Ciena Capital obtains court OK for three-month exclusivity extension

By Rebecca Melvin

New York, Jan. 28 - Ciena Capital LLC received approval of its request for a three-month extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan in a decision by the U.S. Bankruptcy Court for the Southern District of New York on Wednesday.

The company now has until April 28 for its exclusive plan-filing period and until June 29 for its solicitation period.

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

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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