US-based theme park operator Six Flags has revealed that an arbitrator has found in favour of claims made by its former chief financial officer, Jeremy Speed.

The company announced that it had been ordered to pay US$23.65m (£14.2m, EUR16m), in addition to interest and attorney's fees as a result of the decision.

In a statement, a Six Flags spokesperson said: "Any potential costs associated with this case would be treated as a one-time restructuring charge.

"The company is disappointed in and disagrees with the arbitrator's award and is currently evaluating its options, including an appeal."

Speed has also filed a claim with the US Department of Labor relating to his departure from Six Flags, although the group has denied the allegations and will file a response "shortly".