Small Business Lender Falls Into Bankruptcy

Law360, New York (September 30, 2008, 12:00 AM EDT) -- Ciena Capital LLC, a lender to small and mid-sized businesses, has filed for Chapter 11 bankruptcy protection, blaming declining asset value and turbulence in the financial markets.

Ciena, which was known as Business Loan Express until January, filed its bankruptcy petition on Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, according to Allied Capital, a business development company with a majority stake in Ciena.

Its assets and liabilities were both listed at over $100 million on Ciena's bankruptcy petition. The largest...
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