Six Flags' exclusive plan-filing period extended through Thursday

By Caroline Salls

Pittsburgh, Dec. 7 - Six Flags, Inc. obtained an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan-filing period was extended to Dec. 10 from Oct. 11 and the solicitation period to Feb. 8 from Dec. 10.

The company had asked the court to extend the filing period to Jan. 9 and the solicitation period to April 9.

Although it has obtained the support of its pre-bankruptcy lenders and general unsecured creditors for the plan filed in August, Six Flags said in the motion that it was seeking support from the full range of its creditors and evaluating all potential alternative plans raised by stakeholders and other parties.

Six Flags said it is willing to revise its proposed plan to gain the broadest possible support.

As previously reported, Six Flags' informal committee of senior noteholders asked the court last week to terminate the company's exclusivity.

The noteholders' committee has submitted an alternative reorganization proposal to the company's board of directors, and the committee said Six Flags' exclusivity should be terminated to allow it to file the noteholder plan with the court.

Six Flags, a regional theme park company based in New York, filed for bankruptcy on June 13. Its Chapter 11 case number is 09-12019.

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