Six Flags Amended Plan Gives Creditors Better Shake

By Richard Vanderford

Law360, New York (November 09, 2009, 5:47 PM ET) -- Bankrupt Six Flags Inc. has rejigged its Chapter 11 reorganization plan to sweeten the deal for creditors, saying sound management and an economic upturn have given it more latitude with lenders.

The theme park owner filed a modified plan Saturday in the U.S. Bankruptcy Court for the District of Delaware, saying it had managed to meet management expectations despite bad weather in the Northeast and swine flu.

Management's performance, along with thawing credit markets, allow the company to restructure what had been a somewhat unpopular plan,...
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