Luminent's reorganization plan unanimously approved by creditors

By Caroline Salls

Pittsburgh, June 17 - Luminent Mortgage Capital, Inc.'s plan of reorganization was unanimously approved by all voting creditors, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Maryland.

According to the vote tabulation, both holders of $127.36 million in secured claims, all 10 holders of $99.4 million in general unsecured claims, all 11 holders of $266,498 in convenience claims and both holders of $99.58 million in subordinated TRUPs claims voted to accept the plan.

Luminent, a San Francisco-based real estate investment trust that invests in mortgage-backed securities and loans, filed for bankruptcy on Sept. 5, 2008. Its Chapter 11 case number is 08-21389.

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