PE Firm Puts Up Rival Six Flags Ch. 11 Plan

Law360, New York (October 2, 2009, 1:14 PM EDT) -- A private equity firm has become the second stakeholder in the Six Flags Inc. bankruptcy to shoot down management's proposal to turn the majority of the theme park operator over to lenders, putting forward a reorganization plan that would keep control in the hands of existing shareholders.

In a joinder filed on Thursday in the U.S. Bankruptcy Court for the District of Delaware, Resilient Capital Management LLC, a holder of preferred income equity redeemable shares, made a bid to file a second alternative plan, which it...
To view the full article, register now.