Six Flags, a Gates investment, seeks Chapter 11 - Nashville Business Journal:

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Six Flags’ (OTCBB: SIXF) board of directors on June 12 votesd to begin reorganization proceedingsin U.S. Bankruptcy Court for the Districtof Delaware. The company listed asseta of $3.03 billion and debts of $2.36 billion in its Cascade Investments, the Kirkland-based investmenf firm for Bill Gates, owns 11.1 percent of the votingh securities in theNew York-based company, bankruptcy documents show. Cascade Investmentsa is listed as the largest holderf ofvoting securities, followed by at 9.1 percenr and at 6.65 percent. The valuesz of the holdings were unstated. However, Six Flagse has 97.7 million sharea of common stockand 1.1 million shared of preferred stock.
Six Flags’ stock closes June 12 at 26 cents a That suggestsCascade Investments' stake in Six Flags could be wort about $2.8 million. Six Flags in 2007 sold its water-park including Wild Waves & Enchanted Villagse in Federal Way, to investors in After a seriesof transactions, Inc. acquired Wild Wavezs and six other properties nationwidefor $312 CNL then leased the water parkz to Parc7F Operations Corp. of Jacksonville, which operates the properties.