Six Flags Asks Creditors To Take Stock In Ch. 11 Plan

Law360, New York (July 24, 2009, 4:05 PM EDT) -- Six Flags Inc., which filed for bankruptcy protection in June, has proposed a plan to restructure its business that would convert a significant portion of the theme park operator’s debt into equity, including almost all of the common stock of a newly reorganized company.

Six Flags filed its joint plan of reorganization and an accompanying disclosure statement on Wednesday in the U.S. Bankruptcy Court for the District of Delaware.

“These restructuring efforts will continue to allow the debtors to focus their resources on the operation of...
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