Six Flags considering plan alternatives, eyes exclusivity extension

By Caroline Salls

Pittsburgh, Sept. 21 - Six Flags, Inc. has asked the U.S. Bankruptcy Court for the District of Delaware to extend its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday court filing.

The company wants to extend its exclusive plan-filing period to Jan. 9 from Oct. 11 and the solicitation period to April 9, 2010 from Dec. 10.

Although it has obtained the support of its pre-bankruptcy lenders and general unsecured creditors for the plan filed in August, Six Flags said it is 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.

The company also cited the size of its bankruptcy case.

A hearing is scheduled for Oct. 8.

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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