Ciena Capital requests six-month exclusivity extension

By Caroline Salls

Pittsburgh, April 8 - Ciena Capital LLC requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend its exclusive plan-filing period to Oct. 26, 2009 from April 28 and the solicitation period to Dec. 28, 2009 from June 29.

Ciena cited the size and complexity of its bankruptcy case.

"The operational, financial and business challenges facing the debtors are significant, and their resolution will require effort, time and diligence," the company said in the motion.

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.

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