A New York Bankruptcy Court has approved a petition by Six Flags to extend the exclusive period it has to present its restructuring plan.

The theme park operator has been battling with creditors for months over its plans to emerge from bankruptcy. The ruling in New York makes SIx Flags the only group allowed to present a restructuring plan to the court until April 5. After April 5 other groups can present their own plans.

The extension means Six Flags has time to solicit votes from note-holders before the hearing, at which time the court will decide whether or not to approve the plan.

United States Bankruptcy Court Judge Christopher Sontchi overruled objections from creditors to the deadline extension, which would have expired last week.

If you are a business owner and are struggling to make regular payments on your debts, you may wish to consider filing for bankruptcy to restructure your business. For more information on bankruptcy, please contact a Boston bankruptcy lawyer of Joshua Spirn & Associates by calling 800-975-5346