Six Flags' Plan Gyps Some Noteholders: BNY Mellon

Law360, New York (April 21, 2010, 3:28 PM EDT) -- The Bank of New York Mellon has taken issue with the most recent version of bankrupt theme park operator Six Flags Inc.'s blueprint for reorganization, saying the plan gives certain noteholders short shrift by not giving them a chance to buy new common stock through a rights offering.

BNY filed its limited objection to the confirmation of the debtors' modified fourth amended joint plan of reorganization in the U.S. Bankruptcy Court for the District of Delaware on Monday.

The plan rightly classifies all claims against SFI...
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