With new legal and financial experts on board, the Mammoth Town Council expects to learn more about the Town’s financial
position and what Mammoth can afford to pay on the $30 million court judgment.
Interim Town Manager Marianna Marysheva-Martinez confirmed that the Town has hired a bankruptcy firm, Sulmeyer-Kupetz of Los Angeles. The Council decided to hire a financial advisory firm, Kibel Green, of Santa Monica.
Manager Martinez said that it was always the intention of the Town to hire outside experts to look at the Town’s financial position and to determine what Mammoth can afford to pay on the big judgment.
Martine said these experts will give Mammoth an outside perspective, and, she said, they are experts who deal specifically with issues of this nature. The financial expert, said Martinez, will help analyze the town’s assets and liabilities, generally. The bankruptcy attorney, she said, “will helps figure out how to stay outside of bankruptcy.” Martinez said it is her professional hope as Town Manager to avoid bankruptcy.
Municipal bankruptcy is not necessarily an easy matter to accomplish. Some sources say that cities must gain state approval. Martinez said she believes it is not easy, and “not advisable.”
On another matter, the Town Council did list discussion of a permanent town manager in a closed session last week. When asked if she is interested in the position, Marysheva-Martinez said, “There is no process for selection really. I like it here and want to help the Town Council,” said Martinez, “but I do have a family in Southern California. If it works out and my family gets attention and the Town receives adequate attention, then there may be a mutual interest.” Marysheva-Martinez took over the job of Interim Town Manager shortly after the departure of previous Manager Rob Clark.