Ciena Capital asks for three-month exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., Nov. 25 - 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 Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Ciena wants to extend the exclusive plan-filing period to March 30 from Dec. 31 and the solicitation period to May 30, 2010 from March 1.

The company cited the size and complexity of its bankruptcy case.

"The estates' constituents are diverse and include secured creditors, priority creditors and general unsecured creditors," Ciena said in the motion.

The company said the extension would allow it to make progress "along an array of fronts."

A hearing is scheduled for Dec. 16.

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. The company filed for bankruptcy on Sept. 30, 2008. Its Chapter 11 case number is 08-13783.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.