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Six Flags auction for credit default swap settlement to be held July 9
By Susanna Moon
Chicago, June 22 - Markit and Creditex said the auction to settle credit default swaps for Six Flags, Inc. and Six Flags Theme Parks Inc. will be held on July 9.
International Swaps and Derivatives Association, Inc. said on June 15 that its Americas credit derivatives determinations committee voted to hold an auction for Six Flags after resolving that a bankruptcy credit event occurred.
Separately, LCDX dealers voted to hold an auction for loan-only credit default swap transactions referencing Six Flags Theme Parks.
Six Flags, a regional theme park company based in New York, and several of its subsidiaries made a pre-packaged bankruptcy filing June 13 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 09-12019.
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