Bond holders lose bid to reorganize Six Flags

Posted | Contributed by Jeff

Creditors of Six Flags Inc., the bankrupt theme-park owner, were denied the chance to file a reorganization plan that would compete with a company proposal. U.S. Bankruptcy Judge Christopher Sontchi in Wilmington, Delaware, extended by 60 days the exclusive right of Six Flags managers to reorganize the company without facing a competing proposal from a group of noteholders owed more than $500 million.