Six Flags shareholders propose another reorganization plan

Posted | Contributed by Chitown

Preferred shareholders of Six Flags Inc. offered their own plan to reorganize the bankrupt theme park owner, claiming they can fully repay the company’s debt and give something back to shareholders, unlike two rival plans. Resilient Capital Management LLC, which holds an undisclosed number of Six Flags’ redeemable shares, filed a proposed term sheet in U.S. Bankruptcy Court in Wilmington, Delaware, as part of its proposal.