Ciena Capital asks for three-month exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., Jan. 9 - Ciena Capital LLC requested a three-month extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend the exclusive plan-filing period to April 28 from Jan. 28 and the solicitation period to June 29, 2009 from March 30.

Ciena said since filing for bankruptcy on Sept. 30 it has used its limited staff and resources to stabilize operations, prepare and file schedules and address a complex set of legal and business issues.

A hearing has been scheduled for Jan. 28.

Ciena is a New York-based portfolio company for Allied Capital, a business development company that invests long-term debt and equity capital in middle market businesses nationwide. Ciena's Chapter 11 case number is 08-13783.

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