… in2008.  The parks made $275 million and they entertained 25 million guests.  If you’re an amusement park fan, don’t fear, because Six Flags isn’t closing anytime soon.  The president of the company, Mark Shapiro, said the Chapter 11 is “strictly a financial restructuring”.  The main reason for the bankruptcy is that the company can’t shake $2.4 billion in debt.

Next, the Phoenix Coyotes filed for bankruptcy in May.  Many people never imagined seeing pro sports teams …

Tags: Amusement park Chapter 11 Title 11 United States Code Six Flags

Theme park operator Six Flags has announced that it could exit Chapter 11 bankruptcy as earlier as March under an $830 million financing deal it is arranging with lenders. But already Six Flags’ creditors are squabbling about how to hand the bankruptcy reorganization plan.

Six Flags’ reorganization plan is supported by a steering committee of its secured creditors and led by investment firm …

… family alleged that the Chrysler truck had a defective transmission that allowed it to slip from park to reverse, resulting in the fatal head injury for Mraz. A Dodge Dakota pickup truck recall was issued in 2000 to fix the defect, but the Plaintiffs said that the fix did not work.”

The settlement is the result of the new Chrysler refusing to accept exposure to personal injury claims that occurred before the bankruptcy.  This settlement will be paid out of the assets of the old …

… on the project.  And Amegy Bank has scheduled an Oct. 6 foreclosure for a 55-unit Highland Park apartment complex at 4201 Lomo Alto Drive. Built in 2000, the luxury rental complex is owned by an Austin investor, Highland Park Residences LP, that borrowed $17.3 million on the property when it was purchased in 2004, according to the foreclosure filing.”

The increase in commercial real estate foreclosures is the materialization of one of the industry’s worse fears. As the credit …

… noteholders presented a competing bankruptcy plan to reorganize the bankrupt Six Flags theme park, accusing the Six Flags’ management team of creating a plan that only looks out for their interests.

The article said:

“Noteholders, who are collectively owed $1.3 billion, would split the company among themselves and fully pay off Six Flags lenders under the plan… The noteholders asked U.S. Bankruptcy Judge Christopher Sontchi for permission to file the competing plan and allow …

The Consumer Law & Policy blog has a very revealing article about a judge in Indiana that took it upon herself to give indigent debtors a choice–”pay up” or “go to jail.”

The blog writer provided the transcript of an exchange between the debtor and the judge:

The Court: “So we’re here today for you to explain what you’re going to do to pay this off.”

Mr. Button: …

Comment by The 300 lb. Gorilla: … living on a park bench but i did WHATEVER needed to …

… you for lunch, suggest hooking up at the museum or packing a lunch to take on a walk through the park.   Instead of spending money on books, movies, and music, see if your library offers them for low or no cost.  Your librarians will certainly appreciate the patronage!

… to develop and deliver a full-circle marketing program offers Chrysler a unique platform for in-park brand promotion, unfettered access to millions of consumers, and a direct association with the worldwide leader in thrills.”

Bankruptcy may not be the right option for every company or consumer.  Kimberly Clark is looking to cut jobs instead of using bankruptcy as a debt management tool.  Many people look at bankruptcy and debt management as the beginning of the end and a culmination …

… to develop and deliver a full-circle marketing program offers Chrysler a unique platform for in-park brand promotion, unfettered access to millions of consumers, and a direct association with the worldwide leader in thrills.”

Bankruptcy may not be the right option for every company or consumer. Kimberly Clark is looking to cut jobs instead of using bankruptcy as a debt management tool. Many people look at bankruptcy and debt management as the beginning of the end and a culmination of a …

… to develop and deliver a full-circle marketing program offers Chrysler a unique platform for in-park brand promotion, unfettered access to millions of consumers, and a direct association with the worldwide leader in thrills.”

Bankruptcy may not be the right option for every company or consumer. Kimberly Clark is looking to cut jobs instead of using bankruptcy as a debt management tool. Many people look at bankruptcy and debt management as the beginning of the end and a culmination of a …

… A Six Flags bankruptcy could have far reaching effects in Texas causing job losses at the theme park and other businesses that depend on it for their survival.

… of unsold houses, several areas have more than a 10-month supply, including North Dallas and the Park Cities.

Fewer homes sold means less people need to be employed in the real estate market. Could this decline in home sales mean another round of job losses in the real estate market and other industries dependent upon it? For the past 10 years or more, the booming housing market has been the main catalyst of our economic growth, now with the rise of foreclosures, it seems to be the …