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New general counsel named for Six Flags
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aura W. Doerre has joined Six Flags Entertainment Corporation as executive vice president and general counsel. She succeeds Lance Balk, who retired on 2
March after more than nine years in the role. Doerre is a highly respected legal expert with 30 years of global experience in mergers and acquisitions, intellectual property, corporate governance, complex litigation, labor and employment law, and benefits. “We are delighted to have one of the brightest legal minds
in the country as our new general counsel,” said Six Flags president and CEO Mike Spanos. “Laura comes to us with an impressive background and a proven record of labour. Her ability to build strong teams, navigate complex legal matters, and guide healthy business strategies will be invaluable as we position the company for short and long-term growth. I also want to thank Lance Balk for his tremendous leadership to Six Flags over nearly a decade of service.”
Apex Parks Group announces financial restructuring “The actions we are taking today will help
Apex Parks Group has announced that it is pursuing a comprehensive financial restructuring aimed at reducing the company’s current debt and, ultimately, enhancing operations to continue to serve guests and communities for years to come. As part of this process, Apex expects to enter into a stalking horse purchase agreement with its prepetition secured lenders to sell substantially all of its assets and operations. The company has filed for Chapter 11 of the United States Bankruptcy Code in the District of Delaware to facilitate the sale. The lenders will also provide financing to support the Company during the restructuring.
better position the company for the future and enable us to continue serving our guests, team members and other business partners in the years ahead,” said John Fitzgerald, Apex CEO. “Apex has faced a number of challenges in recent years… however, despite the hard work of our team members, continuing market headwinds and operational challenges have prevented us from meaningfully improving financial performance.” The Chapter 11 process will not affect the
operations of Apex’s ten family entertainment centres and two water parks in California, Florida, and New Jersey.
Special Report: IAAPA supports attractions industry
IAAPA, along with travel industry-focused partners including U.S. Travel Association will continue to work with Congress in support of the attractions industry.
As the world deals with the unprecedented effects of the global coronavirus crisis, IAAPA has submitted critical policy requests to the US Congress to help ensure the attractions industry and its more than 700,000 US-based employees are considered. “The CARES Act is an important step in the right
direction to help America successfully emerge from this global crisis,” said IAAPA President and CEO Hal McEvoy. “Now, work must be done quickly to ensure critical changes and additional support are earmarked to ensure attractions industry needs are met.” IAAPA is urging Congress to take additional
steps to support of the attractions industry as it works through the next phase of COVID-19 related legislation, focussing in particular on expanding the Paycheck Protection Program (PPP) waiver to accommodate amusement parks and attractions that have less than 500 employees at a single location,
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but more than 500 company-wide. The definition of “employee” for purposes of
eligibility should also reflect the work force of the attractions industry and other businesses who hire substantial numbers of part-time, seasonal and temporary employees. IAAPA is also lobbying for amusement parks and
attractions that have been severely impacted to be included in the Emergency Stabilization Fund. This program needs to be implemented quickly to help businesses in dire need now. “Congress must move swiftly to make these
changes and pass supplement funding,” McEvoy said. “Attractions industry and travel-related businesses play a critical role in the U.S. economy and will be important in helping the country recover from this crisis. Until that time, their health and future lie in the hands of Congress.”
APRIL/MAY 2020
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