US-based Theme Park operator Six Flags has secured court backing for its plans to finance a way out of bankruptcy.
Six Flags is proposing to take out a US$800m loan and generate a further US$450m through a rights offering in order to pay back its creditors.
The plans were approved by bankruptcy judge Christopher Sontchi and will now be put forward to the creditors for approval.
Six Flags filed for Chapter 11 bankruptcy protection in June 2009 as part of attempts to clear debts of around US$2.4bn (£1.47bn, 1.73bn euro).
