Six Flags Bankrupty

University of Phoenix Material ARTICLE REVIEW FORMAT MEMORANDUM UNIVERSITY OF PHOENIX ARTICLE SYNOPSIS With the authentic economy, some businesses are facing gold flow problems resulting in youngs repaying their debt. microphone Spector (2009) in his article talks about the current issue Six Flags is facing. Six Flags currently has $3.4 one thousand zillion in liabilities, including $2.4 billion due in debt at the end of March, a $288 million payment due to preferred share holders this August, and $31 million in unpaid dividends. With the lack of cash to fulfill these liabilities, Six Flags has filed for Chapter 11 Bankruptcy protection this Saturday. LEGAL ISSUE The legal issue brocaded in this article is Six Flags lack of cash to fulfill its liability obligations. To help Six Flags through this they pay back filed for Chapter 11 Bankruptcy protection while they renegotiate with its debt holders and restructure their financing. MANAGERIAL PERSPECTIVE Due to the lack of cash, Six Flags is inefficient to meet their liability obligations they have to their debt holders as well as their shareholders. As such Six Flags has filed for Chapter 11 Bankruptcy. The article mentions that causes to the current situation include $2.

4 billion debt due in March, potentially the previous management team and the current economic situation. Whether or non the previous management team was responsible for cause the current financial situation of the company or not cannot not be determined solely on the knowledge provided in the article; however, the company is headed in the right direction. For the kickoff time last year, Six Flags brought in more property than they spent which is adding hope for the company. For the company to come out of this situation, I believe the plan that Six Flags has currently is hoping to execute may be the best for the company currently. The company has reached an agreement with their sr. secured lenders, to allow for Six Flags to convert $1.8 billion in debt... If you take to get a full essay, order it on our website: Orderessay

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