Luminent exclusive plan-vote solicitation period extended to July 2

By Caroline Salls

Pittsburgh, March 4 - Luminent Mortgage Capital, Inc. obtained an extension of its exclusive period to solicit votes on its plan of reorganization, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Maryland.

Specifically, the company's exclusive solicitation period was extended to July 2 from March 4.

According to the motion, the company is negotiating additional amendments to its plan.

In addition, Luminent said the court has adjourned all hearings in its bankruptcy case until further notice, including the disclosure statement approval hearing and a hearing on a crucial settlement with debtor-in-possession facility lender Arco Capital Corp. Ltd.

Luminent, a San Francisco-based real estate investment trust that invests in mortgage-backed securities and loans, filed for bankruptcy on Sept. 5. Its Chapter 11 case number is 08-21389.

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