creditors on Tuesday in U.S. Bankruptcy Court for the Eastern District of California, according to its assistant town manager.

The filing will follow a vote July 2 by Mammoth Lake's town council in favor of declaring bankruptcy, specifically to seek protection from a property developer that has a $43 million legal judgment against the ski resort town of about 8,000 residents in California' Sierra Nevada mountains.