Noteholders Bash Six Flags Ch. 11 Plan

Law360, New York (September 16, 2009, 1:49 PM EDT) -- Seeking to advance an alternative plan to restructure bankrupt theme park operator Six Flags Inc., a group of noteholders has slammed management's proposal to offer lenders a majority stake in the company and is instead advocating giving them cash and a chance to participate in a $450 million equity offering.

In a motion filed Friday in the U.S. Bankruptcy Court for the District of Delaware, an informal committee of noteholders asked the court to put an end to Six Flag's exclusivity period in order to give...
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