In 2008, after a jury trial, the Mono County Superior Court entered a $43 million judgment against the Town of Mammoth Lakes for breach of a development agreement. The California Court of Appeal, Third District, affirmed the judgment in December 2010, and the California Supreme Court declined to hear the appeal on March 23, 2011. On Monday July 2, 2012, Mammoth Lakes filed for bankruptcy in the face of the judgement. Later the same year, the bankruptcy was dismissed as a result of a settlement between the town and their largest creditor.