Hedge Fund Pillories Six Flags Ch. 11 Plan

Law360, New York (April 15, 2010, 7:56 PM EDT) -- Resilient Capital Management LLC, a hedge fund holding preferred shares of Six Flags Inc., is trying to have a say in the confirmation hearings for the bankrupt theme park operator, claiming that the debtor has drastically undervalued the $2.7 billion company in a Chapter 11 plan rigged to benefit corporate insiders.

Resilient urged Christopher S. Sontchi to let it participate in the confirmation hearing April 28 in the U.S. Bankruptcy Court for the District of Delaware, contending that the debtors and bondholders have concocted a reduced...
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