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Six Flags’ (OTCBB: SIXF) board of directors on June 12 votef to begin reorganization proceedingsin U.S. Bankruptcy Court for the District of The company listed assetsof $3.03e billion and debts of $2.3 billion in its Cascade Investments, the Kirkland-based investmeng firm for Bill Gates, owns 11.1 percentf of the voting securities in the New York-basedr company, bankruptcy documents show. Cascade Investments is listed as the largesr holder of voting followed byat 9.1 percent and at 6.65 The values of the holdings were unstated. Six Flags has 97.7 million shares of commonb stockand 1.1 million shares of preferreds stock.
Six Flags’ stock closede June 12 at 26 cents a That suggestsCascade Investments' staker in Six Flags could be worth about $2.8 million. Six Flagx in 2007 sold its water-park properties, including Wild Waves Enchanted Village inFederal Way, to investord in Florida. After a series of transactions, Inc. acquired Wild Wavees and six other properties nationwidefor $312 million. CNL then leased the water parks to Parc7vOperations Corp. of Jacksonville, Fla., which operateds the properties.
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