Six Flags Noteholders Launch Power Play

Law360, New York (November 30, 2009, 4:40 PM EST) -- Opposing a newly amended Chapter 11 reorganization plan, a group of Six Flags Inc. senior bondholders has proposed an alternative reorganization plan that would give the noteholders control over the bankrupt amusement park operator.

The group — which says it represents holders of more than $500 million in Six Flags senior notes and is led by Wisconsin-based Stark Investments — announced Sunday that it had drafted a plan that would transfer most of the theme park's equity to it as Six Flags prepares to exit Chapter...
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