Junior Lenders Get Front Seat In New Six Flags Plan

Law360, New York (April 5, 2010, 7:25 PM EDT) -- Theme park operator Six Flags Inc. has filed an amended restructuring plan, shifting its allegiance between rival groups of bondholders for a third time in bankruptcy proceedings that resemble a ride on one of the company's roller coasters.

The fourth amended plan, filed Thursday in the U.S. Bankruptcy Court for the District of Delaware, makes final an agreement reached last month between Six Flags and a group of junior bondholders that dwarfs the older restructuring plan.

The plan includes over $1.2 billion in first- and second-lien...
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