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Author Topic: Six Flags Files Chapter 11 Bankruptcy Protection  (Read 639 times)

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Offline Jason

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Six Flags Files Chapter 11 Bankruptcy Protection
« on: Jun 13, 2009, 03:29 »
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Offline steel

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Re: Six Flags Files Chapter 11 Bankruptcy Protection
« Reply #1 on: Jun 13, 2009, 03:46 »
Yeah, that was going to happen for a while. Hope everything works out okay for the parks.









Except SFKK.
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Offline silverstreak

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Re: Six Flags Files Chapter 11 Bankruptcy Protection
« Reply #2 on: Jun 14, 2009, 09:45 »
i never understood what happened inthese cases...they just forget current debt and start over...
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Offline Ben

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Re: Six Flags Files Chapter 11 Bankruptcy Protection
« Reply #3 on: Jun 16, 2009, 08:30 »
I would say it is more like "aggressive debt restructuring"  It isn't really like personal bankruptcy.

Hopefully this works for them.  I see them making there way through this but I think they will end up with a few less parks and even fewer new rides in the next couple of years.
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Offline Swoosh

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Re: Six Flags Files Chapter 11 Bankruptcy Protection
« Reply #4 on: Jun 16, 2009, 09:20 »
Chapter 7 is known as "straight" bankruptcy or "liquidation." It requires a debtor to give up property which exceeds certain limits called "exemptions", so the property can be sold to pay creditors.

Chapter 11, known as "reorganization", is used by business and a few individual debtors whose debts are very large.

Chapter 13 is called "debt adjustment". It requires a debtor to file a plan to pay debts (or parts of debts) from current income.
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Offline Ben

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Re: Six Flags Files Chapter 11 Bankruptcy Protection
« Reply #5 on: Jun 16, 2009, 10:12 »
^thanks for the google search.
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"Life moves pretty fast If you don't stop and look around once in a while, you could miss it." Ferris Bueller
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Offline Swoosh

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Re: Six Flags Files Chapter 11 Bankruptcy Protection
« Reply #6 on: Jun 16, 2009, 01:45 »
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