Dreamland Margate is seeking a resolution regarding the repayment of its £2.9 million debts.
Directors of the the vintage-themed amusement park – which reopened this summer – have applied to the High Court for a voluntary resolution.
Under the proposals, a sum of around £900,000 would be paid within one week of approval of the arrangement. The full amount would then be paid within five years.
The High Court hearing will take place on 23 December.