March 31, 2010
After Settlements, Ciena Capital Eyes Ch. 11 Exit
Ciena Capital LLC, which provides commercial real estate loans to small business, filed a Chapter 11 reorganization plan that would incorporate a series of a series of settlements among the debtor, its parent companies, secured lenders, unsecured creditors and the U.S. Small Business Administration. Peter Partee, partner with the firm's New York office who represents Ciena, noted the plan is the product of much negotiation with multiple constituencies and hoped to have the plan confirmed and made effective soon. Partee's bankruptcy practice focuses primarily on the financial restructuring of business debtors in Chapter 11 bankruptcies.